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Lewis Group Limited - Director"s share award

Release Date: 04/12/2006 17:05
Code(s): LEW
Wrap Text

Lewis Group Limited - Director"s share award Lewis Group Ltd Reg. No. 2004/009817/06 JSE Share Code: LEW ISIN: ZAE000058236 (Lewis or the "Company") DIRECTOR"S SHARE AWARD In compliance with the requirements 3.63 to 3.74 of the JSE Listings Requirements, the following should be noted: The Lewis Executive Performance Scheme Share awards are 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 executive has been granted an award on 1 December 2006 under this scheme: Maximum Number Executive Designation of Shares (for Value no
consideration) B.van Aswegen Director - 9 900 R 585 288 Lewis Stores Pty) Ltd The requisite clearance has been obtained. Cape Town 4 December 2006 Date: 04/12/2006 05:05:10 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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