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DISTELL GROUP LIMITED - Offer to and acceptance of shares by directors and company secretary

Release Date: 17/11/2017 09:00
Code(s): DST     PDF:  
 
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Offer to and acceptance of shares by directors and company secretary

DISTELL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1988/005808/06)
ISIN: ZAE000028668
Share Code: DST
(“Distell”)

OFFER TO AND ACCEPTANCE OF SHARES BY DIRECTORS AND COMPANY SECRETARY

Executive directors and the company secretary of Distell have
accepted shares under the Conditional Share Plan (CSP) Scheme in
respect of Distell ordinary shares at a grant price of R128.69 per
share, which is based on the 30-day volume weighted average price
of a share on 08 November 2017.
               
                      NUMBER      DATE OF        VALUE OF         NATURE OF
DIRECTOR              OF SHARES   ACCEPTANCE     TRANSACTION      INTEREST                                                                   
RM Rushton            317 304     15 Nov 2017    R40 833 851.76   Direct beneficial                                                                                                    
LC Verwey             190 755     13 Nov 2017    R24 548 260.95   Direct beneficial
L Malan
(Company Secretary)   30 372      16 Nov 2017    R3 908 572.68    Direct beneficial

The purpose of the CSP Scheme is to incentivise, motivate and retain
the appropriate caliber of employees by awarding employees with
shares as remuneration and the opportunity to share in the success
of Distell through the award of Performance CSP shares and/or
Retention CSP shares and/or Bonus CSP shares.

The vesting of the shares will be subject to the satisfaction of
the Performance Conditions, the Employment    Condition and the
Remaining Conditions (if any) set by the Remuneration Committee.
The Performance Conditions comprise financial measures which
include revenue growth, EBITDA growth and Return on Invested
Capital.

On condition that all vesting conditions have been met, the shares
will vest as follows:
 -   up to one third on or after the third anniversary of the date
     of grant;
 -   up to two thirds on or after the fourth anniversary of the
     date of grant;
 -   all of the shares will vest on or after the fifth anniversary
     of the date of grant.

Clearance for the above transactions has been obtained, and all
transactions were completed off market.

Stellenbosch
17 November 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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