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BILETS- Erratum Notice to the 2019 Intergrated Annual Report
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(JSE Code: “BILETS”)
(“Letshego Holdings” or “the Company” or “the issuer”)
This announcement is being released on the Johannesburg Stock Exchange for
information purposes only in respect of Letshego Holdings Limited’s Note
Programme.
Reference is made to the Company’s announcement (“the Announcement”)
concerning the publication of its 2019 Group Integrated Annual Report on
the Johannesburg Stock Exchange (“JSE”) SENS on 2 June 2020.
ERRATUM NOTICE TO THE 2019 INTEGRATED ANNUAL REPORT
Executive Directors’ Remuneration as at 31 December 2018 & 2019: (Refer
page 68 - Remuneration Policy)
Published:
Executive Directors remuneration as at 31 December 2019
Executive Directors incentive bonuses are evaluated and recommended by the GRemCo for the
approval of the Board. All amounts disclosed are in Botswana Pula.
Executive For Management Performance Net Total
Directors Services Bonus Settlement
PJS Crouse* 2 075 758 - 295 459 2 371 217
D Ndebele** 4 156 982 - - 4 156 982
C Patterson*** 2 365 720 562 500 818 181 3 746 401
Executive Directors Remuneration as at 31 December 2018
Executive For Management Performance Net Total
Directors Services Bonus Settlement
ACM Low 2 703 176 - 3 696 749 6 399 925
C Patterson 1 075 757 - - 1 075 757
PJS Crouse 2 250 000 - - 2 250 000
* PJS Crouse (Group CEO) joined as Group CEO on 24 September 2018 and resigned on 27 March
2019. He was paid three months’ basic salary in lieu of his employment contract notice
period.
** D Ndebele was appointed as Interim Group CEO on 27 March 2019. Previously, he re-joined
Letshego as Group Company Secretary on 1 January 2019.
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*** C Patterson (Group CFO) resigned on 2 March 2019 and served his contractual three
months notice period to end May 2019. From 1 June to 31 December 2019 he entered into a
short term contract as the outgoing CFO. For disclosure purposes his full salary and
benefits for the year are set out above. The ‘net settlement’ represents a three month
restraint of trade payment relating to the period 1 June 2019 to 31 August 2019.
2019: In terms of the Long-Term Incentive Scheme no ordinary shares vested to Executive
Directors, that related to the 31 December 2019 financial year-end.
2018: In terms of the Long-Term Incentive Scheme, no ordinary shares vested to ACM Low and
C Patterson, that related to the 31 December 2018 financial year-end
Correct Disclosure:
Executive Directors Remuneration as at 31 December 2019
Executive Directors incentive bonuses are evaluated and recommended by the GRemCo for the
approval of the Board. All amounts disclosed are in Botswana Pula.
Executive For Management Performance Net Total
Directors Services Bonus Settlement
PJS Crouse* 983 005 - 1 339 070 2 322 075
D Ndebele** 3 626 795 - - 3 626 795
C Patterson*** 385 302 - 1 380 681 1 765 983
Executive Directors Remuneration as at 31 December 2018
Executive For Management Performance Net Total
Directors Services Bonus Settlement
ACM Low 2 703 176 - 3 696 749 6 399 925
PJS Crouse 1 075 757 - - 1 075 757
C Patterson 2 250 000 - - 2 250 000
* PJS Crouse (Group CEO) resigned on 27 March 2019. The net settlement represents
payments in accordance with his contract of employment.
** D Ndebele was appointed as Acting Group CEO on 27 March 2019.
*** C Patterson (Group CFO) resigned on 2 March 2019 and served his contractual three
months notice period to 4 June 2019. The net settlement represents payments in accordance
with his contract of employment plus his bonus assessed based upon his 2018 performance.
2019: In terms of the Long-Term Incentive Scheme no ordinary shares vested to Executive
Directors, that related to the 31 December 2019 financial year-end.
2018: In terms of the Long-Term Incentive Scheme, no ordinary shares vested to ACM Low and
C Patterson, that related to the 31 December 2018 financial year-end
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4. All other information contained in the Integrated Annual Report 2019,
remains unchanged. We apologise for the error and any inconvenience
caused.
By order of the Group Board
The financial statements can be accessed below:
https://www.letshego.com/latest-financial-results
19 June 2020
For and on behalf of the Board of Directors:
E Banda A F Okai
Group Chairman Group Chief Executive
GABORONE, Monday, 19 June 2020
Debt sponsor in South Africa
Kea Sape: 0117215594 or kea.sape@standardbank.co.za
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
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Date: 19-06-2020 05:25:00
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