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PIONEER FOOD GROUP LIMITED - Acceptance Of Allocated Phantom Share Rights In Terms Of The Pioneer Foods Equity Settled Phantom Share Plan

Release Date: 08/02/2013 15:26
Code(s): PFG     PDF:  
Wrap Text
Acceptance Of Allocated Phantom Share Rights In Terms Of The Pioneer Foods Equity Settled Phantom Share Plan

Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
(“Pioneer Foods” or “the Company”)

ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS IN TERMS OF THE PIONEER FOODS
EQUITY SETTLED PHANTOM SHARE PLAN

In compliance with rules 3.63 to 3.74 of the JSE Listings Requirements,
the following information is disclosed:

1.
  NAME OF DIRECTOR                   WA Hanekom
  COMPANY OF WHICH I AM A DIRECTOR   Pioneer Food Group Limited
  STATUS:EXECUTIVE/NON-EXECUTIVE     Executive
  TYPE OF SECURITIES                 Equity Settled Phantom Share
                                     Rights
 CLASS OF SECURITIES                 Ordinary Shares
 DATE OF PHANTOM SHARE RIGHT GRANT   6 February 2013
 DATE OF PHANTOM SHARE RIGHT         8 February 2013
 ACCEPTANCE
 PHANTOM SHARE RIGHT STRIKE PRICE    5 681
 (CENTS)
 NUMBER OF PHANTOM SHARE RIGHTS      45 492
 ALLOCATED
 STRIKE DATES OF PHANTOM SHARE       6 February 2014; 6 February
 RIGHTS                              2015; 6 February 2016; 6
                                     February 2017; 6 February 2018
 PERIOD OF EXERCISE                  Participants have until
                                     midnight on 6 February 2022
                                     during which the Phantom Share
                                     Rights can be exercised
 NATURE OF TRANSACTION               Acceptance of Phantom Share
                                     Rights in terms of the Pioneer
                                     Foods Equity Settled Phantom
                                     Share Plan
                                     (Off-market transaction)
 NATURE AND EXTENT OF INTEREST IN
 THE TRANSACTION                     Direct, Beneficial

2.
  NAME OF DIRECTOR                   LR Cronje
  COMPANY OF WHICH I AM A DIRECTOR   Pioneer Food Group Limited
  STATUS:EXECUTIVE/NON-EXECUTIVE     Executive
  TYPE OF SECURITIES                 Equity Settled Phantom Share
                                     Rights
 CLASS OF SECURITIES                 Ordinary Shares
 DATE OF PHANTOM SHARE RIGHT GRANT   6 February 2013
 DATE OF PHANTOM SHARE RIGHT         8 February 2013
 ACCEPTANCE
 PHANTOM SHARE RIGHT STRIKE PRICE    5 681
 (CENTS)
 NUMBER OF PHANTOM SHARE RIGHTS      20 450
 ALLOCATED
 STRIKE DATES OF PHANTOM SHARE       6 February 2014; 6 February
 RIGHTS                              2015; 6 February 2016; 6
                                     February 2017; 6 February 2018
 PERIOD OF EXERCISE                  Participants have until
                                     midnight on 6 February 2022
                                     during which the Phantom Share
                                     Rights can be exercised
 NATURE OF TRANSACTION               Acceptance of Phantom Share
                                     Rights in terms of the Pioneer
                                     Foods Equity Settled Phantom
                                     Share Plan
                                     (Off-market transaction)
 NATURE AND EXTENT OF INTEREST IN
 THE TRANSACTION                     Direct, Beneficial

3.
  NAME OF DIRECTOR                   TA Carstens
  COMPANY OF WHICH I AM A DIRECTOR   Pioneer Food Group Limited
  STATUS:EXECUTIVE/NON-EXECUTIVE     Executive
  TYPE OF SECURITIES                 Equity Settled Phantom Share
                                     Rights
 CLASS OF SECURITIES                 Ordinary Shares
 DATE OF PHANTOM SHARE RIGHT GRANT   6 February 2013
 DATE OF PHANTOM SHARE RIGHT         8 February 2013
 ACCEPTANCE
 PHANTOM SHARE RIGHT STRIKE PRICE    5 681
 (CENTS)
 NUMBER OF PHANTOM SHARE RIGHTS      23 503
 ALLOCATED
 STRIKE DATES OF PHANTOM SHARE       6 February 2014; 6 February
 RIGHTS                              2015; 6 February 2016; 6
                                     February 2017; 6 February 2018
 PERIOD OF EXERCISE                  Participants have until
                                     midnight on 6 February 2022
                                     during which the Phantom Share
                                     Rights can be exercised
 NATURE OF TRANSACTION               Acceptance of Phantom Share
                                     Rights in terms of the Pioneer
                                     Foods Equity Settled Phantom
                                     Share Plan
                                     (Off-market transaction)
 NATURE AND EXTENT OF INTEREST IN
 THE TRANSACTION                     Direct, Beneficial

4.
  NAME OF DIRECTOR                   JA Jacobs
  COMPANY OF WHICH I AM A DIRECTOR   Pioneer Food Group Limited
  STATUS:EXECUTIVE/NON-EXECUTIVE     Executive – Company Secretary
  TYPE OF SECURITIES                 Equity Settled Phantom Share
                                     Rights
 CLASS OF SECURITIES                 Ordinary Shares
 DATE OF PHANTOM SHARE RIGHT GRANT   6 February 2013
 DATE OF PHANTOM SHARE RIGHT         8 February 2013
 ACCEPTANCE
 PHANTOM SHARE RIGHT STRIKE PRICE    5 681
 (CENTS)
 NUMBER OF PHANTOM SHARE RIGHTS      4 769 (1)
 ALLOCATED                           1 590 (2)
 STRIKE DATES OF PHANTOM SHARE       6 February 2014; 6 February
 RIGHTS                              2015; 6 February 2016; 6
                                    February 2017; 6 February 2018
                                    (1)
                                    6 February 2018 (2)
 PERIOD OF EXERCISE                 Participants have until
                                    midnight on 6 February 2022
                                    during which the Phantom Share
                                    Rights can be exercised
 NATURE OF TRANSACTION              Acceptance of Phantom Share
                                    Rights in terms of the Pioneer
                                    Foods Equity Settled Phantom
                                    Share Plan
                                    (Off-market transaction)
 NATURE AND EXTENT OF INTEREST IN   Direct, Beneficial
 THE TRANSACTION


Notes:
  i)   Clearance to deal in these shares was obtained in accordance with
       Rule 3.66 of the JSE Listings Requirements;
  ii) The Phantom Share Rights will vest in 5 tranches of 20% each on
       the strike dates specified above, with the exception of 1 590
       Phantom Share Rights granted to JA Jacobs in terms of the Black
       Management Share Incentive Scheme, whereby the Phantom Share
       Rights only vest on 6 February 2018.
  iii) The total number of shares that will be issued to the directors
       pursuant to the exercise of the Phantom Share Rights will be
       determined according to a formula based on the growth in the share
       price of Pioneer Foods from the date of grant of the Phantom Share
       Rights, to the date of exercise. Therefore the total number of
       shares and total monetary value thereof will only be determined on
       a future date.
  iv) An additional SENS announcement will be made upon exercise of the
       Phantom Share Rights disclosing the exact number of shares issued
       and the total monetary value thereof in accordance with the JSE
       Listings Requirements.

8 February 2013
Paarl

Sponsor
PSG Capital

Date: 08/02/2013 03:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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