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Murray & Roberts Holdings Limited - Dealing in securities by directors

Release Date: 13/03/2003 09:28
Code(s): MUR
Wrap Text

Murray & Roberts Holdings Limited - Dealing in securities by directors Murray & Roberts Holdings Limited (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 Share Code: MUR ISIN Code: ZAE000008983 Dealing in securities by directors of listed companies In compliance with paragraph 3.72 - 3.75 of the Listings Requirements of the JSE Securities Exchange South Africa, the following information is disclosed wherein the directors concerned acquired Murray & Roberts" securities: Options to purchase Murray & Roberts Holdings Ltd shares at a price of R11.00 per share were granted to the following executive directors on 6 March 2003 ("the option date") under the terms and conditions of the Murray & Roberts Holdings Ltd Employee Share Incentive Scheme. The grants of options were accepted by the directors on 12 March 2003. The details of these grants of options are as follows: Options under Standard Options under Hurdle Conditions Conditions B C Bruce 80 000 120 000 R W Rees 65 000 100 000 K E Smith 80 000 120 000 Options granted under the standard conditions will vest at the rate of 25% on each of the second, third, fourth and fifth anniversaries of the option date. Options granted under the hurdle conditions require that the Company"s share price must increase by 25% per annum compounded from the grant date in order for the options to vest at the rate of 25% on the second, third, fourth and fifth anniversaries of the option date. These grants of options to executive directors were made within an allocation to executives totalling 1 461 500 shares or 0,44% of the Company"s issued share capital. 13 March 2003 Sponsor Merrill Lynch

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