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AFRIMAT LIMITED - Allocation of Forfeitable Shares

Release Date: 25/02/2019 14:45
Code(s): AFT     PDF:  
Wrap Text
Allocation of Forfeitable Shares

Afrimat Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT ISIN: ZAE000086302
(“Afrimat” or “the Company”)


In compliance with paragraphs 3.63 of the Listings Requirements of the JSE Limited, the following
award of forfeitable shares in terms of the company’s Forfeitable Share Plan (‘FSP’) should be noted:

Name of Director:                                        Andries J van Heerden
Designation:                                             Chief Executive Officer (‘CEO’)
Number of forfeitable shares awarded:                    105 200
Price at which shares were awarded (Award date):         R28.50
Value:                                                   R2 998 200
Date award approved:                                     Approved     by   the   board   of   directors    on
                                                         20 February 2019
Effective date of award:                                 25 February 2019
Acceptance of award:                                     25 February 2019
Vesting:                                                 25 February 2022
Nature of type of transaction:                           Direct beneficial off-market
Clearance obtained:                                      Yes

The CEO’s overall performance qualifies him for the allocation of forfeitable shares in terms of the
company’s FSP.

The restricted share award vests after a period of three years. The award will be forfeited if the
participant leaves employment during the restricted period (except if the participant is a ‘good leaver’
under the scheme rules). Participants earn dividends on shares awarded under the FSP.

By order of the board of directors
Cape Town
25 February 2019

Sponsor: Bridge Capital Advisors Proprietary Limited

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