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Lewis Group Limited - Director Share awards for 2006

Release Date: 04/07/2006 08:00
Code(s): LEW
Wrap Text

Lewis Group Limited - Director Share awards for 2006 Lewis Group Ltd Reg. No. 2004/009817/06 JSE Share Code: LEW ISIN: ZAE000058236 (Lewis or the "Company") Director share awards for 2006 In compliance with the requirements 3.63 to 3.74 of the JSE Listings Requirements, the following should be noted: 1. The Lewis Executive Performance Scheme Share awards have been made to members of senior management of Lewis Group Limited and its trading subsidiary, Lewis Stores (Pty) Ltd. The shares are provided by the existing employee share trust. In terms of the scheme, executives have been offered the right to acquire shares of the company for no consideration subject to the achievement of performance targets. The performance share plan will be a three year scheme. The performance targets are set by the Board in conjunction with the Remuneration and Nomination Committee. These targets will be set at the beginning of each of the three years. No performance shares will accrue if the group achieves less than 90% of target. Any achievement between 90% and 100% of target will result in a proportionate accrual of shares weighted towards 100% of target. The following executives have been granted awards on 30 June 2006 under the Lewis Executive Performance Scheme: Maximum Number Executive Designation of Shares Value (for no consideration)
A. J. Smart Executive Director - Lewis Group Ltd 44 573 R 2 000 000 L. A. Davies Director - Lewis 22 287 R 1 000 000 Stores (Pty) Ltd
J. Enslin Director - Lewis 18 498 R 830 000 Stores (Pty) Ltd C.D. Heiberg Director - Lewis 22 287 R 1 000 000 Stores (Pty) Ltd
C.P. Irwin Director - Lewis 17 606 R 790 000 Stores (Pty) Ltd I.D.McAlpin Director - Lewis 29 641 R 1 330 000 Stores (Pty) Ltd
K.C. Van Director - Lewis 18 810 R 844 000 Aardt Stores (Pty) Ltd 2. The Lewis Co-Investment Scheme Senior executives are eligible for an annual bonus based on achievement of performance targets. These eligible executives can elect to invest all or part of their net bonus in Lewis Group shares. These shares are deferred for a specified period (three years) and matching shares equal to the before tax bonus are awarded for no consideration at the end of the period. The shares are provided by the existing employee share trust. The matching share award will lapse, should the executive terminate his or her employment before the completion of the three period other than in the event of death, ill-health, retirement or retrenchment. The following executives elected on 30 June 2006 to invest their net bonus in the company"s shares ("invested shares") and, consequently, matching share options were awarded to them under the Lewis Co-Investment Plan: Executive Designation Invested Matching Total shares share option Value A.J. Smart Executive 21 806 36 344 R 2 703 975 Director - Lewis Group Ltd
L.A. Davies Director - Lewis 7 226 12 044 R 896 055 Stores (Pty) Ltd Director - Lewis J.Enslin Stores (Pty) Ltd 8 129 13 549 R 1 008 027 Director - Lewis Stores (Pty) Ltd C.D. Heiberg Director - Lewis 10 323 17 205 R 1 280 052 Stores (Pty) Ltd
Director - Lewis I.D.McAlpin Stores (Pty) Ltd 13 204 22 007 R 1 637 312 K.C. Van 6 108 10 180 R 757 392 Aardt The requisite clearances have been obtained. Cape Town 4 July 2006 Date: 04/07/2006 08:00:04 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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