To view the PDF file, sign up for a MySharenet subscription.

Steinhoff International Holdings Limited - Dealing In Securities By Directors

Release Date: 04/05/2004 16:35
Code(s): SHF
Wrap Text

Steinhoff International Holdings Limited - Dealing In Securities By Directors STEINHOFF INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/003951/06) ("Steinhoff") Share code: SHF ISIN: ZAE000016176 DEALING IN SECURITIES BY DIRECTORS Incentive Scheme The Board of Steinhoff International Holdings Limited ("the Company" or "SIL") herewith and pursuant to all formalities having been completed, which included the approval in general meeting of shareholders on 1 December 2003, and with approvals by the Board and Human Resources and Remuneration Committee, wish to announce that: 1. incentives relating to 18,903,653 shares have been granted in terms of the new Share Incentive Scheme to 20 participants, at effectively a nominal value of 0,5 (half) cent per share; 2. the effective date for the granting of the rights is 1 December 2003 ("the effective date") and the incentives will mature in 1/3 (one third) tranches per annum from the third anniversary of the effective date, provided the following performance criteria have been achieved: 2.1 a compound growth in headline earnings per share ("HEPS") equal to or exceeding the average growth of companies included in, and comprising the INDI 25 Index ("INDI 25") over a three-year period from the effective date; and 2.2 the volume weighted average traded share price of the Company over the 30 trading days immediately preceding the date of measurement ("the measurement date") to exceed the results of the following formula: (((a - b) b) + 1) x c where a = the INDI 25 at the measurement date; b = the INDI 25 at the effective date; and c = the share price of Steinhoff based on the (30 day) volume weighted average share price at the effective date. In the event of the criteria not being satisfied by the 3rd anniversary of the effective date, the rights will be extended to the following years on a cumulative basis, provided that if the criteria are not met by the end of the financial year in which the 5th anniversary of the effective date falls, all rights will lapse and no shares will be issued nor any amounts be due to any participant. In terms of Paragraph 3.63 of the Listings Requirements of the JSE Securities Exchange South Africa ("JSE") ("the Listings Requirements"), the Board wishes to inform shareholders of the incentives granted to the following officers: MJ Jooste Chief Executive in 4,586,758 Officer, respect shares of:
FJ Nel Finance in 752,725 Director, respect shares of: DM van der Executive in 1,902,588 Merwe Director, respect shares of: JHN van der Chief Financial in 2,195,091 Merwe Office, respect shares of: SJ Grobler Company in 807,519 Secretary, respect shares of:
ST Schmidt Director, in 619,212 subsidiary* respect shares of: (* material subsidiary as defined in terms of Paragraph 3.35 of the Listings Requirements) DEALING IN SECURITIES (a) Share Transfers The Board has also been informed that certain of the shareholders which had acted as Vendors at the time of listing of the Company on 23 September 1998 had reserved shares for investment by or on behalf of certain members of management. These shareholders, pursuant to discretionary arrangements, have informed the Board on 30 April 2004 of the transfer of 3,269,629 shares at 675 cents per share to the relevant transferees. In terms of Paragraph 3.63 of the Listings Requirements, shareholders are informed of the following transfers which have been effected, and which shares are held indirectly and non-beneficially: MJ Jooste Chief Executive in respect 1,688,242 Officer, of: shares FJ Nel Finance in respect 527,129 Director, of: shares
DM van der Executive in respect 527,129 Merwe Director, of: shares JHN van der Chief Financial in respect 527,129 Merwe Office, of: shares (b) Share Purchase It is further announced, in terms of Paragraph 3.63 of the Listings Requirements, that a consortium of members of executive management has indirectly beneficially purchased on 30 April 2004 by private purchase 33,458 million shares in the Company for a consideration of 881 cents per share as follows:- BE Steinhoff Executive in respect 9,125,000 Chairman, of: shares
MJ Jooste Chief Executive in respect 9,125,000 Officer, of: shares FJ Nel Finance in respect 3,041,000 Director, of: shares
DM van der Executive in respect 4,708,750 Merwe Director, of: shares JHN van der Chief Financial in respect 4,416,250 Merwe Office, of: shares SJ Grobler Company in respect 3,042,000 Secretary, of: shares Clearance had been granted in respect of the abovementioned transactions. By order of the Board SJ GROBLER COMPANY SECRETARY 4 May 2004 Sponsor: PSG CAPITAL LIMITED Date: 04/05/2004 04:35:15 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

Share This Story