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CURRO HOLDINGS LIMITED - Net Cash Settlement And Acceptance Of Options By Directors In Terms Of The Company Share Incentive Scheme

Release Date: 28/10/2019 16:20
Code(s): COH     PDF:  
 
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Net Cash Settlement And Acceptance Of Options By Directors In Terms Of The Company Share Incentive Scheme

CURRO HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
(“Curro” or “the Company”)

NET CASH SETTLEMENT AND ACCEPTANCE OF OPTIONS BY DIRECTORS IN TERMS
OF THE COMPANY SHARE INCENTIVE SCHEME

NET CASH SETTLEMENT AND EXERCISE OF OPTIONS BY DIRECTORS IN TERMS OF
THE COMPANY SHARE INCENTIVE SCHEME

Upon the exercise of the share options referred to below, the Company elected to settle on
a net cash settlement basis. No shares were traded and therefore there is no obligation to
report same.

Accordingly, the directors did not receive Curro shares in respect of such options, but only
cash.

However, in the interest of transparency, the following information regarding the exercise of
options is disclosed:

1.
NAME OF DIRECTOR                                AJF Greyling

COMPANY OF WHICH I AM A DIRECTOR                Curro Holdings Limited

STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

TYPE AND CLASS OF SECURITIES                    Options in relation to ordinary shares

OPTION STRIKE PRICE                             R18.24

NUMBER OF OPTIONS EXERCISED                     23 475

DATE OF EXERCISE OF OPTIONS                     7 October 2019

VESTING DATE OF OPTIONS EXERCISED               28 September 2019

PERIOD OF EXERCISE                              Participants have a 30-day period from the
                                                strike date during which options can be
                                                exercised

NATURE OF TRANSACTION                           Exercise of share options by director on the
                                                exercise date at the closing price of R19.58
                                                per share, with settlement occurring on a net
                                                cash settled basis

NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
THE TRANSACTION

2.
NAME OF DIRECTOR                                B van der Linde

COMPANY OF WHICH I AM A DIRECTOR                Curro Holdings Limited

STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

TYPE AND CLASS OF SECURITIES                    Options in relation to ordinary shares

OPTION STRIKE PRICE                             R18.24

NUMBER OF OPTIONS EXERCISED                     19 675

DATE OF EXERCISE OF OPTIONS                     7 October 2019

VESTING DATE OF OPTIONS EXERCISED               28 September 2019

PERIOD OF EXERCISE                              Participants have a 30-day period from the
                                                strike date during which options can be
                                                exercised

NATURE OF TRANSACTION                           Exercise of share options by director on the
                                                exercise date at the closing price of R19.58
                                                per share, with settlement occurring on a net
                                                cash settled basis

NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
THE TRANSACTION

ACCEPTANCE OF OPTIONS BY DIRECTORS IN TERMS OF THE COMPANY SHARE
INCENTIVE SCHEME

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                               AJF Greyling
 
COMPANY OF WHICH A DIRECTOR                    Curro Holdings 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 Company
                                               Share Incentive Scheme (off-market
                                               transaction)

DATE OF ACCEPTANCE OF OPTIONS                  28 October 2019
DATE OF AWARD OF OPTIONS                       1 October 2019

OPTION STRIKE PRICE                            R19.81

NUMBER OF OPTIONS ACCEPTED                     474 400

VESTING DATES OF OPTIONS                       The options will vest in 4 tranches of 25%
                                               each, on the following dates:
                                               1 October 2021
                                               1 October 2022
                                               1 October 2023
                                               1 October 2024

PERIOD OF EXERCISE                             Participants have a 30-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                               B van der Linde

COMPANY OF WHICH A DIRECTOR                    Curro Holdings 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 Company
                                               Share Incentive Scheme (off-market
                                               transaction)

DATE OF ACCEPTANCE OF OPTIONS                  28 October 2019

DATE OF AWARD OF OPTIONS                       1 October 2019

OPTION STRIKE PRICE                            R19.81

NUMBER OF OPTIONS ACCEPTED                     297 500

VESTING DATES OF OPTIONS                       The options will vest in 4 tranches of 25%
                                               each, on the following dates:
                                               1 October 2021
                                               1 October 2022
                                               1 October 2023
                                               1 October 2024

PERIOD OF EXERCISE                             Participants have a 30-day period from
                                               the vesting date during which options can
                                               be exercised

NATURE AND EXTENT OF INTEREST IN               Direct, beneficial
THE TRANSACTION

Durbanville
28 October 2019

Sponsor
PSG Capital

Date: 28/10/2019 04:20:00
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