CALGRO M3 HOLDINGS LIMITED - Acceptance of options awarded in terms of the Calgro Share Incentive Scheme

Acceptance of options awarded in terms of the Calgro Share Incentive Scheme

CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/027663/06)
JSE Share code: CGR
ISIN: ZAE000109203
Company Alpha Code: CGRI1
LEI: 3789003B0859E9438F25
(“Calgro” or “the Company”)

ACCEPTANCE OF OPTIONS AWARDED IN TERMS OF THE CALGRO SHARE INCENTIVE
SCHEME

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following
information regarding the acceptance of options by directors of Calgro and a major subsidiary, in
terms of the Calgro Share Incentive Scheme, are disclosed:

 NAME OF DIRECTOR                                 Sayuri Naicker                             (1)
                                                  Wayne Williams                             (2)
                                                  Willem Adolph (Waldi) Joubert              (3)
                                                  Allistiar Langson                          (4)

 COMPANY OF WHICH A DIRECTOR                      Calgro M3 Holdings Limited               (1-3)
                                                  Calgro M3 Developments (Pty) Ltd
                                                  (a major subsidiary of Calgro)             (4)

 STATUS: EXECUTIVE/NON-EXECUTIVE                  Executive

 TYPE AND CLASS OF SECURITIES                     Options to acquire ordinary shares

 NATURE OF TRANSACTION                            Acceptance of an award of options to acquire
                                                  ordinary shares in terms of the Calgro Share
                                                  Incentive Scheme (off-market transaction)

 DATE OF AWARD OF OPTIONS                         16 May 2023

 DATE OF ACCEPTANCE OF OPTIONS                    25 May 2023

 OPTION STRIKE PRICE                              Nil cost

 NUMBER OF OPTIONS ACCEPTED                       1 200 000                                  (1)
                                                  1 500 000                                  (2)
                                                  1 500 000                                  (3)
                                                  1 000 000                                  (4)

 TOTAL DEEMED RAND VALUE OF OPTIONS               R3 924 000                                 (1)
 ACCEPTED                                         R4 905 000                                 (2)
                                                  R4 905 000                                 (3)
                                                  R3 270 000                                 (4)

                                                  Based on the closing share price of R3.27 on
                                                  24 May 2023
 VESTING DATES OF OPTIONS                         The options will vest in 5 tranches of 20% each,
                                                  on the following dates:

                                                  15 January 2024
                                                  15 January 2025
                                                  15 January 2026
                                                  15 January 2027
                                                  15 January 2028

 PERIOD OF EXERCISE                               Participants have a 120 day period from the
                                                  vesting date during which options can be
                                                  exercised

 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.

Johannesburg
26 May 2023

Equity and Debt Sponsor
PSG Capital

Date: 26-05-2023 09:21:00
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.