PICK N PAY STORES LIMITED - Vesting of share options and sale of shares

Vesting of share options and sale of shares

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: DIRECTOR

In terms of the rules of the Pick n Pay Consolidated Share Incentive Scheme, share
options are required to be taken up within 6 months of retirement. During the course of
his employment, A Jakoet was granted a number of share options that subsequently
vested. A Jakoet retired on 6 September 2019, after which he was appointed as non-
executive director. A Jakoet elected to sell his remaining share options on market as
detailed below. The share options were net settled.

 Director                               :   A Jakoet
 Company                                :   Pick n Pay Stores Limited
 Date of transaction                    :   4 February 2020
 Nature of transaction                  :   Exercise of share options
 Class of security                      :   Ordinary
 Number of share options exercised      :   273 542
 Grant date                             :   29 April 2011
 Grant price                            :   R41.70
 Exercise value                         :   R11 406 701.49

 Number of share options sold to        :   174 307
 cover grant price
 Value                                  :   R7 268 601.90

 Number of share options taken up       :   99 235
 Weighted average price per share       :   6,568.85 cents per share
 High                                   :   R66.00
 Low                                    :   R65.60
 Value                                  :   R6 518 598.30
 Nature of interest                     :   Direct beneficial
 Clearance obtained                     :   Yes


Cape Town
5 February 2020

Sponsor: Investec Bank Limited

Date: 05-02-2020 05:29:00
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