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TASTE HOLDINGS LIMITED - Exercise Of Options By Executive Directors In Terms Of The Taste Holdings Trust

Release Date: 14/06/2013 16:56
Code(s): TAS     PDF:  
Wrap Text
Exercise Of Options By Executive Directors In Terms Of The Taste Holdings Trust

TASTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/002239/06)
JSE code: TAS
ISIN: ZAE000081162)
("the company")

EXERCISE OF OPTIONS BY EXECUTIVE DIRECTORS IN TERMS OF THE TASTE HOLDINGS TRUST

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

1.
     NAME OF DIRECTOR                     DJ Crosson
     COMPANY OF WHICH I AM A DIRECTOR     Taste Holdings
     STATUS:EXECUTIVE/NON-EXECUTIVE       Executive
     TYPE OF SECURITIES                   Shares
     CLASS OF SECURITIES                  Ordinary
     DATE OF TRANSACTION                  12 June 2013
     OPTION STRIKE PRICE                  386 cents
     NUMBER OF OPTIONS EXERCISED          577 126
     TOTAL RAND VALUE OF OPTIONS          R2 227 706.40
     STRIKE DATE OF OPTIONS               12 June 2013
     PERIOD OF EXERCISE                   The option is exercisable in 25% tranches
                                          from the second anniversary of the option
                                          date onwards over a 6 year period.
                                          If the option has not been exercised in
                                          its entirety within 6 years of the option
                                          date, the unexercised portion thereof
                                          shall automatically lapse.
 NATURE OF TRANSACTION                    Acquisition of shares in Taste
                                          Holdings through the exercise of
                                          options(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN
THE TRANSACTION                          Direct, Beneficial
CLEARANCE OBTAINED                       Yes

2.
     NAME OF DIRECTOR                     E Tsatsarolakis
     COMPANY OF WHICH I AM A DIRECTOR     Taste Holdings
     STATUS:EXECUTIVE/NON-EXECUTIVE       Executive
     TYPE OF SECURITIES                   Shares
     CLASS OF SECURITIES                  Ordinary
     DATE OF TRANSACTION                  12 June 2013
     OPTION STRIKE PRICE                  386 cents
     NUMBER OF OPTIONS EXERCISED          475 000
     TOTAL RAND VALUE OF OPTIONS          R1 833 500
     STRIKE DATE OF OPTIONS               12 June 2013
     PERIOD OF EXERCISE                   The option is exercisable in 25% tranches
                                          from the second anniversary of the option
                                          date onwards over a 6 year period.
                                          If the option has not been exercised in
                                          its entirety within 6 years of the option
                                          date, the unexercised portion thereof
                                          shall automatically lapse.
NATURE OF TRANSACTION                     Acquisition of shares in Taste
                                          Holdings through the exercise of
                                          options(Off-market transaction)
NATURE AND EXTENT OF INTEREST IN
THE TRANSACTION                          Direct, Beneficial
CLEARANCE OBTAINED                       Yes

The strike price as indicated above was calculated as per the provisions of the
Taste Holdings Trust deed and represents the 30 day volume weighted average
traded price of Taste shares on the grant date, being 7 June 2013.

Sandton
14 June 2013
Sponsor
Vunani Corporate Finance

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