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Dealings in Securities
LIBERTY TWO DEGREES LIMITED
(Registration number: 2018/388906/06)
JSE share code: L2D
ISIN: ZAE000260576
(“L2D” or “the Company”)
DEALINGS IN SECURITIES
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, L2D hereby
announces the following transactions for the Directors of the Company in terms of L2D’s Restricted
Share Plan (“the “LTIP”).
1. FORFEITURE OF RESTRICTED SHARES PREVIOUSLY AWARDED
As a result of the performance condition, being distribution growth in excess of inflation, not being met
in respect of 100% of the first tranche of performance-based restricted shares awarded on 1 March
2018, the following restricted ordinary shares held by the executive directors were forfeited on 1 March
2021:
Director Amelia Beattie
Number of securities forfeited 166 650 ordinary shares
Notional value per share * R4.78
Total notional value lost R796 587.00
Director José Snyders
Number of securities forfeited 124 987 ordinary shares
Notional value per share * R4.78
Total notional value lost R597 437.86
2. VESTING OF RESTRICTED SHARES PREVIOUSLY AWARDED
The following restricted ordinary shares below were awarded by STANLIB REIT Fund Managers (RF)
Proprietary Limited (“SRFM” or “Manager”) prior to the conversion of L2D to a Corporate REIT, and
the cost of these were carried by Liberty Holdings Limited as the previous 100% shareholder of
SRFM.
VESTING OF SHARE AWARDS | GROSS OF TAXATION
Director Amelia Beattie
Date of award 6 December 2016
Date of transaction (Vesting date) 1 March 2021
Number of securities 140 351 ordinary shares
Nature of transaction Off-market vesting of restricted share awards in
respect of the second tranche of share awards made
on the listing of L2D in terms of the LTIP
Vesting periods One-third on 1 March 2020 (already vested), another
one-third on 1 March 2021 and the balance on 1
March 2022. No performance conditionality applies
Price per share * R4.78
Total value of transaction R670 877.78
Nature and extent of interest Direct beneficial
Director José Snyders
Date of award 1 March 2017
Date of transaction (Vesting date) 1 March 2021
Number of securities 40 849 ordinary shares
Nature of transaction Off-market vesting of restricted share awards in
respect of the second tranche of share awards made
on appointment to L2D
Vesting periods One-third on 1 March 2020 (already vested), another
one-third on 1 March 2021 and the balance on 1
March 2022. No performance conditionality applies
Price per share * R4.78
Total value of transaction R195 258.22
Nature and extent of interest Direct beneficial
SALE OF SHARES ON-MARKET TO COVER TAX LIABILITY
Director Amelia Beattie
Date of transaction 1 March 2021
Number of securities 68 881 ordinary shares
Price per share R4.40
Total value of transaction R303 076.40
Nature and extent of interest Direct beneficial
Director José Snyders
Date of transaction 1 March 2021
Number of securities 20 048 ordinary shares
Price per share R4.40
Total value of transaction R88 211.20
Nature and extent of interest Direct beneficial
VESTING OF SHARE AWARDS | NET OF TAXATION
Director Amelia Beattie
Date of award 6 December 2016
Date of transaction (Vesting date) 1 March 2021
Number of securities 71 470 ordinary shares
Nature of transaction Off-market vesting of restricted share awards in
respect of the second tranche of share awards made
on the listing of L2D in terms of the LTIP
Vesting periods One-third on 1 March 2020 (already vested), another
one-third on 1 March 2021 and the balance on 1
March 2022. No performance conditionality applies
Price per share * R4.78
Total value of transaction R341 626.60
Nature and extent of interest Direct beneficial
Director José Snyders
Date of award 1 March 2017
Date of transaction (Vesting date) 1 March 2021
Number of securities 20 801 ordinary shares
Nature of transaction Off-market vesting of restricted share awards in
respect of the second tranche of share awards made
on the listing of L2D in terms of the LTIP
Vesting periods One-third on 1 March 2020 (already vested), another
one-third on 1 March 2021 and the balance on 1
March 2022. No performance conditionality applies
Price per share * R4.78
Total value of transaction R99 428.78
Nature and extent of interest Direct beneficial
3. GRANT AND ACCEPTANCE OF SHARE AWARDS BY THE EXECUTIVE DIRECTORS AND
THE COMPANY SECRETARY
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, L2D hereby
announces that the Directors and Company Secretary of the Company have been granted, and have
accepted, share awards in terms of L2D’s Long-Term Incentive Plan (“the LTIP”).
L2D’s Remuneration Committee approved the following share awards which are subject to
performance conditions:
Director Amelia Beattie
Acceptance date 1 March 2021
Number of securities 836 820
Nature of transaction Off-market award and acceptance of share awards in
terms of the LTIP
Vesting periods One-third on 1 March 2024, another one-third on 1
March 2025 and the balance on 1 March 2026
subject to performance conditions being distribution
growth, total return of assets against the MSCI
benchmark and a strategic component
Price per share * R4.78
Total value of transaction R3 999 999.60
Nature and extent of interest Indirect beneficial, via L2D’s Restricted Share Plan
Trust
Director Amelia Beattie
Acceptance date 1 March 2021
Number of securities 55 900
Nature of transaction Off-market award and acceptance of share awards in
respect of a portion of short-term incentive
remuneration being deferred and converted into
restricted shares in terms of the LTIP
Vesting periods One-third on 1 September 2022, another one-third
on 1 September 2023 and the balance on 1
September 2024. No conditionality applies
Price per share * R4.78
Total value of transaction R267 202.00
Nature and extent of interest Indirect beneficial, via L2D’s Restricted Share Plan
Trust
Director (Financial Director) José Snyders
Acceptance date 1 March 2021
Number of securities 543 933
Nature of transaction Off-market award and acceptance of share awards in
terms of the LTIP
Vesting periods One-third on 1 March 2024, another one-third on 1
March 2025 and the balance on 1 March 2026
subject to performance conditions being distribution
growth, total return of assets against the MSCI
benchmark and a strategic component
Price per share * R4.78
Total value of transaction R2 599 999.74
Nature and extent of interest Indirect beneficial, via L2D’s Restricted Share Plan
Trust
Director (Financial Director) José Snyders
Acceptance date 1 March 2021
Number of securities 41 841
Nature of transaction Off-market award and acceptance of share awards in
respect of a portion of short-term incentive
remuneration being deferred and converted into
restricted shares in terms of the LTIP
Vesting periods One-third on 1 September 2022, another one-third
on 1 September 2023 and the balance on 1
September 2024. No conditionality applies
Price per share * R4.78
Total value of transaction R199 999.98
Nature and extent of interest Indirect beneficial, via L2D’s Restricted Share Plan
Trust
Company Secretary Ben Swanepoel
Acceptance date 1 March 2021
Number of securities 78 452
Nature of transaction Off-market award and acceptance of share awards in
terms of the LTIP
Vesting periods One-third on 1 March 2024, another one-third on 1
March 2025 and the balance on 1 March 2026
subject to performance conditions being distribution
growth, total return of assets against the MSCI
benchmark and a strategic component
Price per share * R4.78
Total value of transaction R375 000.56
Nature and extent of interest Indirect beneficial, via L2D’s Restricted Share Plan
Trust
Clearance to trade was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.
* The price per share is the closing price of the L2D ordinary share on Friday, 26 February 2021.
Johannesburg
4 March 2021
Sponsor:
The Standard Bank of South Africa Limited
Investor Relations
Gareth Rees
Contact number: 011 448 6804
Date: 04-03-2021 09:15:00
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