AVI LIMITED - Acceptance Of Share Appreciation Rights (SARs) By AVI Directors And Directors Of A Major Subsidiary

Release Date: 25/06/2018 16:55
Code(s): AVI
 
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Acceptance Of Share Appreciation Rights (“SARs”) By AVI Directors And Directors Of A Major Subsidiary

AVI Limited
Incorporated in the Republic of South Africa
Registration Number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI”)


ACCEPTANCE OF SHARE APPRECIATION RIGHTS (“SARs”) BY AVI DIRECTORS AND
DIRECTORS OF A MAJOR SUBSIDIARY


In compliance with sections 3.63 – 3.74 of the Listings Requirements
of the JSE Limited, the following information is disclosed:


Director                     :   Simon Crutchley
Company                      :   AVI
Date of transaction          :   25 June 2018
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   178 728
SARs allocation price        :   R108.73
Total value of transaction   :   R19,433,095.44
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   Michael Koursaris
Company                      :   AVI
Date of transaction          :   25 June 2018
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   67 806
SARs allocation price        :   R108.73
Total value of transaction   :   R7,372,546.38
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   Keith Phillips
Company                      :   National Brands Limited
Date of transaction          :   25 June 2018
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   26 940
SARs allocation price        :   R108.73
Total value of transaction   :   R2,929,186.20
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   David Hood
Company                      :   National Brands Limited
Date of transaction          :   25 June 2018
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   73 078
SARs allocation price        :   R108.73
Total value of transaction   :   R7,945,770.94
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Illovo
25 June 2018

Sponsor
The Standard Bank of South Africa Limited

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