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Dealing in securities by directors - vesting and sale of shares to meet tax obligations
GRINDROD LIMITED
(Registration number: 1966/0009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE000071106
DEALING IN SECURITIES BY DIRECTORS – VESTING AND SALE OF SHARES TO
MEET TAX OBLIGATIONS
Shareholders are referred to the announcement published on SENS on 25 June 2012
detailing an allocation of forfeitable shares. A portion of the shares awarded and accepted by
the executive directors of Grindrod Limited on 25 June 2012 have vested on 31 May 2016 in
terms of the forfeitable share plan and are now free of restrictions imposed by the forfeitable
share plan.
In accordance with paragraph 3.63 to 3.74 of the JSE Listings Requirements, shareholders
are advised that two executive directors of Grindrod Limited sold a portion of the shares that
vested in order to settle their income tax obligation arising from the vesting of the shares. The
vesting and sale of shares that were traded by the executive directors on 31 May 2016 and
1 June 2016, the salient details of which are set out below:
Name of company : Grindrod Limited
Class of securities : Grindrod Ordinary Shares
Nature of transaction : Vesting of Shares
Nature of interests : Direct beneficial
Clearance to deal : Yes
Name of director : AK Olivier
Designation : Chief Executive officer
Number of shares vested on 31 May 2016 : 200 000
Name of company : Grindrod Limited
Class of securities : Grindrod Ordinary Shares
Nature of transaction : Vesting and Sale of Shares
Nature of interests : Direct beneficial
Clearance to deal : Yes
Name of director : AG Waller
Designation : Executive Director
Number of shares vested on 31 May 2016 : 100 000
Date of sale : 1 June 2016
Number of shares sold : 42 142
Highest price of sale transactions : R10.90
Lowest price of sale transactions : R10.12
Weighted average price of sale transactions : R10.41
Total value of sale transactions : R 438 529.65
Name of company : Grindrod Limited
Class of securities : Grindrod Ordinary Shares
Nature of transaction : Vesting and Sale of Shares
Nature of interests : Direct beneficial
Clearance to deal : Yes
Name of director : DA Polkinghorne
Designation : Executive Director
Number of shares vested on 31 May 2016 : 50 000
Date of sale : 1 June 2016
Number of shares sold : 21 071
Highest price of sale transactions : R10.90
Lowest price of sale transactions : R10.12
Weighted average price of sale transactions : R10.41
Total value of sale transactions : R 219 264.83
Name of company : Grindrod Limited
Class of securities : Grindrod Ordinary Shares
Nature of transaction : Vesting of Shares
Nature of interests : Direct beneficial
Clearance to deal : Yes
Name of director : M Wade
Designation : Executive Director
Number of shares vested on 31 May 2016 : 100 000
The vesting took place off market and the above sales took place on market.
Sponsor : Grindrod Bank Limited
Johannesburg
2 June 2016
Date: 02/06/2016 03:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
