TIGER BRANDS LIMITED - Grant and acceptance of conditional share awards to the company secretary

Grant and acceptance of conditional share awards to the company secretary

TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
(“Tiger Brands” or the “Company”)


Grant and acceptance of conditional share awards to the company
secretary

In compliance with paragraphs 3.63 - 3.74 of the Listings
Requirements of JSE Limited, shareholders are advised that Tiger
Brands has, on 3 December 2021 (“Offer Date”), offered Performance
Vesting Shares ("PVS") and Restricted Shares (“RS”) in terms of
the Tiger Brands Limited 2013 Share Plan to the company secretary
(“Participant").

The offer was accepted by the Participant on 8 December 2021.

PVS are conditionally awarded with the final number of Tiger
Brands ordinary shares (“Shares”) settled after three years from
the Offer Date. The number of Shares to be settled will range
from 0% to 200% of the conditional award dependent on the specific
performance criteria for the PVS being met. The determined number
of PVS will be settled to the Participant in Shares or in cash,
at the Company’s sole and absolute discretion.

RS have been granted to the Participant as retention shares.
These Shares vest after three years from the Offer Date and will
be settled to the Participant in Shares or in cash, at the
Company’s sole and absolute discretion.

The offer to the Participant can be summarised as follows:


Name         Position            No. of     No. of   Deemed value
                                   PVS        RS      of at Offer
                                awarded    granted    Date (Rand)

JK Monaisa   Company               2,420     3,320 1,075,044.60*
             Secretary


* Deemed value determined by applying the closing price of a
Share on the Offer Date (i.e. R187.29 per Share) to the total
number of PVS and RS awarded/granted (i.e. it is assumed that
100% of the PVS awarded will be settled upon vesting)

The following details are applicable to the above:

-   Class of underlying security to Ordinary shares
    which PVS and RS
    rights attach
-   PVS Award Price per Share        Rnil (not applicable)
-   RS Grant Price per Share         Rnil (not applicable)
-   Nature of transaction            Off-market allocation of PVS
                                     and RS
-   PVS vesting period               Third anniversary of the Offer
                                     Date
-   RS 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 for acceptance of the
abovementioned PVS and RS offers.


Bryanston
9 December 2021

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 09-12-2021 04:34:00
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