Wrap Text
Posting of circular and notice of general meeting
relating to long term incentive plan for employees
TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or “the Company” or “the Group”)
POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING IN RELATION
TO A LONG TERM INCENTIVE PLAN FOR TORRE EMPLOYEES
1. INTRODUCTION AND RATIONALE
Torre shareholders are advised that a circular (the
“Circular”) has been distributed today, Monday, 1 September
2014 relating to the adoption of a Share Appreciation Rights
Plan and a Bonus Share Plan (together the “Long Term Incentive
Plan”).
The Long Term Incentive Plan is in line with local best
practice and is intended to attract, retain, motivate and
reward key employees of Torre and its subsidiaries. The Long
Term Incentive Plan will provide key Torre employees with the
opportunity to create value from the long term performance of
the Group and so align their interests fully with those of
Torre shareholders.
In order for the Company to adopt the Long Term Incentive Plan
Torre shareholders will be required to pass various ordinary
and special resolutions at a general meeting.
2. GENERAL MEETING
Accordingly a general meeting of Torre Shareholders will be
held at 09:00 on Tuesday, 30 September 2014 at the Company’s
head office at 59 Merino Avenue, City Deep, Johannesburg, 2197
(the “General Meeting”) to consider and, if deemed fit, to
pass, with or without modification, the ordinary and special
resolutions set out in the notice of General Meeting.
3. SALIENT DATES AND TIMES
2014
Record date in order to be eligible to Friday, 22 August
receive the notice of General Meeting
Circular and notice of General Meeting Monday, 1 September
posted to Torre Shareholders
Last date to trade in order to be Friday, 12 September
eligible to vote at the General Meeting
Record date in order to be eligible to Friday, 19 September
vote at the General Meeting
Last date to lodge forms of proxy for Friday, 26 September
the General Meeting by 09h00
General Meeting at 59 Merino Avenue, Tuesday, 30 September
City Deep, 2197, Johannesburg at 09h00
Results of General Meeting released on Tuesday, 30 September
SENS
Notes
1. All times indicated in this SENS are local times in South
Africa.
2. The dates and times indicated in the table above are
subject to change. Any such changes will be released on
SENS.
3. Share certificates in the name of Torre Industries Limited
will not be able to be rematerialised or dematerialised
between Monday, 15 September 2014 and Friday, 19 September
2014 both days inclusive.
4. To be valid, the completed forms of proxy must be lodged
with the Transfer Secretaries, being Link Market Services
South Africa Proprietary Limited, 13th Floor, Rennie House,
19 Ameshoff Street, Braamfontein, 2001 (PO Box 4844,
Johannesburg, 2000), by no later than Friday, 26 September
2014 at 09h00, alternatively, such forms of proxy may be
handed to the company secretary or chairperson of the
Company at the meeting until the commencement of the
General Meeting.
Johannesburg
1 September 2014
Corporate Finance Adviser and Designated Adviser to Torre
AfrAsia Corporate Finance (Pty) Ltd
Date: 01/09/2014 12:13:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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