TIGER BRANDS LIMITED - Tiger Brands Limited 2013 Share Plan: Dealing In Securities

Tiger Brands Limited 2013 Share Plan: Dealing In Securities

TIGER BRANDS LIMITED
“Tiger Brands”
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080


Tiger Brands Limited 2013 Share Plan: Dealing In Securities


In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of JSE Limited (“the JSE”),
shareholders are advised that Tiger Brands Limited (“the Company”) has offered on 13 February
2013 (“the Offer Date”), Performance Vesting Share Appreciation Rights (“SARS”) and Performance
Vesting Shares (“PVS”) to directors of the Company and directors of a major subsidiary of the
Company (“the Participants”), as set out below. The offers were accepted on 6 March 2013.

SARS are allocated at an allocation price equal to the volume weighted average price of a Tiger
Brands share on the JSE over the 10 trading days immediately prior to the Offer Date (“the Allocation
Price”). Provided that the performance criteria are met, one-third of the SARS allocation will vest on
each of the third, fourth and fifth anniversary dates of the Offer Date (in terms of the performance
criteria, the number of SARS vesting in relation to the full number allocated is progressively reduced
if company financial performance targets are not met). The Participants may elect to delay exercise
of the SARS to some future date not exceeding the sixth anniversary of the Offer Date. The value of
the SARS which a Participant may exercise will be calculated with reference to the difference
between the closing price of a Tiger Brands share on the date on which a Participant exercises his
SARS and the Allocation Price. The Company, at its sole and absolute discretion, can decide to settle
the value of the SARS to the Participant in Tiger Brands shares or in cash.

PVS are conditionally awarded for nil consideration with the final number settled after three years
from the Offer Date dependent on the performance criteria set being met. The number of shares to
be settled will range from 0% to 300% of the conditional award. The determined number of PVS will
be settled to the Participant in shares or in cash, at the Company’s sole and absolute discretion.

The SARS and PVS offered may be summarised as follows:

Name                      Position                   No. Of SARS allocated                No. Of PVS
                                                                               conditionally awarded
P B Matlare               Director                                   16 300                    4 100
C F H Vaux                Director                                   10 300                    2 200
O Ighodaro                Director                                    9 500                    2 000
N Segoale                 Director of Major                          10 300                    2 200
                          Subsidiary
N G Brimacombe            Director of Major                          10 000                     2 200
                          Subsidiary
I W M Isdale              Company Secretary                           5 300                     1 000
                          and Director of Major
                          Subsidiary

The following are applicable to all of the above:
-   Class of underlying security
    to which rights attach                      ordinary shares
-   SARS Allocation Price per share             R299.83
-   PVS Award Price per share                   not applicable
-   Nature of transaction                       off market allocation of SARS and award of PVS
-   Nature of interest                          direct beneficial

In accordance with section 3.66 of the Listings Requirements the necessary clearance was obtained
to offer the abovementioned SARS and PVS.


Bryanston
07 March 2013

Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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