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LEW - Lewis Group Limited - Directors` Dealing in Securities

Release Date: 22/06/2011 17:15
Code(s): LEW
Wrap Text

LEW - Lewis Group Limited - Directors` Dealing in Securities Lewis Group Ltd Reg. No. 2004/009817/06 JSE Share Code : LEW ISIN : ZAE 000058236 (Lewis or the "Company") Directors Dealings in Securities In compliance with the requirements 3.63 to 3.74 of the JSE Listings Requirements, the following should be noted: 1. 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 year period other than in the event of death, ill-health, retirement or retrenchment. The following executives elected on 20 June 2011 to invest their net bonus in the company`s shares ("invested shares") and, consequently, matching share awards were awarded to them under the Lewis Co-Investment Plan : Invested Matching Total
Executive Designation Shares Share Value Award J. Enslin Executive Director, 17 039 28 399 R3 612 775 Lewis Stores Group Limited
L.A. Davies Executive Director, 13 961 23 269 R2 960 157 Lewis Group Ltd B. van Director, 7 214 12 024 R1 529 613 Aswegen Lewis Stores (Pty) Ltd N. Jansen Director, 7 327 12 212 R1 553 546 Lewis Stores (Pty) Ltd D. Loudon Director, 7 048 11 747 R1 494 390 Lewis Stores (Pty) Ltd
The invested shares were purchased at an average price of R79.51 and the matching share awards will be received by the scheme participants for no consideration. 2. 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 is a three year scheme and the share awards will lapse, should the executive terminate his or her employment before the completion of the three year period. The performance targets are set by the Board in conjunction with the Remuneration and Nomination Committee. These targets are 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 20 June 2011 under the Lewis Executive Performance Scheme: Maximum No. of Executive Designation Shares (for no Value consideration) J. Enslin Executive Director, Lewis Group 31 782 R2 524 126 Limited L.A. Davies Executive Director, Lewis Group 25 468 R2 022 669 Ltd C Irwin Director, Lewis Stores (Pty) Ltd 16 137 R1 281 601 B. van Aswegen Director, Lewis Stores (Pty) Ltd 16 464 R1 307 571 N. Jansen Director, Lewis Stores (Pty) Ltd 16 689 R1 325 440 D. Loudon Director, Lewis Stores (Pty) Ltd 16 326 R1 296 611 The above values are deemed values based on a market price of R79.42 calculated in terms of the rules of the scheme. All the directors interest in the above transactions are direct beneficial. The transactions took place off-market and the requisite clearances have been obtained. Cape Town 22 June 2011 Sponsor: UBS South Africa (Pty) Ltd Date: 22/06/2011 17:15:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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