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)
Share Code: DST
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
(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
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
- 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.
17 November 2017
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/11/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.