Source - RNS
RNS Number : 4400J
AFI Development PLC
09 September 2016

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them


The notification below is made in accordance with the requirements of the EU Market Abuse Regulation



Details of PDMR/person closely associated with them (PCA)



Lev Leviev



Director (Executive Chairman)


Initial notification/ amendment

Initial Notification


Details of the issuer



AFI Development PLC


Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted


Description of the financial instrument

GDRs of US$0.001 each

B ordinary shares of US$0.001 each


Nature of the transaction

1.   Purchase of securities.

Acquisition from Africa Israel Investments Ltd of:

336,948,796 GDRs; and

342,799,658 B ordinary shares

2.   Grant of call option to Africa Israel Investments Ltd. in respect of 51,933,807 GDRs and 52,835,598 B ordinary shares

Flotonic Limited, the acquiror of the above GDRs and B ordinary shares and which is indirectly owned and controlled as to 100% by Mr Leviev, has granted a pledge in respect of 336,948,796 GDRs and 342,799,658 B ordinary shares in connection with the financing of the above purchase of securities


Price(s) and volume(s)




NIS 0.80912284 per GDR

336,948,796 GDRs


NIS 0.80912284 per B ordinary share

342,799,658 B ordinary shares


US$0.216  per GDR

US$0.295 per B ordinary share

51,933,807 GDRs

52,835,598 B ordinary shares


Aggregated information Aggregated volume Price

Total consideration NIS 550,000,000 for 679,748,454 securities in AFI Development PLC


Date of the transaction

2016-09-07 (Israel Daylight Time)


Place of the transaction

Outside a trading venue



This information is provided by RNS
The company news service from the London Stock Exchange

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