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PICK N PAY STORES LIMITED - Dealing in securities by directors

Release Date: 30/11/2018 14:00
Code(s): PIK     PDF:  
Wrap Text
Dealing in securities by directors

Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK
ISIN code: ZAE000005443

PICK N PAY STORES LIMITED - DEALING IN SECURITIES BY DIRECTORS

1. Pick n Pay Stores Limited Forfeitable Share Plan

Dealing in securities by executive directors and company secretary: award of forfeitable
shares in terms of the Pick n Pay Stores Limited Forfeitable Share Plan, which was
approved by shareholders at the General Meeting held on 12 February 2014. The
forfeitable shares are issued at nil cost and may vest, subject to performance conditions
being met over three financial years. The performance conditions are linked to the growth
in headline earnings per share.

In compliance with rule 3.63 of the JSE Listings Requirements, the following information
is disclosed:

 Name of director:                         RWP Brasher
 Designation:                              Chief Executive Officer
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             1 000 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


 Name of director:                         RSJ van Rensburg
 Designation:                              Chief Information Officer
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             30 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


 Name of director:                         A Jakoet
 Designation:                              Chief Finance Officer
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             30 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes
 Name of director:                         SD Ackerman-Berman
 Designation:                              Director: Transformation
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             15 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


 Name of director:                         JG Ackerman
 Designation:                              Director: Customer Services
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             8 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


 Name of company secretary:                DE Muller
 Designation:                              Company Secretary
 Name of company:                          Pick n Pay Stores Limited
 Number of forfeitable shares:             20 000
 Acceptance of award:                      29 November 2018
 Date of vesting:                          25 June 2021
 Nature of transaction:                    Off-market allocation of forfeitable shares
 Nature of interest:                       Direct beneficial
 Clearance obtained:                       Yes


2. Vesting of share options and binary share options: Director

Executive director, RWP Brasher, was granted share options as detailed below that
subsequently vested in terms of the Pick n Pay Employee Share Incentive Scheme.
These share options were exercised on 29 November 2018 at the strike price disclosed.

 Director                              :   RWP Brasher
 Company                               :   Pick n Pay Stores Limited
 Date of transaction                   :   29 November 2018
 Nature of transaction                 :   Off market exercise of share options
 Class of security                     :   Ordinary
 Number of share options exercised     :   1 000 000
 Grant date                            :   14 November 2012
 Vesting date                          :   14 November 2017
 Grant price                           :   R42.24
 Share price on exercise date          :   R74.05

 Number of shares taken up and sold    :   429 575 (net-settled) – off market
 Net value of transaction              :   R31 810 000.00
 Nature of interest                    :   Direct beneficial
 Clearance obtained                    :   Yes
Executive director, RWP Brasher, was granted binary share options as detailed below.
The 20-day VWAP up to and including 14 November 2018 was R69.18. The eligibility
hurdle of R68.03 was thus met and the binary share options vested. The binary share
options were exercised on 29 November 2018 at the strike price disclosed.

 Director                              :   RWP Brasher
 Company                               :   Pick n Pay Stores Limited
 Date of transaction                   :   29 November 2018
 Nature of transaction                 :   Off market exercise of binary share options
 Class of security                     :   Ordinary
 Number of share options exercised     :   1 000 000
 Grant date                            :   14 November 2012
 Vesting date                          :   14 November 2018
 Grant price                           :   R42.24
 Share price on exercise date          :   R74.05
 Net Value of transaction              :   R31 810 000.00
 Number of shares taken up and sold    :   429 575 (net-settled) – off market
 Nature of interest                    :   Direct beneficial
 Clearance obtained                    :   Yes


 Company                               :   Pick n Pay Employee Share Purchase Trust
 Date of transaction                   :   29 November 2018
 Nature of transaction                 :   Off market purchase of shares
 Class of security                     :   Ordinary
 Number of shares purchased            :   859 150
 Price per share                       :   R74.05
 Value of transaction                  :   R63 620 057.50
 Nature of interest                    :   Direct beneficial
 Clearance obtained                    :   Yes


By order of the board
Cape Town
30 November 2018

Sponsor:

Investec Bank Limited

Date: 30/11/2018 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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