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Acceptance of allocated phantom sharerights in terms of The Pioneer Food 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 code: 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 rules 3.63 to 3.74 of the JSE Listings Requirements,
the following information is disclosed:
1.
NAME OF DIRECTOR WA Hanekom
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 9 February 2012
DATE OF PHANTOM SHARE RIGHT 21 February 2012
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 6 185
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 61 492
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2013; 9 February
RIGHTS 2014; 9 February 2015; 9
February 2016; 9 February 2017
PERIOD OF EXERCISE Participants have until
midnight on 9 February 2022
during which the Phantom Share
Rights can be exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN
THE TRANSACTION Direct, Beneficial
2.
NAME OF DIRECTOR LR Cronje
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 9 February 2012
DATE OF PHANTOM SHARE RIGHT 10 February 2012
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 6 185
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 30 541
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2013; 9 February
RIGHTS 2014; 9 February 2015; 9
February 2016; 9 February 2017
PERIOD OF EXERCISE Participants have until
midnight on 9 February 2022
during which the Phantom Share
Rights can be exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN
THE TRANSACTION Direct, Beneficial
3.
NAME OF DIRECTOR TA Carstens
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 9 February 2012
DATE OF PHANTOM SHARE RIGHT 13 February 2012
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE PRICE 6 185
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 41 256
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2013; 9 February
RIGHTS 2014; 9 February 2015; 9
February 2016; 9 February 2017
PERIOD OF EXERCISE Participants have until
midnight on 9 February 2022
during which the Phantom Share
Rights can be exercised
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN
THE TRANSACTION Direct, Beneficial
4.
NAME OF DIRECTOR JA Jacobs
COMPANY OF WHICH I AM A DIRECTOR Pioneer Food Group Limited
STATUS:EXECUTIVE/NON-EXECUTIVE Executive – Company Secretary
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
CLASS OF SECURITIES Ordinary Shares
DATE OF PHANTOM SHARE RIGHT GRANT 9 February 2012 (1) & (2)
DATE OF PHANTOM SHARE RIGHT 10 February 2012 (1)
ACCEPTANCE 20 February 2012 (2)
PHANTOM SHARE RIGHT STRIKE PRICE 6 185 (1) & (2)
(CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 55 358 (1)
ALLOCATED 20 857 (2)
STRIKE DATES OF PHANTOM SHARE 9 February 2013; 9 February
RIGHTS 2014; 9 February 2015; 9
February 2016; 9 February 2017
(1)
9 February 2017 (2)
PERIOD OF EXERCISE Participants have until
midnight on 9 February 2022
during which the Phantom Share
Rights can be exercised (1) &
(2)
NATURE OF TRANSACTION Acceptance of Phantom Share
Rights in terms of the Pioneer
Foods Equity Settled Phantom
Share Plan (1) & (2)
(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN Direct, Beneficial (1) & (2)
THE TRANSACTION
Notes:
i) Clearance to deal in these shares was obtained in accordance with
Rule 3.66 of the JSE Listings Requirements;
ii) The Phantom Share Rights will vest in 5 tranches of 20% each on
the strike dates specified above, with the exception of 20 857
Phantom Share Rights granted to JA Jacobs in terms of the Black
Management Share Incentive Scheme, whereby the Phantom Share
Rights only vest on 9 February 2017.
iii) The total number of 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. Therefore the total number of
shares and total monetary value thereof will only be determined on
a future date.
iv) An additional SENS announcement will be made upon exercise of the
Phantom Share Rights disclosing the exact number of shares issued
and the total monetary value thereof in accordance with the JSE
Listings Requirements.
v) The requirement for the disclosure of the acceptance of the
Phantom Share Rights to directors of the Company in terms of the
JSE Listings Requirements was only recently noted and accordingly
the relevant details of the directors’ acceptance of Phantom Share
Rights are disclosed in this SENS announcement above.
24 August 2012
Paarl
Sponsor
PSG Capital
Date: 24/08/2012 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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