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PIONEER FOOD GROUP LIMITED - Acceptance Of Allocated Phantom Share Rights

Release Date: 14/03/2014 17:10
Code(s): PFG     PDF:  
Wrap Text
Acceptance Of Allocated Phantom Share Rights

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 BLACK MANAGEMENT PHANTOM SHARE INCENTIVE SCHEME

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


 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   28 February 2014
 DATE OF PHANTOM SHARE RIGHT         12 March 2014
 ACCEPTANCE
 PHANTOM SHARE RIGHT STRIKE PRICE    8 359
 (CENTS)
 NUMBER OF PHANTOM SHARE RIGHTS      1 651
 ALLOCATED
 VESTING DATES OF PHANTOM SHARE      28 February 2019
 RIGHTS
 PERIOD OF EXERCISE                  Participants have until
                                     midnight on 9 February 2024
                                     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 Black
                                     Management Phantom Share
                                     Incentive Scheme
                                     (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 on the vesting date specified
       above.
  iii) The total number of shares that will be issued 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.

14 March 2014
Paarl

Sponsor
PSG Capital

Date: 14/03/2014 05:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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