LEWIS GROUP LIMITED - Directors Dealings in Securities

Directors Dealings in Securities

Lewis Group Limited
Incorporated in the Republic of South Africa
Registration number: 2004/009817/06
JSE share code: LEW
ISIN: ZAE000058236
Bond code: LEWI
(“Lewis Group” or “the group”)

Directors Dealings in Securities

In compliance with the requirements 3.63 to 3.74 of the JSE Listings
Requirements, the following should be noted:

1.     The Lewis 2019 Executive Retention Scheme

Senior executives who are invited to co-invest have earned an annual
bonus and have achieved the requisite performance targets set for
them. These eligible executives can elect to invest f r o m 1 0 % u p
a maximum percentage set by the Remuneration Committee
(“the    Committee”)for     each    executive.     The   Committee
cannot set the percentage so determined above 100%.

These invested shares (i.e. shares acquired using the executive’s
net bonus) are held on behalf of executives for a period of three
years and matching shares equal to the before tax bonus are awarded
for no consideration at the end of the period. The invested shares
are purchased by the employee share trust on the open market on
behalf of executives.

The matching share award will lapse, should the executive terminate
his or her employment before the completion of the three year period
other than in the event of death, ill-health, retirement or
retrenchment.

The following executives elected on 28 August 2020 to invest their
percentage of the net bonus        in  the company’s  shares  and,
consequently, matching share awards were awarded to them under the
Lewis 2019 Executive Retention Scheme:

                                         Invested   Matching     Total
     Executive        Designation         Shares      Share      Value
                                                      Award
J. Enslin        Executive Director,      56 181     102 147   R2 718 682
                 Lewis Group Ltd
J. Bestbier      Executive Director,      34 999    63 635     R1 693 659
                 Lewis Group Ltd
D. Loudon        Director,                22 236    40 429     R1 076 030
                 Lewis Stores (Pty)
                 Ltd
R. Oliphant      Director,                21 036     38 247    R1 017 968
                 Lewis Stores (Pty)
                 Ltd

The invested shares were purchased on the open market on 28 August to 1
September 2020 at an average price of 1 7 . 1 7 , with the highest and
lowest price paid being R18.27 and R15.74 respectively. The matching
share awards will be received by the scheme participants for no
consideration.
 2.      The Lewis 2019 Executive Performance Scheme


 In terms of the scheme, executives have been offered the right to
 acquire shares of the company for no consideration subject to the
 achievement of performance targets. The share awards under this
 scheme will lapse, should the executive terminate his or her
 employment before the completion of the period of the award other
 than in the event of death, ill-health, retirement or retrenchment.

 The Committee have agreed to grant the executives a three year
 award under this scheme, details which are set out below.


 The performance targets are set by the Committee at the beginning of
 the each of the 3 years and are based on a weighting set for each
 executive depending on their daily employment responsibilities, of
 the following:

         -   Headline earnings per share
         -   Quality of the debtors book
         -   Gross margin


 The following executives have been granted awards on      28   August
 2020 under the Lewis 2019 Executive Performance Scheme

                                           Maximum No.
      Executive         Designation        of     Shares                  Value
                                           (for       no
 J. Enslin   Executive Director,                438 977
                                           consideratio                  R6 540 757
             Lewis Group Limited           n)
 J. Bestbier Executive Director,                270 771                  R4 034 488
             Lewis Group Ltd
 W.Achmat    Director,                         146 357                   R2 180 719
             Lewis Stores (Pty) Ltd
 D. Loudon   Director,                         149 529                   R2 227 982
             Lewis Stores (Pty) Ltd
 R. Oliphant (Pty) Ltd
             Director,                         142 740                   R2 126 826
             Lewis Stores (Pty) Ltd
             (Pty) Ltd
The above values are deemed values based on a market price of
R14.90, calculated in terms of the rules of the scheme.

All the transactions as set out in 1 to 2 above were for the direct
benefit of the director. The requisite clearances have been obtained.


Cape Town
3 September 2020

Sponsor
UBS South Africa (Pty) Ltd

Debt sponsor
Absa Bank Limited acting through its Corporate and Investment Banking
Division

Date: 03-09-2020 07:05:00
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