PICK N PAY STORES LIMITED - Vesting of Share Options and Sale of Shares: Directors

Vesting of Share Options and Sale of Shares: Directors

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number 1968/008034/06
Share code: PIK
ISIN: ZAE000005443

VESTING OF SHARE OPTIONS AND SALE OF SHARES: DIRECTORS

Executive directors were granted a number of share options, as detailed below, that
subsequently vested in terms of the Pick n Pay Consolidated Share Incentive Scheme.
These share options were exercised on 24 October 2018 at the strike price disclosed and
taken up into the directors’ names. One director elected to sell a portion of the share
options to pay the tax. To cover the grant prices, portions of the share options were sold
back to the Pick n Pay Employee Share Purchase Trust.

 Director                               :   S Ackerman-Berman
 Company                                :   Pick n Pay Stores Limited
 Date of transaction                    :   24 October 2018
 Nature of transaction                  :   Off market exercise of share options
 Class of security                      :   Ordinary
 Number of share options granted        :   100 000 at R26.14
 Grant date                             :   2008
 Vesting date                           :   2015
 Exercise price per share               :   R66.27
 Total exercise value                   :   R6 627 000
 Number of shares sold to cover         :   66 712
 grant price and tax (off market)
 Value                                  :   R4 421 004.24
 Number of shares taken up              :   33 288
 Value                                  :   R2 205 995.76
 Nature of interest                     :   Direct beneficial
 Clearance obtained                     :   Yes

 Number of share options granted        :   196 at R58.10
 Grant date                             :   2015
 Vesting date                           :   2015
 Exercise price per share               :   R66.27
 Total exercise value                   :   R12 988.92
 Number of shares sold to cover         :   171
 grant price and tax (off market)
 Value                                  :   R11 332.17
 Number of shares taken up              :   25
 Value                                  :   R1 656.75
 Clearance obtained                     :   Yes

 Director                               :   J Ackerman
 Company                                :   Pick n Pay Stores Limited
 Date of transaction                    :   24 October 2018
 Nature of transaction                  :   Off market exercise of share options
 Class of security                      :   Ordinary
 Number of share options granted        :   100 000 at R26.14
 Grant date                             :   2008
 Vesting date                           :   2015
 Exercise price per share               :   R66.27
 Total exercise value                   :   R6 627 000
 Number of shares sold to cover         :   39 444
 grant price (off market)
 Value                                  :   R2 613 953.88
 Number of shares taken up              :   60 556
 Value                                  :   R4 013 046.12
 Nature of interest                     :   Direct beneficial
 Clearance obtained                     :   Yes


 Company                                :   Pick n Pay Employee Share Purchase Trust
 Date of transaction                    :   24 October 2018
 Nature of transaction                  :   Off market purchase of shares
 Class of security                      :   Ordinary
 Number of shares purchased             :   106 327
 Price per share                        :   R66.27
 Value                                  :   R7 046 290.29
 Nature of interest                     :   Direct beneficial
 Clearance obtained                     :   Yes


Cape Town
25 October 2018

Sponsor: Investec Bank Limited

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