AFRICAN RAINBOW MINERALS LIMITED - Dealings in securities by Directors of ARM

Release Date: 08/11/2018 17:00
Code(s): ARI
 
Wrap Text
Dealings in securities by Directors of ARM

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or “the Company”)

Dealings in securities by Directors of ARM

Equity settlement of Performance Shares

A. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of
the JSE Limited (the Listings Requirements), the following information
is provided regarding the equity settlement of Performance Shares by
ARM to the undermentioned Directors of ARM. These awards were made in
terms of The African Rainbow Minerals Limited 2008 Share Plan and were
approved by the ARM’s Board of Directors on recommendation of the
Remuneration Committee. The calculation for the equity settlement of
these shares is based upon the closing ARM share price of R126.25 on
Friday, 12 October 2018.

Date of transaction             6 November 2018
Nature of transaction           Equity settlement of Performance Shares
                                in terms of The African Rainbow Minerals
                                Limited 2008 Share Plan in off-market
                                transactions
Date of award                   22 May 2015
Vesting date                    15 October 2018
Class of securities             Ordinary shares
Extent of interest              Direct, beneficial

Name            Designation                    Number of       Gross Value
                                             Performance       (before tax
                                          Shares settled        liability)
                                                                         R
PT Motsepe      Executive Chairman               165   373   20 878 341.25
MP Schmidt      Chief Executive Officer          130   764   16 508 955.00
M Arnold        Non-executive Director            78   169    9 868 836.25
HL Mkatshana    Executive Director                43   392    5 478 240.00
J C Steenkamp   Non-executive Director            81   003   10 226 628.75
AJ Wilkens      Executive Director                81   003   10 226 628.75

The Board of Directors of ARM, on the recommendation of the
Remuneration Committee, granted the necessary authority to settle these
Performance Shares in terms of paragraph 3.66 of the Listings
Requirements.

Transfer of shares

B. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements,
the following information is provided regarding the election by the
Executive Chairman, Mr Patrice Motsepe, to transfer his shares acquired
by subscription as described in “A” above to African Rainbow Minerals &
Exploration Investments Proprietary Limited (“ARMI”). The shares of
ARMI are indirectly held and beneficially owned by trusts, which
trusts, with the exception of The Motsepe Foundation, hold those shares
for the benefit of Mr Patrice Motsepe and his immediate family. The
Motsepe Foundation applies the benefits emanating from its indirect
shareholding in ARMI for philanthropic purposes. The requisite
clearances and approvals for this transaction have been obtained in
compliance with the Securities Dealing Policies and Procedures of ARM.

Date of transaction               6 November 2018
Nature of transaction             Transfer of shares to the Motsepe
                                  Family Structure, off-market
Deemed price of securities        Closing price of R126.25 on Friday,
transferred                       12 October 2018
Class of securities               Ordinary shares
Nature of interest                Indirect, beneficial
Clearance to deal                 Yes

Name         Designation                       Number of     Total value
                                         Ordinary shares     (before tax
                                             transferred   liability) of
                                                                  shares
                                                             transferred
                                                                       R
PT Motsepe   Executive Chairman                  165 373   20 878 341.25


Deferred Bonus/Co-Investment Scheme

C. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements,
the following information is provided regarding the grant to and
acceptance by the undermentioned Director of ARM of the right to bonus
shares and performance shares in ARM. These awards are made in terms
of The African Rainbow Minerals Limited 2008 Share Plan and on
recommendation of the Remuneration Committee, approved by ARM’s Board
of Directors. The calculation of this grant and award is based upon
the volume weighted average price of the ARM shares for the 20 trading
days ended 5 November 2018, which was R127.92.

1. Bonus shares
Date of transaction               6 November 2018
Nature of transaction             Grant and acceptance of bonus shares in
                                  terms of The African Rainbow Minerals
                                  Limited 2008 Share Plan in an off-
                                  market transaction
Vesting date for settlement       7 November 2021
Class of securities               Ordinary shares
Extent of interest                Direct, beneficial


2. Performance shares
Date of transaction               6 November 2018
Nature of transaction             Award and acceptance of performance
                                  shares in terms of The African Rainbow
                                  Minerals Limited 2008 Share Plan in an
                                  off-market transaction
Vesting date for settlement       7 November 2021
Class of securities              Ordinary shares
Extent of interest               Direct, beneficial


Name              Designation             Number of         Value
                                              Bonus
                                            Shares*             R
 PT Motsepe     Executive Chairman           75 115 9 608 710.80
* The vesting of the Bonus shares is conditional on continued
employment with ARM and where applicable, the reasons for the cessation
of such employment.


Name              Designation             Number of         Value
                                        Performance
                                            Shares*             R
 PT Motsepe     Executive Chairman            75 115 9 608 710.80

* The vesting of the Performance shares is conditional on performance
criteria and continued employment with ARM and where applicable, the
reasons for the cessation of such employment.

The Board of Directors of ARM, on the recommendation of the
Remuneration Committee, granted the necessary authority to grant and
award these bonus shares and performance shares in terms of paragraph
3.66 of the Listings Requirements.


Sandton
8 November 2018

Sponsor to ARM:
Investec Bank Limited

Date: 08/11/2018 05:00:00 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
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
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.

Email this JSE Sens Item to a Friend.

Share This Story