Wrap Text
Acceptance of Annual Awards of Shares in Terms of the Deferred Portion of the SIP and OPSI Schemes
DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
Legal Entity Identifier: 378900245A26169C8132
JSE share code: DSY, DSBP
DSY ISIN: ZAE000022331
DSBP ISIN: ZAE000158564
Bond company code: DSYI
(the "Group" or "Discovery" or the "Company")
ACCEPTANCE OF ANNUAL AWARDS OF SHARES IN TERMS OF THE DEFERRED PORTION OF THE SINGLE INCENTIVE
PLAN ("SIP") AND OUTPERFORMANCE SINGLE INCENTIVE ("OPSI") SCHEMES
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements and paragraphs 6.45 to 6.56 of
the Debt and Specialist Securities Listings Requirements respectively, notification is hereby given that certain
executive directors, the Group company secretary and a prescribed officer of the Company and directors of major
subsidiaries have accepted annual awards of ordinary shares allocated in terms of the deferred portion of the SIP
through the Discovery Long-Term Incentive Plan Trust ("LTIP Trust"). In addition, certain awards of ordinary shares
have been allocated and accepted in terms of OPSI schemes.
The deferred portion of the SIP has been awarded based on the performance criteria as per the SIP for the year ended
30 June 2025. Key executives who are directly accountable for the growth, profitability and scaling of established and
new businesses participate in OPSI schemes specific for their business units. OPSI stretch targets have been
established in line with the Group's long-term strategy. The share awards of the deferred portion of the SIP and OPSI
are subject to continued employment conditions and will be settled in equity held on behalf of participants by the
LTIP Trust. For certain OPSI awards, vesting is also subject to additional performance conditions.
The nature of the interest in respect of each of these awards is indirect beneficial. The transactions have occurred
off-market and the necessary clearances have been obtained. The details are set out below:
Executive Director Number of Acceptance dates Reference Price* (all Deemed Transaction
shares accepted figures in R) Value (all figures in R)
A Gore 68,348 26 November 2025 194.10 13,266,346.80
B Swartzberg 75,552 (Note 1) 25 November 2025 194.10 14,664,643.20
DM Viljoen 54,260 26 November 2025 194.10 10,531,866.00
Note 1: Includes award in respect of Vitality Global Outperformance Plan. This award vests equally from the 3 rd to the 5th
anniversaries of this award and is subject to performance conditions.
Executive directors' share awards vest equally from the 3rd to the 5th anniversaries of these awards (between 30
September 2028 and 30 September 2030).
Prescribed officer, Number of Company Acceptance dates Reference Deemed
directors of major shares accepted Price* (all Transaction
subsidiaries and Group figures in R) Value (all
Company Secretary figures in R)
HD Kallner 132,672 (Note 2) Discovery Limited 25 November 2025 194.10 25,751,635.20
(prescribed officer)
F Chothia 21,280 Discovery Health 25 November 2025 194.10 4,130,448.00
Proprietary Limited
("Discovery Health")
A Ntsaluba 35,501 Discovery Health 25 November 2025 194.10 6,890,744.10
N Pitje 43,609 Discovery Health 25 November 2025 194.10 8,464,506.90
and Discovery Life
Limited ("Discovery
Life")
RM Whelan 48,700 Discovery Health 26 November 2025 194.10 9,452,670.00
SA Cohen 16,195 Discovery Life 25 November 2025 194.10 3,143,449.50
KS Rabson 53,309 Discovery Life 25 November 2025 194.10 10,347,276.90
RJ Van Reenen 28,101 Discovery Life 25 November 2025 194.10 5,454,404.10
AC Ceba 8,626 Discovery Limited 26 November 2025 194.10 1,674,306.60
(Group Company
Secretary)
Note2: Includes award in respect of OPSI scheme (the on-target value of the deferred portion of the SIP was reduced with a
concomitant increase in the reward for stretch performance).
The prescribed officer, directors of major subsidiaries and the Group Company Secretary's share awards vest equally
from the 1st to the 3rd anniversaries of these awards (between 30 September 2026 and 30 September 2028).
* Consistent with the scheme rules and prior years, the reference price used in determining the share allocations is
the volume weighted average traded price of the Company's shares for the 5 days ended 30 September 2025.
Sandton
28 November 2025
Equity and Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 28-11-2025 02:55:00
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