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Acceptance of Options by Executive Directors and Directors of Major Subsidiaries
TASTE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2000/002239/06)
Share code: TAS ISIN: ZAE000081162
(“Taste”)
ACCEPTANCE OF OPTIONS BY EXECUTIVE DIRECTORS AND DIRECTORS OF MAJOR SUBSIDIARIES
In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of JSE Limited, the
following is disclosed:
Name of director: Mr Carlo Gonzaga
Company: Taste Holdings Limited
Date of transaction: 3 June 2016
Nature of the transaction: Off market granting and acceptance of performance share
options and retention share options in terms of the Taste
Holdings Share Trust
Class of securities: Options in respect of ordinary shares
Performance share options Retention share options
Number of options granted: 1 205 490 694 110*
Option strike price: R2.55 R0.00
Total value of transaction: R3 073 999.50 Not applicable
Extent of director’s interest: Direct beneficial
Clearance to deal obtained: Yes
*Additional Information: 647 177 existing options with a grant date of 29 July 2014
and strike price of 372 cents per option were converted into
retention share options which comprise 174 502 of the
694 110 retention share options granted.
Name of director: Mr Duncan Crosson
Company: Taste Holdings Limited
Date of transaction: 3 June 2016
Nature of the transaction: Off market granting and acceptance of performance share
options and retention share options in terms of the Taste
Holdings Share Trust
Class of securities: Options in respect of ordinary shares
Performance share options Retention share options
Number of options granted: 1 987 923 1 161 888*
Option strike price: R2.55 R0.00
Total value of transaction: R5 069 203.65 Not applicable
Extent of director’s interest: Direct beneficial
Clearance to deal obtained: Yes
*Additional Information: 577 126 existing options with a grant date of 7 June 2013
and strike price of 386 cents per option and 537 634 existing
options with a grant date of 29 July 2014 and strike price of
372 cents were converted into retention share options which
comprise 297 575 of the 1 161 888 retention share options
granted.
Name of director: Mr Evangelos Tsatsarolakis
Company: Taste Holdings Limited
Date of transaction: 3 June 2016
Nature of the transaction: Off market granting and acceptance of performance share
options and retention share options in terms of the Taste
Holdings Share Trust
Class of securities: Options in respect of ordinary shares
Performance share options Retention share options
Number of options granted: 683 675 707 795*
Option strike price: R2.55 R0.00
Total value of transaction: R1 743 371.25 Not applicable
Extent of director’s interest: Direct beneficial
Clearance to deal obtained: Yes
*Additional Information: 356 250 existing options with a grant date of 7 June 2013
and strike price of 386 cents per option and 470 430 existing
options with a grant date of 29 July 2014 and strike price of
372 cents were converted into retention share options which
comprise 221 048 of the 707 795 retention share options
granted.
Name of director: Mr Dean Divaris
Company: Arthur Kaplan Proprietary Limited, a major subsidiary of
Taste
Date of transaction: 3 June 2016
Nature of the transaction: Off market granting and acceptance of performance share
options and retention share options in terms of the Taste
Holdings Share Trust
Class of securities: Options in respect of ordinary shares
Performance share options Retention share options
Number of options granted: 2 022 060 862 745*
Option strike price: R2.55 R0.00
Total value of transaction: R5 156 253.00 Not applicable
Extent of director’s interest: Direct beneficial
Clearance to deal obtained: Yes
Name of director: Mr Arvid Smedsrud
Company: Buon Gusto Cuisine Proprietary Limited, a major subsidiary
of Taste
Date of transaction: 3 June 2016
Nature of the transaction: Off market granting and acceptance of retention share
options in terms of the Taste Holdings Share Trust
Class of securities: Options in respect of ordinary shares
Retention share options
Number of options granted: 55 259
Option strike price: R0.00
Total value of transaction: Not applicable
Extent of director’s interest: Direct beneficial
Clearance to deal obtained: Yes
*Additional Information: 204 940 existing options with a grant date of 29 July 2014
and strike price of 372 cents were converted into retention
share options which comprise 55 295 of the 55 295 retention
share options granted.
The information below relates to all the options:
Period of exercise: The options are exercisable in one third tranches from the
third anniversary of the grant date onwards over a 5 year
period. If the options have not been exercised in their entirety
within 6 years from the grant date, the unexercised portion
thereof shall automatically lapse.
Strike dates: 1 June 2019, 1 June 2020, 1 June 2021
Performance share options: The number of performance share options that ultimately vest
will range between 0% and 180% of the granted number of
performance share options based on the director’s
performance against financial and personal targets measured
over a three year rolling period to the vesting dates.
Johannesburg
7 June 2016
Sponsor
Merchantec Capital
Date: 07/06/2016 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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