Blu Label Unlimited joint-CEOs Brett and Mark Levy have acquired 10 million company shares worth R73.5 million through the close-out of a contract for difference (CFD).
The transaction, disclosed in a JSE filing, took place on 28 September and involved the off-market delivery of Blu Label ordinary shares to BSC Technologies, a company of which the Levy brothers are directors.
The shares were delivered at R7.35 each following the physical settlement of the CFD.
The transaction gives Brett and Mark Levy an indirect beneficial interest in the shares, with the 10 million shares attributed equally between them.
Blu Label says the transaction does not change the brothers’ aggregate indirect beneficial interest in the company.
Separately, Dineo Simba, a director of Blu Label Distribution, a major subsidiary of Blu Label, sold 135 611 Blu Label shares on the open market on 28 September.
The shares were sold at a volume-weighted average price of R7.3192, generating proceeds of R992 564.03. The lowest price was R7.27 and the highest was R7.41.
The JSE filing says clearance for both transactions was obtained in advance in accordance with the JSE Listings Requirements.
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