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GRAND PARADE INVESTMENTS LIMITED - Acceptance Of Options In Terms Of The Grand Parade Share Incentive Trust

Release Date: 24/04/2019 14:25
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Acceptance Of Options In Terms Of The Grand Parade Share Incentive Trust

GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
(“GPI” or “the Company”)

ACCEPTANCE OF OPTIONS IN TERMS OF THE GRAND PARADE SHARE INCENTIVE TRUST

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the acceptance of options is disclosed:

1.
NAME OF DIRECTOR                                Colin Michael Priem

COMPANY OF WHICH A DIRECTOR                     Grand Parade Investments Limited

STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

TYPE AND CLASS OF SECURITIES                    Options to acquire ordinary shares

NATURE OF TRANSACTION                           Acceptance of award of options to acquire
                                                ordinary shares in terms of the Grand
                                                Parade Share Incentive Trust (off-market
                                                transaction)

DATE OF ACCEPTANCE OF OPTIONS                   24 April 2019

DATE OF AWARD OF OPTIONS                        1 July 2018

OPTION STRIKE PRICE                             204 cents

NUMBER OF OPTIONS ACCEPTED                      1 470 588

TOTAL RAND VALUE OF OPTIONS                     R2 999 999.52
ACCEPTED

VESTING DATES OF OPTIONS                        The options will vest in four tranches of
                                                25% each, on the following dates:

                                                1 July 2020
                                                1 July 2021
                                                1 July 2022
                                                1 July 2023

PERIOD OF EXERCISE                              Participants have a 180-day period from
                                                the vesting date during which options can
                                                be exercised

NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
THE TRANSACTION

2.
NAME OF DIRECTOR                                Mohsin Tajbhai

COMPANY OF WHICH A DIRECTOR                     Grand Parade Investments Limited

STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

TYPE AND CLASS OF SECURITIES                    Options to acquire ordinary shares

NATURE OF TRANSACTION                           Acceptance of award of options to acquire
                                                ordinary shares in terms of the Grand
                                                Parade Share Incentive Trust (off-market
                                                transaction)

DATE OF ACCEPTANCE OF OPTIONS                   24 April 2019

DATE OF AWARD OF OPTIONS                        1 November 2018

OPTION STRIKE PRICE                             226 cents

NUMBER OF OPTIONS ACCEPTED                      1 504 425

TOTAL RAND VALUE OF OPTIONS                     R3 400 000.50
ACCEPTED

VESTING DATES OF OPTIONS                        The options will vest in four tranches of
                                                25% each, on the following dates:

                                                1 November 2020
                                                1 November 2021
                                                1 November 2022
                                                1 November 2023

PERIOD OF EXERCISE                              Participants have a 180-day period from
                                                the vesting date during which options can
                                                be exercised

NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
THE TRANSACTION

3.
NAME OF DIRECTOR                                Hassen Adams

COMPANY OF WHICH A DIRECTOR                     Grand Parade Investments Limited

STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

TYPE AND CLASS OF SECURITIES                    Options to acquire ordinary shares

NATURE OF TRANSACTION                           Acceptance of award of options to acquire
                                                ordinary shares in terms of the Grand
                                                Parade Share Incentive Trust (off-market
                                                transaction)

DATE OF ACCEPTANCE OF OPTIONS                   24 April 2019

DATE OF AWARD OF OPTIONS                        27 August 2018

OPTION STRIKE PRICE                             186 cents

NUMBER OF OPTIONS ACCEPTED                      3 262 548

TOTAL RAND VALUE OF OPTIONS                     R6 068 339.28
ACCEPTED 

VESTING DATES OF OPTIONS                        The options will vest in four tranches of
                                                25% each, on the following dates:

                                                27 August 2020
                                                27 August 2021
                                                27 August 2022
                                                27 August 2023

PERIOD OF EXERCISE                              Participants have a 180-day period from
                                                the vesting date during which options can
                                                be exercised

NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
THE TRANSACTION

The delayed acceptance of the above award of the share options was due to the GPI
shareholder engagement towards the latter period of 2018, as well as the closed periods
during and subsequent to the date of the award.

Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Cape Town
24 April 2019

Sponsor
PSG Capital

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