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WORKFORCE HOLDINGS LIMITED - Exercise of Share Appreciation Rights by a Director and Directors of a Major Subsidiary

Release Date: 01/07/2019 15:35
Code(s): WKF     PDF:  
 
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Exercise of Share Appreciation Rights by a Director and Directors of a Major Subsidiary

WORKFORCE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF ISIN: ZAE000087847

EXERCISE OF SHARE APPRECIATION RIGHTS BY A DIRECTOR AND DIRECTORS
OF A MAJOR SUBSIDIARY

In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of JSE Limited, the
following is disclosed:

Name of director:                            Willem Van Wyk
Company:                                     Workforce Holdings Limited
Nature of transaction:                       Off market exercise of 400 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 8 148 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                8 148
Total value of shares awarded:               R10 185.00
Clearance to deal obtained:                  Yes

Name of director:                            Evelyn Vanassche
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Holdings Limited
Nature of transaction:                       Off market exercise of 200 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between average traded price over the three month
                                             period preceding the vesting date (R1.35) and the strike price
                                             (R1.20), settled by the Scheme through the award of shares at
                                             the volume weighted average price at which the Scheme was
                                             able to purchase shares on the market on the director’s behalf
                                             (“Market price”), to the value of the net after tax gain realised,
                                             amounting to 4 074 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                4 074
Total value of shares awarded:               R5 092.00
Clearance to deal obtained:                  Yes

Name of director:                            Mohamed Valoria
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Holdings Limited
Nature of transaction:                       Off market exercise of 100 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 2 185 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price                                 R1.25
Number of securities awarded:                2 185
Total value of shares awarded:               R2 731.25
Clearance to deal obtained:                  Yes

Name of director:                            Carol Knoetze
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Holdings Limited
Nature of transaction:                       Off market exercise of 150 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 3 056 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                3 056
Total value of shares awarded:               R3 820.00
Clearance to deal obtained:                  Yes

Name of director:                            Frieda Hall
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 100 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 2 185 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                2 185
Total value of shares awarded:               R2 731.25
Clearance to deal obtained:                  Yes

Name of director:                            Johanna Nagel
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 25 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 546 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                546
Total value of shares awarded:               R682.50
Clearance to deal obtained:                  Yes
            
Name of director:                            Dermot Byrne
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 100 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 2 037 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                2 037
Total value of shares awarded:               R2 546.25
Clearance to deal obtained:                  Yes

Name of director:                            Steven Herscovitz
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 500 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 10 185 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                10 185
Total value of shares awarded:               R12 731.25
Clearance to deal obtained:                  Yes

Name of director:                            Duan Nortje
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 75 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 1 528 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                1 528
Total value of shares awarded:               R1 910.00
Clearance to deal obtained:                  Yes


Name of director:                            Sean Momberg
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 500 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 10 185 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                10 185
Total value of shares awarded:               R12 731.25
Clearance to deal obtained:                  Yes

Name of director:                            Preshene Batohi
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 50 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 1 093 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                1 093
Total value of shares awarded:               R1 366.25
Clearance to deal obtained:                  Yes

Name of director:                            Rachel Hough
Company:                                     The Workforce Group Proprietary Limited, a major subsidiary
                                             of Workforce Limited
Nature of transaction:                       Off market exercise of 100 000 share appreciation rights in
                                             respect of the employee share appreciation rights scheme
                                             (“Scheme”). The benefit attributable to the director is the
                                             difference between the average traded price over the three
                                             month period preceding the vesting date (R1.35) and the strike
                                             price (R1.20), settled by the Scheme through the award of
                                             shares at the volume weighted average price at which the
                                             Scheme was able to purchase shares on the market on the
                                             director’s behalf (“Market price”), to the value of the net after
                                             tax gain realised, amounting to 2 037 shares.
Class of securities:                         Ordinary shares
Extent of director’s interest:               Direct beneficial
Grant date:                                  22 June 2015
Vesting date:                                30 June 2018
Exercise date:                               27 June 2019
Market price:                                R1.25
Number of securities awarded:                2 037
Total value of shares awarded:               R2 546.25
Clearance to deal obtained:                  Yes

Johannesburg
1 July 2019

Designated Adviser
Merchantec Capital

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