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RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) by a director

Release Date: 05/10/2016 16:31
Code(s): RCL     PDF:  
Wrap Text
Dealings in share appreciation rights (“SARs”) by a director

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) BY A DIRECTOR

The following transaction is disclosed in relation to SARs which
were awarded on 5 September 2012. SARs award prices and exercise
prices were determined as the 5-day VWAP as at the respective
award and exercise dates:

Director                      :   P D Cruickshank
Company                       :   RCL Foods Sugar & Milling Pty
                                  Ltd, a major subsidiary of the
                                  Company
Date of transaction           :   28 September 2016
Nature of transaction         :   Off-market      acceptance     and
                                  exercise   of   SARs   which   are
                                  subsequently equity settled in
                                  accordance with the RCL Foods
                                  Limited Share Appreciation Rights
                                  Scheme
Class of securities           :   SARs in respect of ordinary
                                  shares
Number of SARs exercised      :   96,457
SARs award price              :   R13.20
SARs exercise price           :   R14.84
Total gain on transaction     :   158,189.48
Equivalent number of shares   :   10,659
Nature of interest            :   Direct beneficial
Clearance obtained            :   Yes


Durban
05 October 2016

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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