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Dealings in securities by Directors, by the Company Secretary and by the JSE LTIS 2010 Trust
JSE Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
ISIN: ZAE000079711
Share Code: JSE
("JSE" or “the Company”)
DEALINGS IN SECURITIES BY DIRECTORS, BY THE COMPANY SECRETARY AND BY THE
JSE LTIS 2010 TRUST
In accordance with the terms of the JSE’s Long Term Incentive Scheme 2010
(“LTIS 2010”), a total of 445 830 JSE ordinary shares have been acquired
in the open market, on behalf of LTIS 2010 participants, to fulfil share
awards granted under LTIS 2010.
These ordinary shares are held in trust and are restricted until all
vesting conditions are fulfilled whereupon the shares vest. To the
extent that the vesting conditions are not fulfilled the share awards are
forfeited.
The vesting of these restricted JSE ordinary shares is subject to –
(i) the JSE achieving specified corporate performance targets over the
measurement period; and
(ii) a LTIS 2010 participant remaining in the employ of the JSE for the
vesting term.
These JSE ordinary shares were acquired on-market, with clearance, at a
volume-weighted average price of R148.57 per ordinary share. The high
and low prices for the various transactions were –
Date in 2016
that JSE Number of JSE
ordinary ordinary
shares shares Daily high Daily low
acquired acquired Daily VWAP price paid price paid
26 February 20 859 135.28 134.50 136.20
29 February 55 495 141.57 138.00 142.50
1 March 82 848 145.98 142.35 147.00
2 March 50 000 149.87 146.25 151.72
3 March 55 000 149.96 149.40 151.50
4 March 44 000 150.65 148.00 152.95
7 March 80 000 153.45 152.51 154.53
8 March 57 628 153.05 149.10 154.00
The individual allocations (grant and acceptance) were approved by the
JSE Board Human Resources, Social and Ethics Committee and clearance to
deal was granted by the Chairman of the Board.
At the Company’s annual general meeting held on 8 May 2014, shareholders
granted the following permissions in respect of the acquisition of JSE
ordinary shares:
(i) Acquisition of JSE ordinary shares in the open market, granted in
terms of special resolution #4 approved by the requisite majority of
shareholders; and
(ii) Provision of specific financial assistance to the Trust for the
purpose of acquiring the shares, granted in terms of special
resolution #5 approved by the requisite majority of shareholders.
ALLOCATION OF SECURITIES TO DIRECTORS, THE COMPANY SECRETARY AND
PRESCRIBED OFFICERS
Members of the JSE’s executive committee, which includes the executive
directors and Company Secretary, have accepted grants of restricted
ordinary shares in the Company, as reflected in this announcement.
The vesting of these restricted JSE ordinary shares is subject to the
same vesting criteria as set out above. For some executive committee
members (as indicated in the table below) a portion of their share award
is also subject to a separate restraint and retention agreement being
concluded with the JSE, in addition to meeting the corporate vesting
criteria.
Number of
JSE ordinary shares awarded
Corporate
performance Total value
shares of JSE
Executive Corporate subject to ordinary
Committee performance additional shares
member Role shares restraint & awarded Holding
retention
agreement
CEO & Direct
NF Newton-King Executive 41 240 NIL 6 127 027 beneficial
Director
CFO & Direct
A Takoordeen Executive 15 000 15 000 4 457 100 beneficial
Director
JH Burke Alternate 16 540 16 540 4 914 696 Direct
Director beneficial
Alternate Direct
LV Parsons Director 17 790 17 790 5 286 121 beneficial
Prescribed Direct
A Greenwood Officer 15 960 NIL 2 371 177 beneficial
Prescribed Direct
ZA Jacobs Officer 14 320 14 320 4 255 045 beneficial
Prescribed Direct
D Oosthuyse Officer 17 730 17 730 5 268 292 beneficial
Prescribed Direct
RJ van Wamelen Officer 16 560 16 560 4 920 638 beneficial
Company Direct
GA Brookes Secretary 12 390 12 390 3 681 565 beneficial
The corporate performance shares that are subject to a restraint and
retention agreement will vest on 1 March 2019, subject to the vesting
conditions being achieved.
The remaining corporate performance shares (not subject to a restraint
and retention agreement) will vest in two tranches, one-half on 1 March
2019 and the remaining half on 1 March 2020, subject to the vesting
conditions being achieved.
Individual share allocations have been accepted by the members of the
executive committee on 4 March 2016.
Sandton
10 March 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/03/2016 02:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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