Wrap Text
Acceptance and settlement of award of forfeitable shares
ILLOVO SUGAR LIMITED
(Incorporated in the Republic of South Africa)
Company registration number 1906/000622/06
Share Code: ILV
ISIN: ZAE000083846
(“Illovo”)
ILLOVO SUGAR LIMITED – ACCEPTANCE AND SETTLEMENT OF AWARD OF
FORFEITABLE SHARES
In accordance with paragraph 3.63 of the JSE Listings Requirements, shareholders are
advised that the following directors of Illovo and its major subsidiaries as well as the Illovo
company secretary have accepted the awards of Illovo ordinary shares made to them in terms
of Illovo’s Forfeitable Share Plan and that the awarded shares have been purchased and
transferred to them. The salient details of the transactions are set out below:-
Name of the executive director: G B Dalgleish
Designation: Managing Director – Illovo Sugar Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 75 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R1 960 140.00
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
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Clearance to deal: Yes
Name of the executive director: M H Abdool-Samad
Designation: Financial Director – Illovo Sugar Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 31 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R810 191.20
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Name of the executive director: J P Hulley
Designation: Operations Director – Illovo Sugar Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
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Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 33 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R862 461.60
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Name of the executive director: L W Riddle
Designation: Commercial Director – Illovo Sugar Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 24 000
awarded / settled:
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Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R627 244.80
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Name of the company secretary: J A Kunst
Designation: Company Secretary – Illovo Sugar Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 20 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
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to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R522 704.00
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Name of director of major subsidiary: D E Howells
Designation: Managing Director – Illovo Sugar (South
Africa) Limited
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 8 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R209 081.60
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
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of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Name of the director of major subsidiary: I G Parrott
Designation: Director – Zambia Sugar Plc
Nature of transactions: Acceptance and settlement (ie, purchase and
transfer) of forfeitable shares awarded in
terms of the Illovo Sugar Limited Forfeitable
Share Plan
Date of award: 22 May 2014
Date of transactions (ie, acceptance and 2 December 2014
settlement of award):
Number of forfeitable ordinary shares 8 000
awarded / settled:
Class of securities: Ordinary shares in Illovo Sugar Limited
(subject to forfeiture if Employment and
Performance Conditions not met)
Value at which shares awarded: Prevailing market price on the date on which
the shares are settled (ie, purchased) on
behalf of recipient
Volume weighted average price at which R26.1352
shares settled (ie, purchased and transferred
to recipient):
Highest trading price on 2 December 2014: R26.25
Lowest trading price on 2 December 2014: R25.80
Value of shares settled: R209 081.60
Nature and extent of interest in transaction: Direct beneficial, subject to forfeiture in terms
of Forfeitable Share Plan
Vesting period: 31 March 2017, subject to fulfilment of
Employment Condition and Performance
Conditions
On-market transaction: Yes
Clearance to deal: Yes
Mount Edgecombe
3 December 2014
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Sponsor :
J. P. Morgan Equities South Africa Proprietary Limited
Date: 03/12/2014 09:34:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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