Dealings in securities
OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or “the Company”)
OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALING IN SECURITIES
In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of JSE Limited, shareholders are advised
that Company has offered the following Restricted Shares (RS) to the following directors of the Company, the
Company Secretary and directors of major subsidiaries of the Company (Participants), as set out below.
The offers were accepted on 12 March 2021.
SARs are allocated at an allocation price equal to the volume weighted average price of an Oceana Group share
on the JSE over the 30 trading days immediately prior to the Offer Date (“the Allocation Price”). Provided that the
performance criteria are met, one-third of the SARs allocation will vest on each of the third, fourth and fifth
anniversary dates of the Offer Date (in terms of the performance criteria, the number of SARs vesting in relation to
the full number allocated is progressively reduced if company financial performance targets are not met).
The Participants may elect to delay exercise of the SARs to some future date not exceeding the seventh
anniversary of the Offer Date. The value of the SARs which a Participant may exercise will be calculated with
reference to the difference between the volume weighted average price of an Oceana Group share on the JSE
over the 30 trading days immediately prior to the date on which a Participant exercises his SARs and the Allocation
Price. In terms of the rules of the Share Plan the Company, at its sole and absolute discretion, can decide to settle
the SARs to the Participant in Oceana Group shares or in cash. In respect of the SARs allocations disclosed below
the Company has decided to settle the SARs in cash.
PVS are conditionally awarded with the final number settled after three years from the Offer Date dependent on
the performance criteria set being met. The number of shares to be settled will range from 0% to 300% of the
conditional award. The determined number of PVS will be settled to the Participant in Oceana Group shares or in
cash, at the Company’s sole and absolute discretion.
The SARS and PVS offered may be summarised as follows:
Name Position No of SARS No of PVS awarded
Allocated
I Soomra Chief Executive 289 900 36 900
Officer
H Karrim Chief Financial 118 700 11 900
Officer
L De Waal Director of a major 103 800 10 400
Subsidiary
S Salie Director of a major 98 600 9 900
Subsidiary
S Naidoo Director of a major 25 300 2 200
Subsidiary
N Velleman Director of a major 64 400 6 500
Subsidiary
A Fortune Company Secretary 24 000 2 100
The following are applicable to the above:
- Class of underlying security to which Ordinary shares
rights attach
- SARs Allocation Price per share R 67.94
- PVS Award Price per share R nil (not applicable)
- Nature of transaction Off-market allocation of SARs and PVS
- SARS vesting period One-third of allocation on each of the third,
fourth and fifth anniversary dates of the Offer Date
- PVS vesting period Third anniversary of the Offer Date
- Nature of interest Direct beneficial
In accordance with section 3.66 of the Listings Requirements the necessary clearance was obtained to offer the
abovementioned SARS and PVS.
12 March 2021
Cape Town
Sponsor
The Standard Bank of South Africa Limited
Namibian Sponsor
Old Mutual Investment Services (Namibia) Proprietary Limited
Date: 12-03-2021 04:00:00
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