QUANTUM FOODS HOLDINGS LIMITED - Acceptance of allocated phantom share rights in terms of the Quantum Foods Equity Settled Phantom Share Plan

Acceptance of allocated phantom share rights in terms of the Quantum Foods Equity Settled Phantom Share Plan

QUANTUM FOODS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2013/208598/06)
Share code: QFH
ISIN: ZAE000193686
(“Quantum Foods” or the “Company”)

ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE QUANTUM FOODS HOLDINGS
LIMITED EQUITY SETTLED PHANTOM SHARE PLAN

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“JSE Listings
Requirements”), shareholders of Quantum Foods are hereby advised of the following dealings in securities by
executive directors of the Company:

Nature of transaction:                                   Acceptance of Phantom Share Rights (“PSRs”) in terms
                                                         of the Quantum Foods Holdings Limited Equity Settled
                                                         Phantom Share Plan
Class of securities:                                     PSRs linked to Quantum Foods ordinary shares
                                                         (“Ordinary Shares”)
Date of PSRs grant:                                      15 February 2021
Strike price of PSRs:                                    R6.0850
Vesting dates of PSRs:                                   15 February 2024, 15 February 2025 and
                                                         15 February 2026
Period of exercise:                                      Participants have until midnight on the twelfth month
                                                         anniversary of the relevant vesting date during which to
                                                         exercise vested PSRs
Nature and extent of interest:                           Direct beneficial
On-market or off-market:                                 Off-market
Clearance given in terms of paragraph 3.66 of the JSE    Yes
Listings Requirements:

Transaction 1:

Name of executive director:                              Hendrik Albertus Lourens
Date of acceptance of the PSRs:                          4 March 2021
Number of PSRs allocated:                                1 168 730
Total value of transaction:                              Refer to note 3 below

Transaction 2:

Name of executive director:                              Andre Hugo Muller
Date of acceptance of the PSRs:                          4 March 2021
Number of PSRs allocated:                                307 084
Total value of transaction:                              Refer to note 3 below

Notes:
   1. 50% of the granted PSRs are time-based and will vest in 3 tranches of 33.33% each on the vesting dates
      specified above.
   2. 50% of the granted PSRs are performance-based and will vest in 3 tranches of 33.33% each on the vesting
      dates specified above, subject to a formula based on, inter alia, the compounded annual growth rate (“CAGR”)
      of the Company’s adjusted headline earnings per share (“HEPS”) from baseline HEPS. The CAGR is                                                                                                                  
      measured from the financial year prior to the date of grant of the PSRs to the financial year prior to the date of
      vesting.
   3. The total number of Ordinary Shares that will be issued to the executive directors pursuant to the exercise of
      the PSRs will be determined in accordance with, inter alia, a formula based on the growth in the Ordinary
      Share price from the date of grant of the PSRs to the date of exercise. Accordingly, the total number of
      Ordinary Shares that will be settled and total value thereof, will only be determined at a future date.
   4. A further announcement will be published on SENS following the exercise of the PSRs by each executive
      director, disclosing the exact number of Ordinary Shares settled and the total value thereof, in accordance
      with the JSE Listings Requirements.


Wellington
5 March 2021

Corporate advisor and Sponsor
One Capital

Attorneys
Webber Wentzel



Date: 05-03-2021 01:30:00
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