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Dealing in securities pursuant to Long-Term Share Incentive (“LTI”) Schemes
Spur Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share code: SUR
ISIN: ZAE 000022653
("Spur Corporation" or "the Company")
DEALING IN SECURITIES PURSUANT TO LONG-TERM SHARE INCENTIVE ("LTI") SCHEMES
Shareholders are referred to the details of the Company's LTI schemes in operation for the Company's financial
year ending 30 June 2026, as included in the Company's remuneration report (forming part of the integrated
annual report for the year ended 30 June 2025, published on 30 October 2025) ("F25 Rem Report").
1. Performance Conditional Shares ("PCSs") granted in accordance with the Restricted Share Plan
("RSP") 2020 Scheme
In compliance with the requirements of paragraphs 6.77 to 6.80 of the JSE Limited Listings Requirements, details
of the following grants and acceptances of PCSs to executive directors of the Company ("Executive Directors")
and the Company Secretary, which were awarded in terms of the RSP 2020 Scheme on 26 February 2026
("Award Date"), should be noted:
Name of Executive Director: Valentine ("Val") Nichas
Designation: Chief Executive Officer
Nature of dealing: Acceptance of PCSs
Number of PCSs awarded: 124 643 (On-target vesting)
Maximum number of PCSs that may vest: 186 964
Grant-date fair value of PCS (per share): R31.68
Grant-date value of transaction (On-target vesting): R3 948 690
Grant-date value of transaction (Maximum vesting): R5 923 020
On market/off market: Off market
Prior permission to deal: Obtained
Vesting Date: 13 November 2028
Release Date: 13 November 2030
Nature of interest: Direct beneficial
Name of Executive Director: Cristina Teixeira
Designation: Chief Financial Officer
Nature of dealing: Acceptance of PCSs
Number of PCSs awarded: 64 419 (On-target vesting)
Maximum number of PCSs that may vest: 96 629
Grant-date fair value of PCS (per share): R31.68
Grant-date value of transaction (On-target vesting): R2 040 794
Grant-date value of transaction (Maximum vesting): R3 061 207
On market/off market: Off market
Prior permission to deal: Obtained
Vesting Date: 13 November 2028
Release Date: 13 November 2030
Nature of interest: Direct beneficial
Name of Executive Director: Kevin Robertson
Designation: Chief Operations Officer
Nature of dealing: Acceptance of PCSs
Number of PCSs awarded: 54 931 (On-target vesting)
Maximum number of PCSs that may vest: 82 396
Grant-date fair value of PCS (per share): R31.68
Grant-date value of transaction (On-target vesting): R1 740 214
Grant-date value of transaction (Maximum vesting): R2 610 305
On market/off market: Off market
Prior permission to deal: Obtained
Vesting Date: 13 November 2028
Release Date: 13 November 2030
Nature of interest: Direct beneficial
Name of Executive Director: Vuyokazi ("Vuyo") Henda
Designation: Chief Marketing Officer
Nature of dealing: Acceptance of PCSs
Number of PCSs awarded: 33 734 (On-target vesting)
Maximum number of PCSs that may vest: 50 601
Grant-date fair value of PCS (per share): R31.68
Grant-date value of transaction (On-target vesting): R1 068 693
Grant-date value of transaction (Maximum vesting): R1 603 040
On market/off market: Off market
Prior permission to deal: Obtained
Vesting Date: 13 November 2028
Release Date: 13 November 2030
Nature of interest: Direct beneficial
Name: Donfrey Meyer
Designation: Company Secretary
Nature of dealing: Acceptance of PCSs
Number of PCSs awarded: 3 513 (On-target vesting)
Maximum number of PCSs that may vest: 5 270
Grant-date fair value of PCS (per share): R33.34
Grant-date value of transaction (On-target vesting): R117 123
Grant-date value of transaction (Maximum vesting): R175 702
On market/off market: Off market
Prior permission to deal: Obtained
Vesting Date: 13 November 2028
Release Date: 13 November 2028
Nature of interest: Direct beneficial
Operation of PCS and Performance Conditions
Each PCS represents a right to a single fully paid-for Spur Corporation share on the Vesting Date, subject to the
meeting of financial, environment and social performance conditions during the performance period. The
performance period is from 1 July 2025 to 30 June 2028.
Once the shares have been settled, the participant will enjoy full direct beneficial ownership of the shares, save
to the extent that the Executive Directors will be contractually bound to retain ownership of the shares for a two-
year period until the Release Date. Following the Release Date, the Executive Directors will be free to trade in
the shares.
In accordance with the Company's Malus and Clawback Policy, Malus provisions will apply to the PCSs prior to
the Vesting/Settlement Date and Clawback provisions will apply to the resulting shares for a period of three years
following the Vesting/Settlement Date.
2. Bonus Matching Forfeitable Shares ("BMFSs") granted in accordance with the RSP 2020 Scheme
The Executive Directors and Company Secretary will participate in the Company's short-term incentive scheme
("STI") for the financial year ending 30 June 2026, further details of which are included in the F25 Rem Report.
The value of BMFSs that may be awarded, assuming an on-target performance bonus is payable in accordance
with the STI rules and subject to certain performance criteria including both personal and group financial
performance hurdles, per Executive Director and the Company Secretary is as follows:
Val Nichas (Executive Director): R549 901
Cristina Teixeira (Executive Director): R454 728
Kevin Robertson (Executive Director): R387 751
Vuyo Henda (Executive Director): R238 123
Donfrey Meyer (Company Secretary): R124 000
The annual performance bonus payable in terms of the STI in respect of the financial year ending 30 June 2026,
and therefore the value and number of BMFSs awarded, will only be determined subsequent to the publication
of the group's financial results for the year ending 30 June 2026 which is anticipated to be in August 2026. The
final allocation and transfer of the BMFSs are therefore anticipated to take place, and details thereof published
on SENS, in September 2026.
Cape Town
5 March 2026
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 05-03-2026 02:27:00
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