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Settlement Of Awards Under Kaap Agri’s Long-Term Incentive Plan
KAAP AGRI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
ISIN: ZAE000244711
Share code: KAL
(“Kaap Agri” or the “Company”)
SETTLEMENT OF AWARDS UNDER KAAP AGRI’S LONG-TERM INCENTIVE PLAN
Shareholders are referred to the Kaap Agri SENS announcement dated 30 September 2022
(“Announcement”) advising, inter alia, that the Company’s remuneration committee had
approved the conversion of Kaap Agri’s previous management share incentive scheme
(“Previous Scheme”) to a non-dilutionary equity-settled long-term incentive plan (“LTIP”). The
Announcement further advised that rights previously granted under the Previous Scheme
have migrated and been converted to nil-cost options (“NCOs”) governed by the amended
rules of the LTIP, although the vesting dates and performance hurdles applicable to such
grants remain in place (“Converted Awards”).
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the after-tax net-equity settlement of Converted Awards, which
vested on 1 October 2022, is disclosed:
1.
NAME OF DIRECTOR S Walsh
COMPANY OF WHICH A DIRECTOR Kaap Agri
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 20 January 2023
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2022)
NUMBER OF NCOs VESTED 50 580
TOTAL VALUE OF NCOs SETTLED R2 100 228.33
NUMBER OF ORDINARY SHARES 27 819
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
2.
NAME OF DIRECTOR GW Sim
COMPANY OF WHICH A DIRECTOR Kaap Agri
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 20 January 2023
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2022)
NUMBER OF NCOs VESTED 21 338
TOTAL VALUE OF NCOs SETTLED R886 015.66
NUMBER OF ORDINARY SHARES 11 735
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
3.
NAME OF DIRECTOR DC Gempies
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of Kaap Agri)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 20 January 2023
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2022)
NUMBER OF NCOs VESTED 11 894
TOTAL VALUE OF NCOs SETTLED R493 873.38
NUMBER OF ORDINARY SHARES 6 541
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
4.
NAME OF DIRECTOR H Smit
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of Kaap Agri)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 20 January 2023
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2022)
NUMBER OF NCOs VESTED 10 447
TOTAL VALUE OF NCOs SETTLED R433 789.75
NUMBER OF ORDINARY SHARES 5 745
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
5.
NAME OF DIRECTOR T Sulaiman-Bray
COMPANY OF WHICH A DIRECTOR Kaap Agri Bedryf Limited
(a major subsidiary of Kaap Agri)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Nil-cost options in relation to ordinary
shares
NATURE OF TRANSACTION After-tax net-equity settlement of NCOs,
resulting in the delivery of ordinary shares
to a participant under the LTIP
(off-market transaction)
TRANSACTION DATE 20 January 2023
(SETTLEMENT DATE)
(Settlement to occur within 120 days of
the applicable vesting date of 1 October
2022)
NUMBER OF NCOs VESTED 10 843
TOTAL VALUE OF NCOs SETTLED R450 232.82
NUMBER OF ORDINARY SHARES 5 963
RECEIVED (POST-TAX)
NATURE AND EXTENT OF INTEREST IN Direct, beneficial
THE TRANSACTION
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.
Paarl
20 January 2023
Sponsor
PSG Capital
Date: 20-01-2023 11:00:00
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