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ROYAL BAFOKENG PLATINUM LIMITED - Employee Incentive Scheme Awards

Release Date: 23/10/2018 17:00
Code(s): RBP RBPCB     PDF:  
Wrap Text
Employee Incentive Scheme Awards

ROYAL BAFOKENG PLATINUM LIMITED
Incorporated in the Republic of South Africa)
Registration number: 2008/015696/06)
JSE share code: RBP
ISIN: ZAE000149936
Company code: RBPD
Bond code: RBPCB
ISIN: ZAE000243853
(“RBPlat” or the “Company”)


RBPLAT EMPLOYEE INCENTIVE SCHEME AWARDS

Shareholders are advised that the Board has approved an allocation of
scheme shares to eligible employees under the Bonus Share Plan (BSP) and
the Forfeitable Share Plan (FSP), amounting to 1 387 106 and 1 048 110
scheme shares respectively, at a deemed value of R23.40 per share,
effective 1 August 2018.

The full allocation of BSP scheme shares will vest on 1 April 2021 in
terms of the BSP scheme rules and the FSP scheme shares will vest at a
rate of one third, on 1 April 2021, 2022 and 2023, subject to the
performance criteria being met in terms of the FSP scheme rules. The
scheme shares will be allotted and issued on the respective vesting dates
as described above.

The following executive directors, directors of a major subsidiary and
the company secretary, will receive awards as follows:

SD Phiri (chief executive officer)
 69 398 ordinary shares in respect of the BSP scheme
221 899 ordinary shares in respect of the FSP scheme
Total current market related value: R6 816 350

NA Carr (director of a major subsidiary)
 45 847 ordinary shares in respect of the BSP scheme
116 117 ordinary shares in respect of the FSP scheme
Total current market related value: R3 789 958

KV Tlhabanelo (director of a major subsidiary)
34 082 ordinary shares in respect of the BSP scheme
69 057 ordinary shares in respect of the FSP scheme
Total current market related value: R2 413 453

LC Jooste (company secretary)
34 041 ordinary shares in respect of the BSP scheme
Total current market related value: R796 559

The deemed value is determined using the 30 day VWAP of R23.40 at the
effective date of the allocation, being 1 August 2018. The transaction
date for the allocations is 18 October 2018.

The nature and extent of interests in the above transactions are direct
beneficial (once vested). All the aforementioned trades were done off
market and clearance to trade has been given in terms of the JSE Listings
Requirements.

Johannesburg
23 October 2018

JSE Sponsor
Merrill Lynch South Africa (Pty) Limited

For further enquiries, please contact:

Lester Jooste
Company Secretary
Tel: +27 (0)10 590 4519
Email: lester@bafokengplatinum.co.za

Date: 23/10/2018 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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