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Acceptance Of Allocated Phantom Share Rights In Terms Of The Pioneer Foods Equity Settled Phantom Share Plan
Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
(“Pioneer Foods” or “the Company”)
ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE PIONEER FOODS
EQUITY SETTLED PHANTOM SHARE PLAN
In compliance with rules 3.63 to 3.74 of the JSE Listings Requirements,
the following information is disclosed:
1.
NAME OF DIRECTOR PM Roux
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2017
DATE OF PHANTOM SHARE RIGHT ACCEPTANCE 17 March 2017
PHANTOM SHARE RIGHT STRIKE PRICE 16 620
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 117 701
ALLOCATED
STRIKE DATES OF PHANTOM SHARE RIGHTS 22 February 2020; 22 February
2021 and 22 February 2022
PERIOD OF EXERCISE Participants have until
midnight on the 6 month
anniversary of the relevant
vesting date during which the
Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN THE
TRANSACTION Direct, Beneficial
2.
NAME OF DIRECTOR JA Jacobs
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive – Company Secretary
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2017
DATE OF PHANTOM SHARE RIGHT ACCEPTANCE 17 March 2017
PHANTOM SHARE RIGHT STRIKE PRICE 16 620
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 17 949
ALLOCATED
STRIKE DATES OF PHANTOM SHARE RIGHTS 22 February 2020; 22 February
2021 and 22 February 2022
PERIOD OF EXERCISE Participants have until
midnight on the 6 month
anniversary of the relevant
vesting date during which the
Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN THE
TRANSACTION Direct, Beneficial
3.
NAME OF DIRECTOR/COMPANY SECRETARY F Lombard
COMPANY OF WHICH I AM A DIRECTOR Pioneer Foods Groceries
Proprietary Limited(major
subsidiary)
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2017
DATE OF PHANTOM SHARE RIGHT ACCEPTANCE 17 March 2017
PHANTOM SHARE RIGHT STRIKE PRICE 16 620
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 60 776
ALLOCATED
STRIKE DATES OF PHANTOM SHARE RIGHTS 22 February 2020; 22 February
2021 and 22 February 2022
PERIOD OF EXERCISE Participants have until
midnight on the 6 month
anniversary of the relevant
vesting date during which the
Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN THE
TRANSACTION Direct, Beneficial
4.
NAME OF DIRECTOR/COMPANY SECRETARY CR Lamprecht
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2017
DATE OF PHANTOM SHARE RIGHT ACCEPTANCE 17 March 2017
PHANTOM SHARE RIGHT STRIKE PRICE 16 620
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 20 699
ALLOCATED
STRIKE DATES OF PHANTOM SHARE RIGHTS 22 February 2020; 22 February
2021 and 22 February 2022
PERIOD OF EXERCISE Participants have until
midnight on the 6 month
anniversary of the relevant
vesting date during which the
Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN THE
TRANSACTION Direct, Beneficial
Notes:
a. Clearance to deal in these Phantom Share Rights was obtained in
accordance with Rule 3.66 of the JSE Listings Requirements.
b. 50% of the Phantom Share Rights will vest in 3 tranches of 33.33% each
on the vesting dates specified above.
c. The remaining 50% of the Phantom Share Rights will vest in 3 tranches
of 33.33% on the vesting dates specified above, subject to a formula
based on the compound growth of the Company´s headline earnings per
share from the financial year prior to the date of grant of the Phantom
Share Rights to the financial year prior to the date of exercise.
d. The total number of Pioneer Foods shares that will be issued to the
directors pursuant to the exercise of the Phantom Share Rights will be
determined according to a formula based on the growth in the share
price of Pioneer Foods from the date of grant of the Phantom Share
Rights to the date of exercise. Accordingly, the total number of shares
and monetary value thereof will only be determined at a future date.
e. An additional SENS announcement will be made upon the exercise of the
Phantom Share Rights by each director disclosing the exact number of
shares issued and the monetary value thereof in accordance with the JSE
Listings Requirements.
20 March 2017
Bellville
Sponsor
PSG Capital
Date: 20/03/2017 12:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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information disseminated through SENS.
