Spicer chairman Sas du Toit dumped R1.4 million worth of his Spicer shares onto the JSE market today, amounting to about 3.3% of issued shares.
Spicer was obliged, as part of the new JSE regulations, to announce the sale by Du Toit of 13.34 million Spicer shares to the value of R1.4 million.
Spicer financial director Danie de Villiers, speaking from the company's Johannesburg offices, says the company has decided that Du Toit must comment in his own right on the sale. The company itself is not making any comments.
However, Spicer's UK office says Du Toit will be unavailable until tomorrow morning.
The group's entire revenue is derived from its two remaining companies, UK-based MIS-Corporate Defence Solutions and Sweden-based Inter IT-Konsult.
Spicer reported operating profit of R2.5 million on revenue of R43.4 million for the six months to December 2000. This compared with an operating loss of R4.1 million on revenue of R24.5 million for ongoing operations for the comparable period 12 months earlier.
The Spicer share price opened at 9c today, dropping to 8c during the day.
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