Wrap Text
Directors Dealings in Securities
Lewis Group Ltd
Reg. No. 2004/009817/06
JSE Share Code : LEW
ISIN : ZAE 000058236
(“Lewis” or the “Company”)
Directors Dealings in Securities
In compliance with the requirements 3.63 to 3.74 of the JSE Listings Requirements,
the following should be noted:
1. The Lewis Long Term and Short Term Executive Performance Schemes –
1.1 Vesting of 3 Year Share Award
In terms of the Lewis Executive Performance Scheme, the share awards granted to the
directors on 28 June 2019 (refer to SENS announcement dated 4 July 2016) have
vested on 28 June 2019 as follows:
Share Awards Implied
Executive Designation Vested Value
J. Enslin Director, Lewis Group Ltd 104 985 R 3 505 449
J. Bestbier Director, Lewis Group Ltd 22 628 R 755 549
L.A. Davies Director, Lewis Stores (Pty) Ltd 80 438 R 2 685 825
D. Loudon Director, Lewis Stores (Pty) Ltd 61 390 R 2 049 812
D.M. Oliphant Director, Lewis Stores (Pty) Ltd 42 544 R 1 420 544
The awards were acquired for no consideration and are in respect of ordinary shares.
The implied value was calculated using the share price of R 33.39 at the close of
business on 28 June 2019.
1.2 Vesting of 4 Year Share Award
In terms of the Lewis Executive Performance Scheme, one half of the share awards
granted to the directors on 30 June 2015 (refer to SENS announcement dated 3 July
2015) vest on the fourth year and have therefore vested on 30 June 2019 as follows:
Share Awards Implied
Executive Designation Vested Value
J. Enslin Director, Lewis Group Ltd 6 000 R 200 340
J. Bestbier Director, Lewis Group Ltd 1 500 R 50 085
L.A. Davies Director, Lewis Stores (Pty) Ltd 4 500 R 150 255
D. Loudon Director, Lewis Stores (Pty) Ltd 4 000 R 133 560
D.M. Oliphant Director, Lewis Stores (Pty) Ltd 4 000 R 133 560
The awards were acquired for no consideration and are in respect of ordinary shares.
The implied value was calculated using the share price of R 33.39 at the close of
business on 28 June 2019.
2. The Lewis Executive Retention Scheme – New award
Senior executives who are invited to co-invest have earned an annual bonus and have
achieved the requisite performance targets set for them. These eligible executives can
elect to invest all or part of their net bonus in Lewis Group shares.
These invested shares (i.e. shares acquired using the executive’s net bonus) are held
on behalf of executives for a period of three years and matching shares equal to the
before tax bonus are awarded for no consideration at the end of the period. The
invested shares are purchased by the employee share trust on the open market on
behalf of executives.
The matching share award will lapse, should the executive terminate his or her
employment before the completion of the three-year period other than in the event of
death, ill-health, retirement or retrenchment.
In terms of the Lewis Executive Retention Scheme, the following executives elected
on 28 June 2019 to invest some of their net bonus in the Company’s shares and
matching awards were awarded to them under the Lewis Executive Retention
Scheme:
Invested Matching Total
Executive Designation Shares Share Value
Awards
J. Enslin Director, Lewis Group 63 699 115 816 R 5 928 917
Ltd
J. Bestbier Director, Lewis Group 38 641 70 256 R 3 596 588
Ltd
W. Achmat Director, Lewis Stores 18 777 34 140 R 1 747 727
(Pty) Ltd
D. Loudon Director, Lewis Stores 31 462 57 204 R 2 928 392
(Pty) Ltd
D.M. Oliphant Director, Lewis Stores 28 976 52 684 R 2 697 019
(Pty) Ltd
The invested shares were purchased on the open market on 1 July 2018 and 3 July
2019 at a volume weighted price of R 33.0274 with the highest and lowest price paid
being R 33.40 and R 33.00 respectively. The matching share awards will be received
by the scheme participants for no consideration.
3 Sale of Shares
The directors have sold ordinary shares on the open market between 1 July 2019 and
3 July 2019 at a volume weighted price of R 33.0526 with the highest and the lowest
price being R 33.50 and R 33.00 respectively, in order to settle their tax liability on
the awards vested above and to re-balance their personal portfolios as follows:
No. of
Executive Designation Shares Value
J. Enslin Director, Lewis Group Ltd 80 985 R 2 676 765
J. Bestbier Director, Lewis Group Ltd 24 128 R 797 493
L.A. Davies Director, Lewis Stores (Pty) Ltd 38 438 R 1 270 476
D. Loudon Director, Lewis Stores (Pty) Ltd 30 733 R 1 015 806
D.M. Oliphant Director, Lewis Stores (Pty) Ltd 21 876 R 723 059
4 Transfer of Shares
The following directors have elected to take transfer of shares arising from the vesting
of share awards.
No.of Implied
Executive Designation
Shares Value
Director,Lewis
J. Enslin 30 000 R 1 001 700
Group Limited
L.A. Director,Lewis
46 500 R 1 552 635
Davies Stores (Pty) Ltd
Director,Lewis
D. Loudon 34 657 R 1 157 197
Stores (Pty) Ltd
D.M. Director,Lewis
24 668 R 823 665
Oliphant Stores (Pty) Ltd
The implied values were calculated at R33.39. The transfer will be made off- market.
All the transactions as set out in 1 to 4 above were for the direct benefit of the
director. The requisite clearances have been obtained.
Cape Town
4 July 2019
Sponsor: UBS South Africa (Pty) Ltd
Date: 04/07/2019 05:48:00 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.
Sharenet Sites 
