ACCEPTANCE OF AWARDS IN TERMS OF THE ADCORP LONG-TERM INCENTIVE (“LTI”) PLAN
ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
(“Adcorp” or “the Company“)
ACCEPTANCE OF AWARDS IN TERMS OF THE ADCORP LONG-TERM INCENTIVE (“LTI”) PLAN
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the acceptance of awards by participants in terms of the Adcorp LTI Plan are herewith disclosed:
| NAME OF PARTICIPANTS
|
Dr John Wentzel (1)
Mr Noel Prendergast (2) Mr Bruce Toerien (3) Ms Heidi Duvenage (4) Ms Natasha Parmanand (5) Mr Zeb Riddell (6) Mr Darran Butcher (7) |
| COMPANY OF WHICH A DIRECTOR | Adcorp Holdings Limited (1 – 2)
Adcorp Workforce Solutions (5) |
| COMPANY OF WHICH A PRESCRIBED OFFICER | Adcorp Holdings Limited (3 – 7) |
| STATUS
|
Executive Director (1 – 2)
Prescribed Officer and Managing Director: Contingent Staffing South Africa (3) Prescribed Officer and Managing Director: Professional Services South Africa (4) Director of Major Subsidiary – Adcorp Workforce Solutions, Prescribed Officer and Managing Director: Staffing Solutions (5) Prescribed Officer and Managing Director: Contingent Staffing Australia (6) Prescribed Officer and Managing Director: Professional Services Australia (7) |
| CLASS OF SECURITIES
|
Ordinary Shares (1 – 7) |
| NATURE OF TRANSACTIONS
|
Acceptance of awards in terms of the Adcorp LTI Plan (Non-Schedule 14 Plan) through the award of forfeitable shares (or the right to receive same) and conditional shares (off-market transactions) (1 – 7) |
| DATE OF ACCEPTANCE OF AWARD
|
4 July 2025 (3, 4, 5)
8 July 2025 (1, 2, 6, 7) |
| DATE OF VESTING | 30 June 2028 (1 – 7)
(Subject to the fulfilment of vesting conditions per the new Adcorp LTI Plan) |
| DEEMED PRICE PER SHARE
|
R6.57 (1 – 7)
(Based on the 7-day volume weighted average price on 11 June 2025) |
| NUMBER OF SECURITIES AWARDED (FORFEITABLE SHARES)
|
782 213 (1)
319 686 (2) 120 061 (3) 117 265 (4) 133 927 (5) 126 082 (6) 126 082 (7) |
| NUMBER OF SECURITIES AWARDED (CONDITIONAL SHARES)
|
335 234 (1)
137 008 (2) 180 092 (3) 175 897 (4) 200 890 (5) 189 123 (6) 189 123 (7) |
| DEEMED TOTAL RAND VALUE OF SECURITIES (FORFEITABLE AND CONDITIONAL SHARES)
|
R 7 341 626.79 (1)
R 3 000 479.58 (2) R 1 972 005.21 (3) R 1 926 074.34 (4) R 2 199 747.69 (5) R 2 070 896.85 (6) R 2 070 896.85 (7) (Based on deemed price per share) |
| NATURE AND EXTENT OF PARTICIPANTS INTEREST IN THE TRANSACTIONS | Direct, beneficial |
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.
Johannesburg
9 July 2025
Sponsor
Valeo Capital (Pty) Ltd