Sharenet Sites 
Sharenet Sites
Directors’ Dealings
Capital Appreciation Limited
Incorporated in the Republic of South Africa
(Registration number 2014/253277/06)
Share code: CTA
ISIN: ZAE000208245
(“CAPPREC" or “the Company”)
DIRECTORS’ DEALINGS
Name of director: Michael Reuven Pimstein
Grant and acceptance date: 21 September 2020
Class of securities Ordinary shares
Number of securities: 2,886,364 ordinary shares
Price per security: Fair values at grant date per share using the three-day volume
weighted average price of 93,5433 cents per ordinary share
Total value of transaction: R2,700,000
Nature of transaction Off-market grant and acceptance of award made pursuant to the
Capital Appreciation Limited 2019 share plan
Vesting period: The award is subject to performance criteria over a three-year
performance period and continued employment for the duration
of a three-year vesting period
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Bradley Jonathan Sacks
Grant and acceptance date: 21 September 2020
Class of securities Ordinary shares
Number of securities: 2,886,364 ordinary shares
Price per security: Fair values at grant date per share using the three-day volume
weighted average price of 93,5433 cents per ordinary share
Total value of transaction: R2,700,000
Nature of transaction Off-market grant and acceptance of award made pursuant to the
Capital Appreciation Limited 2019 share plan
Vesting period: The award is subject to performance criteria over a three-year
performance period and continued employment for the duration of
a three-year vesting period
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Alan Charles Salomon
Grant and acceptance date: 21 September 2020
Class of securities Ordinary shares
Number of securities: 2,886,364 ordinary shares
Price per security: Fair values at grant date per share using the three-day volume
weighted average price of 93,5433 cents per ordinary share
Total value of transaction: R2,700,000
Nature of transaction Off-market grant and acceptance of award made pursuant to the
Capital Appreciation Limited 2019 share plan
Vesting period: The award is subject to performance criteria over a three-year
performance period and continued employment for the duration of
a three-year vesting period
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Michael Brian Shapiro
Grant and acceptance date: 21 September 2020
Class of securities Ordinary shares
Number of securities: 1,175,926 ordinary shares
Price per security: Fair values at grant date per share using the three-day volume
weighted average price of 93,5433 cents per ordinary share
Total value of transaction: R1,100,000
Nature of transaction Off-market grant and acceptance of award made pursuant to the
Capital Appreciation Limited 2019 share plan
Vesting period: The award is subject to performance criteria over a three-year
performance period and continued employment for the duration of
a three-year vesting period
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
23 September 2020
Sandhurst
Sponsor: Investec Bank Limited
Date: 23-09-2020 07:05:00
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.
