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) Mr Nick Najjar (4) Mr Praanesh Prasad (5) Ms Vinolia Singh (6) Ms Lisa Laporte (7) |
| COMPANY OF WHICH A DIRECTOR | Adcorp Holdings Limited (1 – 2) Adcorp Workforce Solutions (6) |
| COMPANY OF WHICH A PRESCRIBED OFFICER | Adcorp Holdings Limited (3 – 5) |
| COMPANY OF WHICH THE COMPANY SECRETARY | Adcorp Holdings Limited (7) |
| STATUS | Executive Director (1 – 2)
Prescribed Officer and Managing Director: Contingent (3) Prescribed Officer and Managing Director: Professional (4) Prescribed Officer and Managing Director: Adcorp Australia (5) Director of Adcorp Workforce Solutions: Chief People Officer (6) Company Secretary (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 | 29 February 2024 (1 – 7) |
| DATE OF VESTING | 1 June 2026 (1 – 7)
(Subject to the fulfilment of vesting conditions per the new Adcorp LTI Plan) |
| DEEMED PRICE PER SHARE (CENTS) | 3.92 (1 – 7) (Based on the 7-day volume weighted average price on 27 February 2024) |
| NUMBER OF SECURITIES AWARDED (FORFEITABLE SHARES) | 873 272 (1)
348 972 (2) 135 321 (3) 139 459 (4) 200 740 (5) 111 564 (6) 72 028 (7) |
| NUMBER OF SECURITIES AWARDED (CONDITIONAL SHARES) | 374 259 (1)
149 559 (2) 202 981 (3) 209 189 (4) 301 110 (5) 260 316 (6) 168 064 (7) |
| DEEMED TOTAL RAND VALUE OF
SECURITIES (FORFEITABLE AND CONDITIONAL SHARES) |
R 4 890 321.52 (1)
R 1 954 241.52 (2) R 1 326 143.84 (3) R 1 366 700.16 (4) R 1 967 252.00 (5) R 1 457 769.60 (6) R 941 160.64 (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
5 March 2024
Sponsor
Valeo Capital (Pty) Ltd