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Award and acceptance of options, and exercise and related settlement of options
CURRO HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
LEI: 378900E237CB40F0BF96
Company Alpha Code: COHI
("Curro" or "the Company")
AWARD AND ACCEPTANCE OF OPTIONS, AND EXERCISE AND RELATED SETTLEMENT OF OPTIONS
IN TERMS OF THE CURRO HOLDINGS LIMITED EXECUTIVE LONG TERM SHARE INCENTIVE SCHEME
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information
is disclosed regarding the acceptance by directors of the Company of options awarded in terms of the Curro
Holdings Limited Executive Long Term Share Incentive Scheme ("Scheme"):
AWARD AND ACCEPTANCE OF OPTIONS
NAME OF DIRECTORS (1) JP Loubser
(2) M Lategan
(3) BC September
COMPANY OF WHICH A DIRECTOR Curro Holdings Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Options to acquire ordinary shares
NATURE OF TRANSACTIONS Acceptance of an award of conditional options to
acquire ordinary shares in terms of the Scheme, which
may vest over the next five years on the dates set out
below (off-market transaction).
DATE OF AWARD OF OPTIONS 31 March 2025
DATE OF ACCEPTANCE OF OPTIONS 1 April 2025
OPTION STRIKE PRICE R Nil
NUMBER OF OPTIONS ACCEPTED (1) 950 508
(2) 811 410
(3) 625 945
VESTING DATES OF OPTIONS The options are subject to various performance
(IF PERFORMANCE CONDITIONS ARE conditions and may vest in 4 tranches of 25% each
FULFILLED) over the next five years, on the following dates:
- 31 March 2027
- 31 March 2028
- 31 March 2029
- 31 March 2030
TOTAL DEEMED RAND VALUE OF OPTIONS (1) R8 240 904
ACCEPTED (IF ALL OPTIONS ARE DEEMED (2) R7 034 925
TO HAVE VESTED ON THE DATE OF (3) R5 426 943
ACCEPTANCE) Based on the share price at closing on the date of
acceptance of the options, of R8.67 per share.
PERIOD OF EXERCISE Participants have a 6-month period from the vesting
date during which options can be exercised.
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTIONS
EXERCISE AND RELATED SETTLEMENT OF OPTIONS
Following the exercise of the options referred to below, and in accordance with the provisions of the trust deed
of the Curro Holdings Limited Executive Long Term Share Incentive Trust ("Trust"), the Trust settled the
options on an after-tax equity settlement basis, through the award of ordinary shares as detailed below:
NAME OF DIRECTORS (1) JP Loubser
(2) M Lategan
(3) BC September
COMPANY OF WHICH A DIRECTOR Curro Holdings Limited
STATUS: EXECUTIVE/NON-EXECUTIVE Executive
TYPE AND CLASS OF SECURITIES Options in relation to ordinary shares
NATURE OF TRANSACTIONS Exercise of options to acquire ordinary shares in terms
of the Scheme and related after-tax net-equity
settlement (off-market transaction).
DATE OF EXERCISE OF OPTIONS 1 April 2025
VESTING DATE OF OPTIONS EXERCISED 31 March 2025
The options were awarded in 2021, 2022 and 2023
and were subject to various performance conditions
which were partially met for the measurement period.
PERIOD OF EXERCISE Participants have a 6-month period from the vesting
date during which options can be exercised.
OPTION STRIKE PRICE R Nil
NUMBER OF OPTIONS EXERCISED (1) 477 177
(2) 303 607
(3) 141 477
NUMBER OF SHARES SETTLED (1) 262 448
(2) 166 984
(3) 77 812
The shares were transferred to the directors by the
Trust on an after-tax equity settlement basis.
TOTAL RAND VALUE OF SHARES SETTLED (1) R2 204 563
(2) R1 402 666
(3) R653 621
Based on the share price at closing on 31 March 2025,
being the trading date prior to the date of exercise of
the options and settlement of the shares, of R8.40 per
share.
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTIONS
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.
Durbanville
2 April 2025
Equity and Debt Sponsor
PSG Capital
Date: 02-04-2025 11:30:00
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