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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 28 March 2024
DATE OF ACCEPTANCE OF OPTIONS 3 April 2024
OPTION STRIKE PRICE R Nil
NUMBER OF OPTIONS ACCEPTED (1) 861 969
(2) 732 674
(3) 560 280
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 2026
- 31 March 2027
- 31 March 2028
- 31 March 2029
TOTAL DEEMED RAND VALUE OF OPTIONS (1) R9 421 321
ACCEPTED (IF ALL OPTIONS ARE DEEMED (2) R8 008 127
TO HAVE VESTED ON THE DATE OF (3) R6 123 860
ACCEPTANCE) Based on the share price at closing on the date of
acceptance of the options, of R10.93 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 2 April 2024
VESTING DATE OF OPTIONS EXERCISED 31 March 2024
The options were awarded in 2021 and 2022 and were
subject to various performance conditions which were
successfully achieved 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) 366 256
(2) 195 336
(3) 73 251
NUMBER OF SHARES SETTLED (1) 201 440
(2) 107 435
(3) 40 288
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 215 840
(2) R1 181 785
(3) R443 168
Based on the share price at closing on 28 March 2024,
being the trading date prior to the date of exercise of
the options and settlement of the shares, of R11.00
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
4 April 2024
Equity and Debt Sponsor
PSG Capital
Date: 04-04-2024 04:30:00
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