ADCORP HOLDINGS LIMITED - Dealing in securities by directors of the company, a major subsidiary and the company secretary

Dealing in securities by directors of the company, a major subsidiary and the company secretary

Adcorp Holdings Limited
Registration number 1974/001804/06
Share code: ADR
ISIN number: ZAE000000139
(“Adcorp” or “the Company”)

DEALING IN SECURITIES BY DIRECTORS OF THE COMPANY, A MAJOR SUBSIDIARY
AND THE COMPANY SECRETARY

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed in respect of off-market awards and acceptances
of Performance Shares (PFs) in respect of Adcorp ordinary shares.

These allocations relate to the February 2017 year end and hence they
vest in 2020. The allocations were proposed during the 2018 financial
year however as the performance criteria were finalised during the
closed period, the allocations were only accepted now. The above
allocations have been provided for in the results for the year ended
February 2018.

The PFs performance criteria are as follows:

Return on invested capital (ROIC)- 50% weighting
No award for ROIC below the Weighted Average Cost of Capital (WACC)
50% awarded where ROIC exceeds WACC by 2%
100% awarded where ROIC exceeds WACC by 4%

Headline Earnings per Share (HEPS) Growth – 50% weighting
No award where HEPS growth is zero or below
50% awarded where HEPS growth is 10%
100% awarded where HEPS growth is 20%

Name of director:             MA Jurgens
Date of acceptance:           23 May 2018
Number of shares:             139 650
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R2 467 615.50
Vesting date:                 1 March 2020
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes

Name of director of
major subsidiary (being
Adcorp Workforce Solutions
(Pty) Ltd            :        K Vittee
Date of acceptance:           23 May 2018
Number of shares:             139 650
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R2 467 615.50
Vesting date:                 1 March 2020
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes
Name of company secretary:    KH Fihrer
Date of acceptance:           23 May 2018
Number of shares:             46 550
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R822 538.50
Vesting date:                 1 March 2020
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes


24 May 2018
Bryanston

Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

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