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METAIR INVESTMENTS LIMITED - Director dealing in securities

Release Date: 27/11/2014 09:15
Code(s): MTA     PDF:  
Wrap Text
Director dealing in securities

METAIR INVESTMENTS LIMITED
(Reg No. 1948/031013/06)
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE000090692
(“Metair”)

DIRECTORS’ DEALINGS IN SECURITIES

In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings
Requirements”), the following off-market transactions by directors of Metair and its major subsidiaries are hereby disclosed.

On 25 November 2010, Metair ordinary shares ("Shares") were conditionally granted (“Share Appreciation Rights”), to certain
of the directors of Metair and its major subsidiaries (“Participants”) in accordance with The Metair Investments Limited 2009
Share Plan (“Share Plan”). These Share Appreciation Rights have partially vested and have been exercised by the Participants
pursuant to which the Participants received Shares at no cost.

In order to facilitate the disposal of these Shares received by the Participants in an orderly fashion, the Participants have entered
into a pooled sale in terms of which the Participant's Shares were disposed through a single arranged on-market trade on 26
November 2014.

 DETAILS OF SALE OF SHARES
 Date of transaction                                               26 November 2014
 Nature of transaction                                             On-market sale of Shares
 Class of Share                                                    Ordinary shares
 Price per Share                                                   R35.307
 Total number of Shares sold                                       69 559
 Total value of Shares sold                                        R 2 455 919.63
 Written clearance to deal obtained                                Yes

Further details of the exercise of the Share Appreciation Rights, the related receipt of Shares and sale of Shares are provided
below:

 DETAILS OF EXERCISE OF SHARE APPRECIATION RIGHTS
 Total number of Shares exercised                      83 469
 Deemed value of Share Appreciation Rights on exercise R3 115 897.77 at a price of R37.33 per Share, being the 20
                                                       day VWAP as at the 24 November 2014
 Class of securities                                   Ordinary shares
 Nature of transaction                                 Off-market acquisition of Shares pursuant to the exercise of
                                                       Share Appreciation Rights at no cost
 Date of award                                         25 November 2010
 Date of Share Appreciation Rights exercised           25 November 2014
 Vesting period                                        In equal thirds on the 3rd, 4th and 5th anniversaries but need
                                                       not be exercised until the 6th anniversary
 Written clearance to deal obtained                    Yes

Details of the exercise of the Share Appreciation Rights, the related receipt of Shares and sale of Shares by directors of Metair
and its major subsidiaries who were Participants are tabled below. The nature of the interest of all Participants is direct
beneficial.

 Director             Company name                 No. of Deemed value               No. of          Value of
                                                   Share      of Share              Shares        Shares sold
                                                Appreciat Appreciation                sold            (Rand)
                                                      ion       Rights
                                                   Rights    exercised
                                                exercised       (Rand)
 
Mr A. Webb           Metindustrial (Pty) Ltd        3 297       123 077.01                -                 -
 Mr M. Slattery       Metindustrial (Pty) Ltd        3 504       130 804.32           3 504        123 715.73
 Mr R. Bezuidenhout   Metindustrial (Pty) Ltd        3 531       131 812.23           3 531        124 669.02
 Ms H. McLachlan      Metindustrial (Pty) Ltd        3 648       136 179.84           3 648        128 799.94
 Mr A. Becker         Metindustrial (Pty) Ltd       10 731       400 588.23         10 731         378 879.42
 Mr B. Sivlal         Metindustrial (Pty) Ltd        3 927       146 594.91              -                  -
 Mr C. Ellison        Metindustrial (Pty) Ltd        3 361       125 466.13           3 361        118 666.83
 Mr M. Barley         Metindustrial (Pty) Ltd        3 682       137 449.06           3 682        130 000.37
 Dr L. Denner         Mutlu Holding Anonim          
                      Sirketi                       10 964       409 286.12         10 964         387 105.95
 Mr C.J. Janse van    Mutlu Holding Anonim
 Rensburg             Sirketi                        2 345         87 538.85          2 345         82 794.92
 Mr C.T. Loock        Metair                        22 993       858 328.69         22 993         811 813.85
 Mr K. Lello          Metair                        11 486       428 772.38           4 800        169 473.60

The terms and conditions of the share appreciation rights are:

 Date of award                                                 26 November 2014
 Number of SARs awarded to Participants                        220 949
 Price paid per SAR                                            Nil
 Total value of transaction                                    Nil
 Allocation price per SAR                                      R37.35
 Nature of transaction                                         Acceptance of awards
 First vesting date                                            26 November 2017
 Vesting period                                                In equal thirds on 3rd, 4th and 5th anniversaries but need not
                                                               be exercised until the 6th anniversary
 Transaction completed on market                               No
 Clearance obtained in terms of paragraph 3.66 of the Listings Yes
 Requirements

The details of the allocation of the Share Appreciation Rights per Participant are set out below. The nature of the interest of all
Participants is direct beneficial.

                                                                               No. of SARs
Director                           Company name                                   accepted
                                                                           
Mr R. Bezuidenhout                 Metindustrial (Pty) Ltd                          14 908
Ms H. McLachlan                    Metindustrial (Pty) Ltd                           6 560
Mr M. Slattery                     Metindustrial (Pty) Ltd                           6 240
Mr A. Webb                         Metindustrial (Pty) Ltd                           5 867
Mr J. Ward                         Metindustrial (Pty) Ltd                           3 771
Mr N. Mavhungu                     Metindustrial (Pty) Ltd                           6 370
Mr MC. Mahlanu                     Metindustrial (Pty) Ltd                           3 465
Mr A. Becker                       Metindustrial (Pty) Ltd                          18 674
Mr B. Sivlal                       Metindustrial (Pty) Ltd                           7 022
Mr C. Ellison                      Metindustrial (Pty) Ltd                           5 836
Mr M. Barley                       Metindustrial (Pty) Ltd                           7 463
Mr M. Barley                       Metindustrial (Pty) Ltd                           6 492
Dr L. Denner                       Mutlu Holding Anonim Sirketi                     25 580
Mr C.J. Janse van Rensburg         Mutlu Holding Anonim Sirketi                      4 661
Mr C.T. Loock                      Metair                                           49 732
Mr S. Douwenga                     Metair                                           22 493
Mr K. Lello                        Metair                                           25 815

The terms and conditions of the share appreciation rights are:

 Date of award                                                      26 November 2014
 Number of SARs awarded to Participants                             250 000
 Price paid per SAR                                                 Nil
 Total value of transaction                                         Nil
 Allocation price per SAR                                           R37.35
 Nature of transaction                                              Acceptance of awards
 First vesting date                                                 26 November 2017
 Vesting period                                                     20% per annum over the following 5 years from vesting date
 Transaction completed on market                                    No
 Clearance obtained in terms of paragraph 3.66 of the Listings      Yes
 Requirements

The details of the allocation of the Share Appreciation Rights per Participant are set out below. The nature of the interest of all
Participants is direct beneficial.

                                                                          No. of SARs
Director                         Company name                                accepted
                                                                            
Mr S. Douwenga                   Metair                                       250 000

Johannesburg
27 November 2014

Sponsor
One Capital

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