To view the PDF file, sign up for a MySharenet subscription.

DISTELL GROUP HOLDINGS LIMITED - Offer to and acceptance of shares by directors and company secretary

Release Date: 23/10/2018 14:55
Code(s): DGH     PDF:  
Wrap Text
Offer to and acceptance of shares by directors and company secretary

DISTELL GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2016/394974/06)
Share Code: DGH
ISIN: ZAE000248811
(“the Company” or “Distell”)


OFFER TO AND ACCEPTANCE OF SHARES BY DIRECTORS AND COMPANY SECRETARY

Executive directors and the company secretary of Distell have
accepted shares under the Conditional Share Plan Scheme (“CSP
Scheme”) in respect of Distell ordinary shares at a grant price of
R108.33 per share, which is based on the 30-day volume weighted
average price of a share on 17 October 2018.

       
DIRECTOR      NUMBER     DATE OF          DEEMED VALUE OF    NATURE OF
              OF         ACCEPTANCE       TRANSACTION        INTEREST
              SHARES                                  
                                                                      
LC Verwey     35 631     19 Oct 2018      R3 859 906.23      Direct 
                                                             beneficial
                                                        
RM Rushton    118 638    23 Oct 2018      R12 852 054.54     Direct
                                                             beneficial
L Malan                                                         
(Company      12 675     22 Oct 2018      R1 373 082.75      Direct                                                   
Secretary)                                                   beneficial


The purpose of the CSP Scheme is to incentivise, motivate and retain
the appropriate caliber of employees by awarding employees with
shares as remuneration and the opportunity to share in the success of
Distell through the award of Performance CSP shares.

The vesting of the shares will be subject to the satisfaction of the
Performance Conditions, the Employment Condition and the Remaining
Conditions (if any) set by the Remuneration Committee. The
Performance Conditions comprise financial measures which include
revenue growth, EBITDA growth and Return on Invested Capital.

On condition that all vesting conditions have been met, the shares
will vest as follows:

-   up to one third on or after the third anniversary of the date
    of grant;
-   up to two thirds on or after the fourth anniversary of the
    date of grant;
-   all of the shares will vest on or after the fifth anniversary
    of the date of grant.

Clearance for the above transactions has been obtained, and all
transactions were completed off market.


Stellenbosch
23 October 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 23/10/2018 02:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story