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Settlement of awards under KAL Group’s Long-Term Incentive Plan
KAL GROUP LIMITED
(Previously Kaap Agri Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
ISIN: ZAE000244711
Share code: KAL
("KAL Group" or the "Company")
SETTLEMENT OF AWARDS UNDER KAL GROUP'S LONG-TERM INCENTIVE PLAN
Shareholders are referred to the KAL Group SENS announcement dated 30 September 2022
("Announcement") advising, inter alia, that the Company's remuneration committee had
approved the conversion of KAL Group's previous management share incentive scheme
("Previous Scheme") to a non-dilutionary equity-settled long-term incentive plan ("LTIP"). The
Announcement further advised that rights previously granted under the Previous Scheme
have migrated and been converted to nil-cost options ("NCOs") governed by the amended
rules of the LTIP, although the vesting dates and performance hurdles applicable to such
grants remain in place ("Converted Awards").
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the after-tax net-equity settlement of Converted Awards, which
vested on 1 October 2023, is disclosed:
1.
NAME OF DIRECTOR S Walsh
COMPANY OF WHICH A DIRECTOR KAL Group
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 16 January 2024
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2023)
NUMBER OF NCOs VESTED 61 447
TOTAL VALUE OF NCOs SETTLED R2 330 724.53
NUMBER OF ORDINARY SHARES 33 796
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
2.
NAME OF DIRECTOR GW Sim
COMPANY OF WHICH A DIRECTOR KAL Group
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 16 January 2024
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2023)
NUMBER OF NCOs VESTED 25 688
TOTAL VALUE OF NCOs SETTLED R974 362.49
NUMBER OF ORDINARY SHARES 14 128
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
3.
NAME OF DIRECTOR DC Gempies
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of KAL Group)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 16 January 2024
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2023)
NUMBER OF NCOs VESTED 14 545
TOTAL VALUE OF NCOs SETTLED R551 701.28
NUMBER OF ORDINARY SHARES 8 000
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
4.
NAME OF DIRECTOR H Smit
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of KAL Group)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 16 January 2024
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2023)
NUMBER OF NCOs VESTED 13 402
TOTAL VALUE OF NCOs SETTLED R508 346.54
NUMBER OF ORDINARY SHARES 7 371
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
5.
NAME OF DIRECTOR T Sulaiman-Bray
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of KAL Group)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 16 January 2024
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2023)
NUMBER OF NCOs VESTED 10 441
TOTAL VALUE OF NCOs SETTLED R396 033.90
NUMBER OF ORDINARY SHARES 5 743
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.
Paarl
16 January 2024
Sponsor
PSG Capital
Date: 16-01-2024 03:10:00
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