TIGER BRANDS LIMITED - Tiger Brands Limited 2013 Share Plan: Dealing In Securities

Tiger Brands Limited 2013 Share Plan: Dealing In Securities

TIGER BRANDS LIMITED
“Tiger Brands”
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080

Tiger Brands Limited 2013 Share Plan: Dealing In Securities

In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of JSE Limited (“the JSE”),
shareholders are advised that Tiger Brands Limited (“the Company”) has offered on 30 September
2013 (“the Offer Date”), Performance Vesting Share Appreciation Rights (“SARs”) to a director of the
Company and a director of a major subsidiary of the Company (“the Participants”), as set out below.
The offers were accepted on 30 September 2013.

SARs are allocated at an allocation price equal to the volume weighted average price of a Tiger
Brands share on the JSE over the 10 trading days immediately prior to the Offer Date (“the Allocation
Price”). Provided that the performance criteria are met, one-third of the SARs allocation will vest on
each of the third, fourth and fifth anniversary dates of the Offer Date (in terms of the performance
criteria, the number of SARs vesting in relation to the full number allocated is progressively reduced
if company financial performance targets are not met). The Participants may elect to delay exercise
of the SARs to some future date not exceeding the sixth anniversary of the Offer Date. The value of
the SARs which a Participant may exercise will be calculated with reference to the difference
between the closing price of a Tiger Brands share on the date on which a Participant exercises his
SARs and the Allocation Price. The Company, at its sole and absolute discretion, can decide to settle
the value of the SARs to the Participant in Tiger Brands shares or in cash.

The SARs offered are as follows:

Name                 Position                             Company                          No of SARs
                                                                                           allocated
O Ighodaro           Director                             Tiger Brands Limited             21,200
N G Brimacombe       Director of Major Subsidiary         Tiger Consumer Brands Limited    20,100

The following are applicable to all of the above:

-   Class of underlying security
    to which rights attach                          ordinary shares
-   SARs Allocation Price per share                 R298.67
-   Nature of transaction                           off-market allocation of SARs
-   Nature of interest                              direct beneficial

In accordance with section 3.66 of the Listings Requirements the necessary clearance was obtained
to offer the abovementioned SARs.

Bryanston

Date: 30 September 2013

Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

Date: 30/09/2013 05:00:00 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.