MASSMART HOLDINGS LIMITED - Notification of acceptance of share options by Chief Operating Officer and Financial Director of Massmart

Notification of acceptance of share options by Chief Operating Officer and Financial Director of Massmart

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share Code: MSM
ISIN: ZAE 0000152617
(“Massmart” or “the Company”)


Notification of acceptance of share options by Chief Operating
Officer and Financial Director of Massmart

In compliance with rules 3.63 to 3.66 of the JSE Limited
(“JSE”) Listings Requirements (“Listings Requirements”), we
hereby advise that share options in Massmart securities
(“share options”) have been offered and accepted by Messrs Guy
Hayward and Ilan Zwarenstein (collectively “the directors”)
in terms of the rules of the Massmart Holdings Limited
Employee Share Trust.

The share options were offered and accepted as follows:-

Name:                    Guy Hayward
Position held:           Chief Operating Officer
Company:                 Massmart Holdings Limited
Number of securities:    149,542
Total value:             R 23,870,088.45
Acceptance date:         27 July 2012
Class of security:       Option on ordinary shares
Nature of interest:      Direct/Beneficial

Name:                    Ilan Zwarenstein
Position held:           Financial Director
Company:                 Massmart Holdings Limited
Number of securities:    91,676
Total value:             R 14,633,442.30
Acceptance date:         27 July 2012
Class of security:       Option on ordinary shares
Nature of interest:      Direct/Beneficial

Following the promotions of the directors announced on the
Securities Exchange News Service (“SENS”) on 8 May 2012, the
share options were offered at a strike price of R159.6213
being the five-day volume-weighted average price as at 15 May
2012. The share options were granted upon the recommendation
of the Remuneration Committee. Due to unforeseen delays, the
Trustees of Massmart Holdings Limited Employee Share Trust
however, only approved this recommendation on 10 July 2012 and
the offers were not available for acceptance by the directors
before   the  Trustees’   approval.   The   acceptance  period
applicable to the offer of these share options expires on 13
August 2012.

The Company is currently in a closed period which commenced on
1 June 2012 as its financial year-end is 24 June 2012 and will
lapse on the publication of the financial year-end results
which is expected to be 22 August 2012 (“closed period”).

The trades for these share options were done off-market. The
required clearance was obtained subject to the granting of a
waiver by the JSE in terms of paragraph 3.70 of the Listings
Requirements. The JSE waived its requirement not to deal in
the Company’s securities during the closed period on 25 July
2012 on the basis that the directors had no control over the
timing of the expiry date mentioned above.


Johannesburg
27 July 2012

Sponsor: Deutsche Securities (SA) Proprietary Limited

Date: 27/07/2012 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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