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LEWIS GROUP LIMITED - Directors Dealings in Securities

Release Date: 13/11/2014 15:15
Code(s): LEW     PDF:  
Wrap Text
Directors Dealings in Securities

Lewis Group Ltd
Reg. No. 2004/009817/06
JSE Share Code : LEW
ISIN : ZAE 000058236
(Lewis or the “Company”)

Directors Dealings in Securities

In compliance with the requirements 3.63 to 3.74 of the JSE Listings Requirements, the
following should be noted:

1.      The Lewis Executive Performance Scheme – Vesting of Share Awards

In terms of the Lewis Executive Performance Scheme, the share awards granted to the
directors on 17 September 2009 (refer to SENS announcement dated 21 September 2009)
have vested on 11 November 2014 as follows:

                                                                    Share Awards            Implied
     Executive                     Designation                         Vested                Value
J. Enslin             Director, Lewis Group Ltd                        40 000               R2 620 000
L.A. Davies           Director, Lewis Group Ltd                        26 666               R1 746 623
D. Loudon             Director, Lewis Stores (Pty) Ltd                 20 000                R1 310 000
N. Jansen             Director, Lewis Stores (Pty) Ltd                 13 334                 R873 377
R. Oliphant           Director, Lewis Stores (Pty) Ltd                 20 000               R1 310 000

The awards were acquired for no consideration and are in respect of ordinary shares. The
implied value was calculated using the share price of R65.50 at the close of business on 10
November 2014.

2.      Sale of Shares

The directors have sold ordinary shares on 11 and 12 November 2014 in order to settle their
tax liability on the awards vested in 1 above and to re-balance their personal portfolios as
follows:

                                                               Number of
    Executive                    Designation                    Shares         Price         Value
J. Enslin            Director, Lewis Group Ltd                  16 800        R65.9240      R1 107 523
L.A. Davies          Director, Lewis Group Ltd                  11 200        R65.9240       R738 349
D. Loudon            Director, Lewis Stores (Pty) Ltd           20 000        R65.9240      R1 318 480
R. Oliphant          Director, Lewis Stores (Pty) Ltd           10 000        R65.9240       R659 240

The sale of shares was made on the open market. The high and low prices for each director
for the above sales were R66.32 and R65.52 respectively.

Where executives have elected to take transfer of the shares, the transfer will be made off-
market.

All the transactions as set out in 1 and 2 above were for the direct benefit of the directors. The
requisite clearances have been obtained.

Cape Town
13 November 2014
Sponsor:
UBS South Africa (Pty) Ltd

Date: 13/11/2014 03:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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