Amendment to the awards accepted by the the Group Chief Executive Officer
Alexander Forbes Group Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/025226/06)
Share Code: AFH
(“the Company” or “Alexander Forbes” or “the Group”)
AMENDMENT TO THE AWARDS ACCEPTED BY THE THE GROUP CHIEF EXECUTIVE OFFICER
Shareholders are referred to the announcement released on the Stock Exchange News Service
(“SENS”) on 18 December 2018, in which they were advised of the acceptance of awards by the
Group Chief Executive Officer (“CEO”) in accordance with the Company’s long-term incentive
plans namely, the group executive share plan (“the GEC Awards”) and the forfeitable share plan
(“the Forfeitable Awards”).
Pursuant to the revised Company strategy, as announced on SENS on 26 March 2019,
shareholders are now advised that the performance conditions and vesting date applicable to the
GEC Awards accepted by the Group CEO have been amended. The Remuneration Committee
has approved the revised performance conditions as well as the amended vesting date to better
align with the revised Company strategy. The revised performance conditions will be detailed in the
Company’s remuneration report forming part of the Company’s annual integrated report.
There have been no changes to the Forteitable Awards accepted by the Group CEO.
The disclosure contained in the announcement on SENS on 18 December 2018 is accordingly
updated as follows:
Group CEO : DJ de Villiers
Company : Alexander Forbes
Date of acceptance : 13 December 2018
Nature of transaction : Off market acceptance of GEC Awards
Class of securities : Conditional awards in respect of ordinary shares
Number awarded : 1 950 810
Grant price : Based on 3-day VWAP (R5.15)
Transaction value : R10 046 671.50
Nature of interest : Direct beneficial
Vesting date : Originally 1 November 2022, extended to the date on
which the Company’s annual financial results for the
period ending 31 March 2023 are published.
Executive: Governance, Legal & Compliance
27 March 2019
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27/03/2019 11:46:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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