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METAIR INVESTMENTS LIMITED - Directors dealings in securities

Release Date: 10/12/2014 15:25
Code(s): MTA     PDF:  
Wrap Text
Directors’ dealings 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 7 December 2009, 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 9
December 2014.

 DETAILS OF SALE OF SHARES
 Date of transaction                                               9 December 2014
 Nature of transaction                                             On-market sale of Shares
 Class of Share                                                    Ordinary shares
 Price per Share                                                   R32.3594
 Total number of Shares sold                                       675 723
 Total value of Shares sold                                        R21 865 990.85
 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                      744 134
 Deemed value of Share Appreciation Rights on exercise R26 379 550.30 at a price of R35.45 per Share, being the 20
                                                       day VWAP as at the 8 December 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                                         7 December 2009
 Date of Share Appreciation Rights exercised           8 December 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        5 783       205 007.35           5 783        187 134.41
 Mr M. Slattery       Metindustrial (Pty) Ltd        6 000       212 700.00           6 000        194 156.40
 Mr R.                Metindustrial (Pty) Ltd
                                                     6 097       216 138.65           6 097        197 295.26
 Bezuidenhout
 Ms H. McLachlan      Metindustrial (Pty) Ltd        6 466       229 219.70                -
 Mr A. Becker         Metindustrial (Pty) Ltd      101 106      3 584 207.70        101 106       3 271 729.50
 Mr B. Sivlal         Metindustrial (Pty) Ltd       46 522     1 649 204.90                -                  -
 Mr C. Ellison        Metindustrial (Pty) Ltd        9 438       334 577.10           9 438        305 408.02
 Mr M. Barley         Metindustrial (Pty) Ltd       45 869     1 626 056.05          45 869       1 484 293.32
 Dr L. Denner         Mutlu Holding Anonim
                                                    94 496     3 349 883.20         94 496       3 057 833.86
                      Sirketi
 Mr C.T. Loock        Metair                       370 948     13 150 106.60        370 948      12 003 654.71
 Mr K. Lello          Metair                        51 409     1 822 449.05          35 986       1 164 485.37


Johannesburg
10 December 2014

Sponsor
One Capital

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