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TSOGO SUN HOTELS LIMITED - Directors Dealings In Securities

Release Date: 16/08/2019 17:00
Code(s): TGO     PDF:  
Wrap Text
Directors’ Dealings In Securities

Tsogo Sun Hotels Limited
(previously known as Southern Sun Hotels Proprietary Limited)
Incorporated in the Republic of South Africa
Registration number 2002/006356/06
Share Code: TGO ISIN:ZAE000272522
(“Tsogo Sun Hotels” or the “Company” or the “Group”)

DIRECTORS’ DEALINGS IN SECURITIES

CONVERSION OF NOTIONAL SHARES HELD UNDER THE TSOGO SUN GROUP SHARE APPRECIATION BONUS PLAN AS A RESULT OF
THE LISTING OF TSOGO SUN HOTELS LIMITED

As disclosed in the Pre-Listing Statement issued by the Company on 23 May 2019, Tsogo Sun Hotels has adopted an equity-settled
share incentive scheme, namely the Tsogo Sun Hotels Share Appreciation Rights Plan (“Tsogo Sun Hotels SAR Plan”), in which selected
key senior employees of the Group are eligible to participate with the goal to incentivise, motivate and retain these high calibre
employees and recognise their contributions to the Group.

As a consequence of the listing of the Group on 12 June 2019, employees of Tsogo Sun Hotels who participated in the Tsogo Sun Group
Share Appreciation Bonus Plan (“Tsogo Sun LTIP”) have been given the option to: a) accelerate the vesting of all their notional shares
(both vested and unvested) held under the Tsogo Sun LTIP and receive settlement in cash or b) to elect to convert their notional shares
held under the Tsogo Sun LTIP to share appreciation rights (“SARs”) administered in terms of the Tsogo Sun Hotels SAR Plan
(“Replacement Awards”).

The conversion calculation provides for participants to receive SARs under the Tsogo Sun Hotels SAR Plan that equate to the same fair
value of the notional shares (both vested and unvested) previously held under the Tsogo Sun LTIP on the conversion date, being 12
June 2019. The conversion will ensure that employees of the Company are incentivised based on the performance of the Company’s
share price moving forward, and also serve to align their interests more closely with those of shareholders.

In compliance with Paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information is disclosed in relation
to the granting and acceptance of Replacement Awards by directors and company secretaries of the Company and its major
subsidiaries, being Hospitality Property Fund Limited and Southern Sun Hotel Interests Pty Ltd.

Director                                       Marcel von Aulock
Designation                                    Chief Executive Officer
Company                                        Tsogo Sun Hotels Limited
Nature of transaction                          Grant and acceptance of Replacement Awards, off market
Nature of interest                             Direct, beneficial
Class of shares                                Ordinary TGO shares
Date of grant of Replacement Award             12 August 2019
Date of acceptance                             14 August 2019
Clearance to deal                              Yes
               Number of           Replacement Award          Value of transaction        Vesting date of                   Expiry Date of
      Replacement Awards                strike price                                     Replacement Award                Replacement Award
              10 893 353                    R4.13                 R44 989 547.89             30/09/2021                       30/09/2024


Director                                     Laurelle McDonald
Designation                                  Chief Financial Officer
Company                                      Tsogo Sun Hotels Limited
Nature of transaction                        Grant and acceptance of Replacement Awards, off market
Nature of interest                           Direct, beneficial
Class of shares                              Ordinary TGO shares
Date of grant of Replacement Award           12 August 2019
Date of acceptance                           14 August 2019
Clearance to deal                            Yes
               Number of         Replacement Award         Value of transaction       Vesting date of          Expiry Date of
      Replacement Awards             strike price                                  Replacement Award         Replacement Award
                592 805                     R4.22             R2 501 637.10           31/03/2017              31/03/2020
                444 129                     R4.50             R1 998 580.50           31/03/2018              31/03/2021
                747 218                     R4.01             R2 996 344.18           31/03/2019              31/03/2022
                584 037                     R5.14             R3 001 950.18           31/03/2020              31/03/2023
                324 907                     R4.62             R1 501 070.34           31/03/2021              31/03/2024
              1 603 856                     R4.24             R6 800 349.44           31/03/2022              31/03/2025



Name                                         Moja Mahloele
Designation                                  Company Secretary
Company                                      Tsogo Sun Hotels Limited
Nature of transaction                        Grant and acceptance of Replacement Awards, off market
Nature of interest                           Direct, beneficial
Class of shares                              Ordinary TGO shares
Date of grant of Replacement Award           12 August 2019
Date of acceptance                           15 August 2019
Clearance to deal                            Yes
               Number of             Replacement Award         Value of transaction  Vesting date of          Expiry Date of
      Replacement Awards                  strike price                                Replacement Award       Replacement Award
                118 560                     R4.22               R500 323.20           31/03/2017              31/03/2020
                111 035                     R4.50               R499 657.50           31/03/2018              31/03/2021
                124 538                     R4.01               R499 397.38           31/03/2019              31/03/2022
                 97 344                     R5.14               R500 348.16           31/03/2020              31/03/2023
                162 454                     R4.62               R750 537.48           31/03/2021              31/03/2024
                 82 550                     R4.24               R350 012.00           31/03/2022              31/03/2025


