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METAIR INVESTMENTS LIMITED - Directors dealings in securities

Release Date: 10/04/2015 09:05
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” or “Company”)

DIRECTORS’ DEALINGS IN SECURITIES

1. ALLOCTION OF PERFORMANCE SHARES

In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited (“Listings
Requirements”), we hereby advise of the following acceptances of performance shares
(“Performance Shares”), which may be settled in cash or Metair ordinary shares, in terms of The
Metair Investments Limited 2009 Share Plan (“Share Plan”), by directors of the Company and its
major subsidiaries (“Participants”).

The terms and conditions of the Performance Shares are:

  Date of award                                     2 April 2015
  Number of Performance Shares awarded              70 417
  to participants
  Price paid per Performance Share                  Nil
  Total value of transaction                        Nil
  Allocation price per Performance Share            R33.90
  Class of securities                               Ordinary shares
  Nature of transaction                             Acceptance of Performance Shares
  Nature of interest                                Direct beneficial
  Vesting date                                      2 April 2018
  Vesting period                                    Performance Shares vest on the third
                                                    anniversary of the award date to the
                                                    extent that the Company has met
                                                    specified performance criteria during the
                                                    intervening period
  Transaction completed on market                   No
  Clearance obtained in terms of paragraph          Yes
  3.66 of the Listings Requirements

The nature of the interest of all Participants is direct beneficial. The Performance Shares were
accepted by the following Participants:

  Director                   Company name                 No. of                Deemed value
                                                          Performance                     of
                                                          Shares                 Performance
                                                          accepted                    Shares
                                                                                      (Rand)
  Mr L. Denner               Mutlu Holding Anonim         14 240                  482 736.00
                             Sirketi (“Mutlu
                             Holding”)
  
  Mr C.J. Janse van          Mutlu Holding                4 762                    161 431.80
  Rensburg
  
   Director                   Company name                 No. of               Deemed value
                                                          Performance                     of
                                                          Shares                 Performance
                                                          accepted                    Shares
                                                                                      (Rand)
  Mr K.E. Lello              Metair                       13 431                  455 310.90

  Mr S. Douwenga             Metair                       10 135                   343 576.50

  Mr C.T. Loock              Metair                       27 849                   944 081.10


2. Settlement of Performance and Bonus Shares

Metair herewith advises of the settlement of Performance Shares and bonus shares (“Bonus
Shares”) conditionally granted on 4 April 2012 to certain participants. The Performance Shares
and Bonus Shares were awarded in terms of Share Plan. In terms of the provisions of the Share
Plan, the Bonus Shares are to be settled following vesting and the Performance Shares are to
be settled following vesting and once the Metair board of directors has determined the extent to
which the performance criteria imposed on the award have been achieved.

The terms and conditions of the Performance Shares are:

  Date of award                                     4 April 2012
  Date Performance Shares settled                   7 April 2015
  Total number of Performance Shares                46 256
  settled on 7 April 2015
  Price paid per Performance Share                  Nil
  Deemed value of the Performance Shares            R1 579 642.40
  on settlement (based on the prevailing
  market price being the closing price for
  Metair shares on 2 April 2015 of 3 415
  cents per share)
  Class of securities                               Ordinary shares
  Nature of transaction                             Settlement of Performance Shares
  Vesting date                                      7 April 2015
  Vesting period                                    Performance Shares vest on the third
                                                    anniversary of the award date to the
                                                    extent that the Company has met
                                                    specified performance criteria during the
                                                    intervening period
  Transaction completed on market                   No
  Clearance obtained in terms of paragraph          Yes
  3.66 of the Listings Requirements

The terms and conditions of the Bonus Shares are:

  Date of award                                   4 April 2012
  Date Bonus Shares settled                       7 April 2015
  Total number of Bonus Shares settled on         37 305
  7 April 2015
  Price paid per Bonus Share                      Nil
  Deemed value of the Bonus Shares on             R1 273 965.75
  settlement (based on the prevailing market
  price being the closing price for Metair
  shares on 2 April 2015 of 3 415 cents per
  share)
  Class of securities                             Ordinary shares
  Nature of transaction                           Settlement of Bonus Shares
  Vesting date                                    7 April 2015
  Vesting period                                  Bonus Shares vest on the third anniversary
                                                  of the award date
  Transaction completed on market                 No
  Clearance obtained in terms of paragraph        Yes
  3.66 of the Listings Requirements

The details of the settlement of the Performance Shares per Participant are set out below. The
nature of the interest of all Participants is direct beneficial.

  Director                  Company name                 No. of               Deemed value
                                                         Performance              of settled
                                                         Shares settled        Performance
                                                                                     Shares
                                                                                     (Rand)
  Mr L. Denner              Mutlu Holding Anonim         10 420                  355 843.00
                            Sirketi (“Mutlu
                            Holding”)

  Mr C.J. Janse van         Mutlu Holding                3 900                    133 185.00
  Rensburg

  Mr K.E. Lello             Metair                       10 665                   364 209.75

  Mr C.T. Loock             Metair                       21 271                   726 404.65


The details of the settlement of the Bonus Shares per Participant are set out below. The nature
of the interest of all Participants is direct beneficial.

  Director                  Company name                 No. of Bonus         Deemed value
                                                         Shares                   of settled
                                                         settled              Bonus Shares
                                                                                     (Rand)
  Mr L. Denner              Mutlu Holding                7 164                   244 650.60

  Mr C.J. Janse van         Mutlu Holding                4 919                    167 983.85
  Rensburg

  Mr K.E. Lello             Metair                       7 255                    247 758.25

  Mr C.T. Loock             Metair                       17 967                   613 573.05


3. Disposal of Performance and Bonus Shares

Following the settlement of the Performance Shares and Bonus Shares, Participants disposed
of their Metair ordinary shares off-market on 8 April 2015 at a share price of R34.20
(“Disposal”) as detailed in the table below. The nature of the interest of all Participants in the
Disposal is direct beneficial and clearance in terms of paragraph 3.66 of the Listings
Requirements was obtained in all instances.

                                                                                Proceeds from
                                                      No. of ordinary
 Director                  Company name                                              Disposal
                                                     shares disposed
                                                                                       (Rand)
 Mr L. Denner              Mutlu Holding                         17 584              601 372.80
 Mr C.J. Janse van
                           Mutlu Holding                          8 819              301 609.80
 Rensburg
 Mr K.E. Lello             Metair                                17 920              612 864.00
 Mr C.T. Loock             Metair                                39 238            1 341 939.60


Johannesburg
10 April 2015

Sponsor
One Capital

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