(kap.hosted.inet.co.za client unavailable)
KAP: KAP INDUSTRIAL HOLDINGS LIMITED - Dealings In Company Shares - Grant Of Share Rights To Directors And Lapsing Of Earlier Share Rights |
KAP: KAP INDUSTRIAL HOLDINGS LIMITED - Dealings In Company Shares - Grant Of Share Rights To Directors And Lapsing Of Earlier Share Rights Dealings In Company Shares - Grant Of Share Rights To Directors And Lapsing Of Earlier Share Rights KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1978/000181/06) Share code: KAP ISIN: ZAE000171963 ('KAP' or 'the Company') DEALINGS IN COMPANY SHARES - GRANT OF SHARE RIGHTS TO DIRECTORS AND LAPSING OF EARLIER SHARE RIGHTS GRANT OF 2019 SHARE RIGHTS In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, and in terms of the KAP Performance Share Rights Scheme ('KAP SRS'), shareholders are advised that off-market grants of share rights over ordinary shares of no par value in KAP ('KAP Shares') have been made to certain executive directors of KAP and of its major subsidiaries ('the 2019 Grant'). The following information is disclosed in respect of the 2019 Grant: o Following approval of the 2019 Grant on 13 August 2019 by the KAP Human Resources and Remuneration Committee, letters of grant with an effective grant date of 1 December 2019, were issued to participants. o In all instances, the share rights are held in a direct beneficial capacity. o The share rights shall mature on the third anniversary of the grant date, i.e. on 1 December 2022, and vesting is subject to the achievement of relevant performance criteria. o The rights are for KAP Shares and will expire after the maturity date if the rights have not vested. o The following number of share rights were granted to the below-mentioned applicable executive directors at R0.20 (twenty cents) per KAP share: Number of Value Name of director rights granted (R) GN Chaplin* 2 027 783 405 556.60 FH Olivier* 1 233 111 246 622.20 G Victor** 763 824 152 764.80 W Killian** 238 026 47 605.20 JN van Niekerk*** 720 588 144 117.60 WC Els*** 291 336 58 267.20 SP Lunga**** 576 471 115 294.20 * Director of KAP Industrial Holdings Ltd/PG Bison (Pty) Ltd/Safripol (Pty) Ltd/Unitrans Holdings (Pty) Ltd ** Director of PG Bison (Pty) Ltd *** Director of Safripol (Pty) Ltd **** Director of PG Bison (Pty) Ltd/Safripol (Pty) Ltd/Unitrans Holdings (Pty) Ltd The grant of the share rights has taken place in terms of the rules of the KAP SRS and accordingly, no clearance as contemplated in paragraph 3.66 of the JSE Limited Listings Requirements, is required. LAPSING OF 2016 SHARE RIGHTS Shareholders are advised that the share rights granted to participants under the KAP SRS effective 1 December 2016, which were due for vesting on 1 December 2019, have lapsed as the performance criteria have not been achieved. The rights to these shares have been cancelled in accordance with the provisions of the KAP SRS. By order of the Board KAP Secretarial Services Proprietary Limited Stellenbosch 2 December 2019 Sponsor PSG Capital Date: 02-12-2019 03:00:00 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. |
2019-12-02 15:00:00 Source: JSE News Service (SENS) |
Attachments
- Original document
- Permalink
Disclaimer
KAP Industrial Holdings Ltd. published this content on 02 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2019 13:09:07 UTC