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Exercise of Shar Appreciation Rights by a Director, Prescribed Officers and a Director of a Major Subsidiary
Workforce Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF ISIN: ZAE000087847
EXERCISE OF SHARE APPRECIATION RIGHTS BY A DIRECTOR, PRESCRIBED OFFICERS AND A
DIRECTOR OF A MAJOR SUBSIDIARY
In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of JSE Limited (“JSE”),
the following is disclosed:
Name of director: Willem Petrus van Wyk
Company: Workforce Holdings Limited
Nature of transaction: Off market exercise of 1 000 000 share appreciation rights
(“SARS”) in respect of the employee share appreciation rights
scheme (“Scheme”). The benefit attributable to the director is the
difference between the average traded price over the three
month period preceding the vesting date (“market price”)
(R1.6739) and the SARs allocation price (R1.23), settled by the
Scheme through the award of ordinary shares from the
Company’s treasury shares (“treasury shares”) at market price,
to the value of the net after tax gain realised, amounting to
145 887 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 145 887
Total value of shares awarded: R244 200.24
Clearance to deal obtained: Yes
Name of prescribed officer: Steven Herscovitz
Company: Workforce Holdings Limited
Nature of transaction: Off market exercise of 1 000 000 SARs in respect of the Scheme.
The benefit attributable to the director is the difference between
the market price (R1.6739) and the SARs allocation price
(R1.23), settled by the Scheme through the award of treasury
shares at market price, to the value of the net after tax gain
realised, amounting to 145 887 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 145 887
Total value of shares awarded: R244 200.24
Clearance to deal obtained: Yes
Name of prescribed officer: Evelyn Vanassche
Company: Workforce Holdings Limited
Nature of transaction: Off market exercise of 650 000 SARs in respect of the Scheme.
The benefit attributable to the director is the difference between
the market price (R1.6739) and the SARs allocation price
(R1.23), settled by the Scheme through the award of treasury
shares at market price, to the value of the net after tax gain
realised, amounting to 94 827 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 94 827
Total value of shares awarded: R158 730.91
Clearance to deal obtained: Yes
Name of prescribed officer: Donald Houston-Mcmillan
Company: Workforce Holdings Limited
Nature of transaction: Off market exercise of 650 000 SARs in respect of the Scheme.
The benefit attributable to the director is the difference between
the market price (R1.6739) and the SARs allocation price
(R1.23), settled by the Scheme through the award of treasury
shares at market price, to the value of the net after tax gain
realised, amounting to 94 827 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 94 827
Total value of shares awarded: R158 730.91
Clearance to deal obtained: Yes
Name of prescribed officer: Jonathan Kruger
Company: Workforce Holdings Limited
Nature of transaction: Off-market exercise of 650 000 SARs in respect of the Scheme.
The benefit attributable to the director is the difference between
the market price (R1.6739) and the SARs allocation price
(R1.23), settled by the Scheme through the award of treasury
shares at market price, to the value of the net after tax gain
realised, amounting to 94 827 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 94 827
Total value of shares awarded: R158 730.91
Clearance to deal obtained: Yes
Name of director: Sean Jacobus Momberg
Company: Workforce Staffing Proprietary Limited, a major subsidiary of
Workforce Holdings Limited
Nature of transaction: Off market exercise of 1 000 000 SARs in respect of the Scheme.
The benefit attributable to the director is the difference between
the market price (R1.6739) and the SARs allocation price
(R1.23), settled by the Scheme through the award of treasury
shares at market price, to the value of the net after tax gain
realised, amounting to 145 887 shares.
Class of securities: Ordinary shares
Extent of director’s interest: Direct beneficial
Grant date: 27 November 2019
Vesting date: 27 November 2022
Exercise date: 8 May 2023
Number of shares awarded: 145 887
Total value of shares awarded: R244 200.24
Clearance to deal obtained: Yes
Johannesburg
10 May 2023
Designated Adviser
Merchantec Capital
Date: 10-05-2023 11:00:00
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