Wrap Text
Dealing in securities by directors
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration no. 1998/003951/06)
Share code: SHF
ISIN: ZAE000016176
(“Steinhoff”, “the Company” or “the Group”)
Dealing in securities by directors
In compliance with paragraph 3.63 of the Listings Requirements
of the JSE Limited, the board and the Human Resources and
Remuneration Committee (“Remcom”) wish to inform shareholders of
the following dealings arising from the Group`s share incentive
schemes.
2011 Grant vesting
In terms of the share incentive scheme approved by shareholders
in 2010, share rights were granted to participants on 1 December
2011. These share rights were allocated at a nominal value of
0.5 cents per share and matured on the third anniversary of the
grant date. As fully disclosed in Steinhoff`s 2014 Integrated
Report and Annual Financial Statements, Remcom assessed the
vesting criteria and determined that the Group met all vesting
criteria.
As announced on SENS on 15 December 2014, Remcom resolved to
defer the vesting of Steinhoff shares in terms of the 2011 grant
in respect of certain directors of the Company until early in
2015 (“the Deferral”). The Deferral was necessitated by
extraneous regulatory restrictions related to Steinhoff’s
intended acquisition of Pepkor Holdings Proprietary Limited
(“Pepkor”), which restrictions terminated on 26 January 2015
with the passing at the general meeting of the necessary
resolutions required in order to approve and implement the
Pepkor acquisition. Accordingly, Remcom has now resolved to
vest the above mentioned share rights.
Shareholders are therefore advised that the share rights in
respect of the following directors and officers of the Group
have vested on 17 February 2015 at the weighted average trading
price on that date. The participants were informed of the
vesting on 18 February 2015. In light of the above, the
directors did not exercise discretion in terms of the vesting of
the share rights.
Name of Director No of shares Vesting Value
that price
beneficially Cents per R
vested share
(directly
and/or
indirectly)
JNS Du Plessis 249,765 65.97 16,476,997.05
HJK Ferreira 392,487 65.97 25,892,367.39
SJ Grobler 392,487 65.97 25,892,367.39
KJ Grove 267,605 65.97 17,653,901.85
MJ Jooste 1,056,504 65.97 69,697,568.88
AB La Grange 321,126 65.97 21,184,682.22
FJ Nel 231,924 65.97 15,300,026.28
M Nel 196,597 65.97 12,969,504.09
DM van der Merwe 428,168 65.97 28,246,242.96
Furthermore, as announced on 15 December 2014, share rights in
respect of the 2014 grant, under the share scheme approved by
shareholders on 6 December 2010 for the 2014/2015 financial year
will be announced in due course.
Clearance has been obtained in terms of paragraph 3.66 of the
JSE Listings Requirements for all the above transactions.
By Order of the Board
Steinhoff Africa Secretarial Services Proprietary Limited
COMPANY SECRETARY
23 February 2015
Sponsor - PSG Capital (Pty) Limited
Date: 23/02/2015 04:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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