KAP LIMITED - Grant and acceptance of options in terms of the KAP performance share rights scheme

Grant and acceptance of options in terms of the KAP performance share rights scheme

KAP LIMITED
(former name KAP Industrial Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
JSE alpha code: KAP
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company')




GRANT AND ACCEPTANCE OF OPTIONS IN TERMS OF THE KAP PERFORMANCE SHARE RIGHTS
SCHEME


In compliance with paragraphs 6.42 to 6.44 of the JSE Limited Debt Listings Requirements, the following
information regarding the grant and acceptance of options by certain executive directors of KAP and of its major
subsidiaries, in terms of the KAP Performance Share Rights Scheme ("KAP SRS"), is disclosed:

 NAME OF DIRECTOR                                       GN Chaplin                                         (1)
                                                        FH Olivier                                         (2)
                                                        SP Lunga                                           (3)
                                                        G Victor                                           (4)
                                                        W Killian                                          (5)
                                                        JN van Niekerk                                     (6)
                                                        WC Els                                             (7)

 COMPANY OF WHICH A DIRECTOR                            KAP Ltd                                          (1-3)
                                                        PG Bison (Pty) Ltd*                              (4-5)
                                                        Safripol (Pty) Ltd*                              (6-7)
                                                        * major subsidiary of the Company

 STATUS: EXECUTIVE/NON-EXECUTIVE                        Executive                                        (1-7)

 TYPE AND CLASS OF SECURITIES                           Options to acquire ordinary shares               (1-7)

 NATURE OF TRANSACTION                                  Acceptance of award of options to acquire
                                                        ordinary shares in terms of the KAP SRS
                                                        (off-market transaction)                         (1-7)

 DATE OF AWARD OF OPTIONS                               1 December 2023                                  (1-7)

 DATE OF ACCEPTANCE OF OPTIONS                          4 December 2023                                  (1-7)

 OPTION STRIKE PRICE                                    R0.20                                            (1-7)


 NUMBER OF OPTIONS GRANTED AND                          7 087 428                                         (1)
 ACCEPTED                                               4 477 160                                         (2)
                                                        2 413 665                                         (3)
                                                        2 413 665                                         (4)
                                                          878 821                                         (5)
                                                        2 413 665                                         (6)
                                                          872 304                                         (7)

 VESTING DATE OF OPTIONS                                The options will vest on the third anniversary
                                                        of the award date, subject to the achievement
                                                        of the relevant performance criteria             (1-7)
 NATURE AND EXTENT OF INTEREST IN THE                     Direct, beneficial                             (1-7)
 TRANSACTION



Notwithstanding the fact that the grant and acceptance of the options have taken place in terms of the rules of the
KAP SRS, clearance for the above was obtained in terms of paragraph 6.45 of the JSE Limited Debt Listings
Requirements.


Stellenbosch
4 December 2023

Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited

Date: 04-12-2023 10:01:00
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