IMPERIAL LOGISTICS LIMITED - Award of Rights in terms of Imperial Share Incentive Schemes

Award of Rights in terms of Imperial Share Incentive Schemes

Imperial Logistics Limited
Incorporated in the Republic of South Africa
(Registration number: 1946/021048/06)
ISIN: ZAE000067211
Share code: IPL
(“Imperial”)

AWARD OF RIGHTS IN TERMS OF IMPERIAL SHARE INCENTIVE SCHEMES

In compliance with the Listings Requirements of the JSE Limited the
following information is provided:


Imperial has awarded Conditional Share Plan (CSP) rights to its
executive directors and directors of major subsidiaries in respect of
the 2019 financial year as set out in the table below.

The CSP rights will vest in September 2022 and entitle a participant
to receive Imperial shares subject to the achievement of performance
conditions determined by the board of directors of the Company on
allocation as follows:

Condition                                                       Weighting

ROIC between 1% and 3% in excess of WACC                              50%
HEPS vs peer group between 50th percentile and                        50%
upper quartile

All awards were done off-market on Wednesday, 4 September 2019 and the
Imperial share price used to calculate the total Face Value of the
awards is an average VWAP for the two days before the date of award of
R52.02 per share.

The number of CSP awarded to each director is determined using an
Expected Value, which is determined based on a valuation methodology
taking into account the average VWAP of the two days before the date
of award, and the estimated achievement of related performance
conditions.

The actual gains from CSP instruments upon vesting in 2022 will depend
on the extent to which performance conditions are achieved and the
share price at the time of vesting.


Name of Director   Number of CSP    Total Face Value         Total Expected
                                       on award date    Value on award date
                                                     
M Akoojee          373   982             R19 454 543            R10 700 000
JG de Beer         202   719             R10 545 442             R5 800 000
H Bicil            278   167             R14 522 267             R7 987 252
J Truter           164   272              R8 545 429             R4 700 000
N vd Westhuizen    175   055              R9 106 361             R5 008 500


Prior written approval in terms of paragraph 3.66 of the Listing
Requirements was obtained.

Company Secretary
RA Venter

9 September 2019
BEDFORDVIEW

Sponsor: Merrill Lynch South Africa (Pty) Limited

Date: 09/09/2019 12:00:00
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