SAFARI INVESTMENTS (RSA) LIMITED - Acceptance of Shares Awarded to Directors and Prescribed Officers

Acceptance of Shares Awarded to Directors and Prescribed Officers

SAFARI INVESTMENTS (RSA) LIMITED
Approved as a REIT by the JSE Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2000/015002/06)
Share code: SAR | ISIN: ZAE000188280
(“Safari” or “the Company”)

ACCEPTANCE OF SHARES AWARDED TO DIRECTORS AND PRESCRIBED OFFICERS IN TERMS OF THE SAFARI EMPLOYEE LONG-TERM
SHARE INCENTIVE PLAN


In compliance with the JSE Limited Listings Requirements, the following information is disclosed:

DIRECTORS OF SAFARI

 Name                               : DC Engelbrecht
 Office held                        : Chief Executive Officer
 Date of acceptance                 : 30 July 2021
 Nature of transaction              : Off-market acceptance of a maximum potential conditional share awards (1) vesting on a 3-
                                    year rolling period starting July 2024 subject to the achievement of agreed key performance
                                    deliverables (2)
 Class of securities                : Ordinary shares
 Maximum number of shares           : 194 815
 Award price (3)                    : R3.82
 Total value of award               : R744 195.00
 Nature of interest                 : Direct beneficial
 Clearance obtained                 : Yes

 Name                               : WL Venter
 Office held                        : Chief Financial Officer
 Date of acceptance                 : 30 July 2021
 Nature of transaction              : Off-market acceptance of a maximum potential conditional share awards (1) vesting on a 3-
                                    year rolling period starting July 2024 subject to the achievement of agreed key performance
                                    deliverables (2)
 Class of securities                : Ordinary shares
 Maximum number of shares           : 174 346
 Award price (3)                    : R3.82
 Total value of award               : R666 000.00
 Nature of interest                 : Direct beneficial
 Clearance obtained                 : Yes

PRESCRIBED OFFICERS OF SAFARI

 Name                               : PWL van Niekerk
 Office held                        : Company Secretary and Legal Advisor
 Date of acceptance                 : 30 July 2021
 Nature of transaction              : Off-market acceptance of a maximum potential conditional share awards (1) vesting on a 3-
                                    year rolling period starting July 2024 subject to the achievement of agreed key performance
                                    deliverables (2)
 Class of securities                : Ordinary shares
 Maximum number of shares           : 49 075
 Award price (3)                    : R3.82
 Total value of award               : R187 467.00
 Nature of interest                 : Direct beneficial
 Clearance obtained                 : Yes

 Name                               : MC Basson
 Office held                        : Asset Manager
 Date of acceptance                 : 30 July 2021
 Nature of transaction              : Off-market acceptance of a maximum potential conditional share awards (1) vesting on a 3-
                                    year rolling period starting July 2024 subject to the achievement of agreed key performance
                                    deliverables (2)
 Class of securities                : Ordinary shares
 Maximum number of shares           : 50 890
 Award price (3)                    : R3.82
 Total value of award               : R194 400.00
 Nature of interest                 : Direct beneficial
 Clearance obtained                 : Yes

Note:
 1. Share award means the right of the employee to acquire shares granted in terms of the Safari Employee Long-term Share
     Incentive Plan of which i. 50% of the shares forming the subject of the award shall be in the form of performance shares and ii.
     50% of the shares forming the subject of the award shall be in the form of retention shares.
 2. The performance shares to be awarded are subject to measurement against the following performance conditions:
     i. Absolute Total Return measured against the risk-free rate annual average 10-year bond yield
    ii. Relative Total Return measured against adjusted FTSE / JSE REIT Index
   iii. Relative Total Shareholder Return measured against adjusted FTSE / JSE REIT Index
   iv. Average personal score on key deliverables over a 3-year rolling period.
 3. As the LTIP is share based and not option/price based, the Award price is illustrative only and has been calculated on a 30-trading
     day VWAP from 27 May 2021 to 12 July 2021, being the period immediately before the date on which the Company's
     Remuneration Committee determined the Awards and represents a maximum number of shares that can be issued to each
     participant.

Pretoria
3 August 2021

Sponsor
PSG Capital

Date: 03-08-2021 05:06:00
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