Director                                   Mara De Lima
Designation                                Chief Executive Officer
Company                                    Hospitality Property Fund Limited
Nature of transaction                      Grant and acceptance of Replacement Awards, off market
Nature of interest                         Direct, beneficial
Class of shares                            Ordinary TGO shares
Date of grant of Replacement Award         12 August 2019
Date of acceptance                         13 August 2019
Clearance to deal                          Yes
               Number of         Replacement Award           Value of transaction      Vesting date of         Expiry Date of
      Replacement Awards               strike price                                    Replacement Award      Replacement Award
                177 840                     R4.22               R750 484.80            31/03/2017             31/03/2020
                166 553                     R4.50               R749 488.50            31/03/2018             31/03/2021
                249 071                     R4.01               R998 774.71            31/03/2019             31/03/2022
                486 698                     R5.14             R2 501 627.72            31/03/2020             31/03/2023



Director                                Riaan Erasmus
Designation                             Chief Financial Officer
Company                                 Hospitality Property Fund Limited
Nature of transaction                   Grant and acceptance of Replacement Awards, off market
Nature of interest                      Direct, beneficial
Class of shares                         Ordinary TGO shares
Date of grant of Replacement Award      12 August 2019
Date of acceptance                      13 August 2019
Clearance to deal                       Yes
              Number of          Replacement Award     Value of transaction        Vesting date of          Expiry Date of
      Replacement Awards              strike price                               Replacement Award       Replacement Award
                194 683                     R5.14            R1 000 670.62             31/03/2020             31/03/2023
                216 605                     R4.62            R1 000 715.10             31/03/2021             31/03/2024



Name                                        Laurinda Rosalind van Onselen
Designation                                 Company Secretary
Company                                     Hospitality Property Fund Limited
Nature of transaction                       Grant and acceptance of Replacement Awards, off market
Nature of interest                          Direct, beneficial
Class of shares                             Ordinary TGO shares
Date of grant of Replacement Award          12 August 2019
Date of acceptance                          16 August 2019
Clearance to deal                           Yes
                 Number of             Replacement Award         Value of transaction       Vesting date of          Expiry Date of
        Replacement Awards                  strike price                                  Replacement Award       Replacement Award
                146 011                     R5.14                  R750 496.54              31/03/2020                31/03/2023
 

Director                                     Ravi Nadasen
Designation                                  Director
Company                                      Southern Sun Hotel Interests Pty Ltd
Nature of transaction                        Grant and acceptance of Replacement Awards, off market
Nature of interest                           Direct, beneficial
Class of shares                              Ordinary TGO shares
Date of grant of Replacement Award           12 August 2019
Date of acceptance                           14 August 2019
Clearance to deal                            Yes
               Number of           Replacement Award          Value of transaction        Vesting date of     Expiry Date of
         Replacement Awards            strike price                                    Replacement Award    Replacement Award
                 592 805                     R4.22            R2 501 637.10               31/03/2017          31/03/2020
                 555 165                     R4.50            R2 498 242.50               31/03/2018          31/03/2021
                 747 218                     R4.01            R2 996 344.18               31/03/2019          31/03/2022
                 681 375                     R5.14            R3 502 267.50               31/03/2020          31/03/2023
                 255 913                     R3.91            R1 000 619.83               30/09/2020          30/09/2023
                 866 425                     R4.62            R4 002 883.50               31/03/2021          31/03/2024
                 872 685                     R4.24            R3 700 184.40               31/03/2022          31/03/2025



Director                                    Jaco Boshoff
Designation                                 Director
Company                                     Southern Sun Hotel Interests Pty Ltd
Nature of transaction                       Grant and acceptance of Replacement Awards, off market
Nature of interest                          Direct, beneficial
Class of shares                             Ordinary TGO shares
Date of grant of Replacement Award          12 August 2019
Date of acceptance                          15 August 2019
Clearance to deal                           Yes
                Number of           Replacement Award          Value of transaction        Vesting date of       Expiry Date of
       Replacement Awards             strike price                                     Replacement Award     Replacement Award
                 592 805                     R4.22              R2 501 637.10             31/03/2017            31/03/2020
                 555 165                     R4.50              R2 498 242.50             31/03/2018            31/03/2021
                 622 680                     R4.01              R2 496 946.80             31/03/2019            31/03/2022
                 584 037                     R5.14              R3 001 950.18             31/03/2020            31/03/2023
                 758 123                     R4.62              R3 502 528.26             31/03/2021            31/03/2024
                 353 793                     R4.24              R1 500 082.32             31/03/2022            31/03/2025

Fourways
16 August 2019

Sponsor
Investec Bank Limited

Date: 16/08/2019 05:00:00
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