BRIEF-Caxton And Ctp Publishers Say Will Procure Cancellation Of Executive Share Scheme

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BRIEF-Caxton And Ctp Publishers Say Will Procure Cancellation Of Executive Share Scheme

Oct 29 (Reuters) - Caxton and Ctp Publishers and Printers Ltd CATJ.J :

* PROPOSED CANCELLATION OF SHARE INCENTIVE SCHEME, IMPLEMENT BY WAY OF ACQUI OF SHARES FROM FAMILY TRUSTS OF DIRECTORS

* ENTERED INTO SEPARATE AGREEMENTS IN TERMS OF WHICH IT WILL PROCURE CANCELLATION OF AN EXECUTIVE SHARE SCHEME

* WILL, THROUGH UNIT, CTP, BUY 8 MILLION ORDINARY SHARES IN CO, AT ORIGINAL SUBSCRIPTION PRICE FOR SHARES OF R15 PER SHARE

* AGREEMENTS WILL ENABLE TRUSTS TO REPAY FINANCIAL ASSISTANCE OF R14,75 PER SHARE EXTENDED TO THEM

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