Wrap Text
Directors Dealings in Securities
Lewis Group Limited
Registration Number: 2004/009817/06
Share Code: LEW
ISIN Code: ZAE 000058236
Bond Code: LEWI
("Lewis" or "the Company")
Directors Dealings in Securities
In compliance with paragraphs 3.63 to 3.74 of the JSE Listings Requirements, the
following should be noted:
1. Short Term Awards – Lewis Executive Performance Schemes
In terms of the Lewis 2021 Executive Performance Scheme and the Lewis 2023
Executive Performance Scheme, executives have been offered the right to acquire
shares of the Company, for no consideration, subject to the achievement of
performance targets. The share awards under this scheme will lapse, should the
executive terminate his or her employment before the completion of the period of the
award, other than in the event of death, ill-health, retirement or retrenchment.
The Lewis Remuneration Committee ("Committee") have agreed to grant the executives
a three-year award (short term award as defined in the various scheme rules) under this
scheme, details which are set out below.
The performance targets are set by the Committee at the beginning of each of the
three years and are based on a weighting set for each executive depending on their
daily employment responsibilities, of the following:
- Headline earnings per share;
- Quality of the debtors book; and
- Gross margin.
The following executive directors have been granted awards on 10 June 2025 under
the Lewis 2021 Executive Performance Scheme and the Lewis 2023 Executive
Performance Schemes:
Maximum No. Implied
Executive Designation of shares for Value
no
consideration
J. Enslin Executive Director, Lewis Group Ltd 210,127 R 17,430,000
J. Bestbier Executive Director, Lewis Group Ltd 83,725 R 6,945,000
W. Achmat Director, Lewis Stores (Pty) Ltd 44,123 R 3,660,000
D.M. Oliphant Director, Lewis Stores (Pty) Ltd 47,498 R 3,940,000
The above values are implied based on a market price of R82.95, determined as an
average of the last three trading day's closing price before the award date calculated in
terms of the rules of the scheme.
2. Long term Awards – Lewis Executive Performance Schemes
In terms of the Lewis 2021 Executive Performance Scheme and the Lewis 2023
Executive Performance Scheme, executives have been offered the right to acquire
shares of the Company for no consideration, subject to the achievement of
performance targets. The share awards under this scheme will lapse should the
executive terminate his or her employment before the completion of the period of the
award, other than in the event of death, ill-health, retirement or retrenchment.
The Committee agreed to grant the executives a five-year award (long term award as
defined in the scheme rules) under this scheme, details which are set out below.
As required by the scheme rules, the performance target for long term awards are set at
the grant date for the whole period of the award. The five-year award has three vesting
dates being: the third anniversary of the grant (10 June 2028), the fourth anniversary (10
June 2029) and the fifth anniversary (10 June 2030). One third of the award shall vest
at each vesting date, subject to the performance targets below.
The performance targets are based on weightings of the following:
- Return on average shareholder's equity ("ROE"), weighted at 40%;
- Headline earnings per share ("HEPS"), weighted at 25%; and
- Gearing ratio, weighted at 35%.
The performance targets at each vesting date are as follows:
Measure Third Fourth Fifth anniversary
anniversary anniversary
ROE 16.1% 16.9% 17.5%
HEPS (cents) 1 927 2 184 2 443
Gearing ratio 50% 50% 50%
The following executive directors have been granted long-term awards on 10 June 2025
under the Lewis 2021 Executive Performance Scheme and Lewis 2023 Executive
Performance Scheme:
Maximum Number of Implied
Executive Designation Shares (for no Value
consideration)
J Enslin Executive Director,
Lewis Group Ltd 210,127 R 17,430,000
J. Bestbier Executive Director,
Lewis Group Ltd 66,980 R 5,556,000
W. Achmat Director, Lewis Stores
(Pty) Ltd 44,123 R 3,660,000
D.M. Oliphant Director, Lewis Stores
(Pty) Ltd 47,498 R 3,940,000
The above values are implied values based on a market price of R82.95, determined as
an average of the last three trading day's closing price before the award date, calculated
in terms of the rules of the scheme.
All the transactions as set out in 1 to 2 above were for the direct benefit of the directors.
The requisite clearances have been obtained.
Cape Town
13 June 2025
Sponsor: The Standard Bank of South Africa Limited
Debt Sponsor: Absa Bank Limited, acting through its Corporate and Investment Banking
Division
Date: 13-06-2025 03:29:00
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