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STEINHOFF INTERNATIONAL HOLDINGS LTD - Dealing in securities by directors

Release Date: 23/02/2015 16:55
Code(s): SHF     PDF:  
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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