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Acceptance Of Allocated Phantom Share Rights In Terms Of The Pioneer Foods Equity Settled Phantom Share Plan
PIONEER FOOD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1996/017676/06)
Share code: PFG
ISIN: ZAE000118279
(“Pioneer Foods” or “the Company”)
ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE PIONEER FOODS EQUITY SETTLED PHANTOM SHARE PLAN
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information
regarding the acceptance of the allocated phantom share rights is disclosed:
1.
NAME OF DIRECTOR TA Carstens
COMPANY OF WHICH A DIRECTOR Pioneer Food Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share Rights
CLASS OF SECURITIES Ordinary Shares
NATURE OF TRANSACTION Acceptance of Phantom Share Rights in
terms of the Pioneer Foods Equity Settled
Phantom Share Plan
(Off-market transaction)
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2019
DATE OF PHANTOM SHARE RIGHT 25 February 2019
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 8011 cents
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 384 808
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 22 February 2022; 22 February 2023 and
RIGHTS 22 February 2024
PERIOD OF EXERCISE Participants have until midnight on the 6
month anniversary of the relevant vesting
date during which the Phantom Share
Rights can be exercised
NATURE AND EXTENT OF INTEREST IN Direct, Beneficial
THE TRANSACTION
2.
NAME OF DIRECTOR F Lombard
COMPANY OF WHICH A DIRECTOR Pioneer Food Group Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share Rights
CLASS OF SECURITIES Ordinary Shares
NATURE OF TRANSACTION Acceptance of Phantom Share Rights in
terms of the Pioneer Foods Equity Settled
Phantom Share Plan
(Off-market transaction)
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2019
DATE OF PHANTOM SHARE RIGHT 25 February 2019
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 8011 cents
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 273 871
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 22 February 2022; 22 February 2023 and
RIGHTS 22 February 2024
PERIOD OF EXERCISE Participants have until midnight on the 6
month anniversary of the relevant vesting
date during which the Phantom Share
Rights can be exercised
NATURE AND EXTENT OF INTEREST IN Direct, Beneficial
THE TRANSACTION
3.
NAME OF COMPANY SECRETARY JA Jacobs
COMPANY OF WHICH I AM COMPANY Pioneer Food Group Limited
SECRETARY
TYPE OF SECURITIES Equity Settled Phantom Share Rights
CLASS OF SECURITIES Ordinary Shares
NATURE OF TRANSACTION Acceptance of Phantom Share Rights in
terms of the Pioneer Foods Equity Settled
Phantom Share Plan
(Off-market transaction)
DATE OF PHANTOM SHARE RIGHT GRANT 22 February 2019
DATE OF PHANTOM SHARE RIGHT 22 February 2019
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 8011 cents
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 78 511
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 22 February 2022; 22 February 2023 and
RIGHTS 22 February 2024
PERIOD OF EXERCISE Participants have until midnight on the 6
month anniversary of the relevant vesting
date during which the Phantom Share
Rights can be exercised
NATURE AND EXTENT OF INTEREST IN Direct, Beneficial
THE TRANSACTION
Notes:
a. Clearance to deal in these Phantom Share Rights was obtained in accordance with
paragraph 3.66 of the JSE Listings Requirements.
b. 50% of the Phantom Share Rights will vest in 3 tranches of 33.33% each on the vesting
dates specified above.
c. The remaining 50% of the Phantom Share Rights will vest in 3 tranches of 33.33% on
the vesting dates specified above, subject to a formula based on the compound growth
of the Company´s headline earnings per share from the financial year prior to the date
of grant of the Phantom Share Rights to the financial year prior to the date of exercise.
d. The total number of Pioneer Foods shares that will be issued to the directors pursuant
to the exercise of the Phantom Share Rights will be determined according to a formula
based on the growth in the share price of Pioneer Foods from the date of grant of the
Phantom Share Rights to the date of exercise. Accordingly, the total number of shares
and monetary value thereof will only be determined at a future date.
e. An additional SENS announcement will be made upon the exercise of the Phantom
Share Rights by each director disclosing the exact number of shares issued and the
monetary value thereof in accordance with the JSE Listings Requirements.
Tyger Valley
26 February 2019
Sponsor
PSG Capital
Date: 26/02/2019 01:30:00 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.
