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MPACT LIMITED - Acceptance of performance share awards to directors and prescribed officers

Release Date: 08/04/2019 15:45
Code(s): MPT     PDF:  
 
Wrap Text
Acceptance of performance share awards to directors and prescribed officers

Mpact Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/025229/06)
JSE share code: MPT ISIN: ZAE000156501
("Mpact" or "the Company")

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:

ACCEPTANCE OF PERFORMANCE SHARE AWARDS TO DIRECTORS AND PRESCRIBED OFFICERS

DIRECTORS OF MPACT LIMITED
Name                            :   BW Strong
Office held                     :   Chief Executive Officer
Company                         :   Mpact Limited
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   314,862
Award price*                    :   R23.45
Total value of award            :   R7,383,513.90
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

Name                            :   BDV Clark
Office held                     :   Chief Financial Officer
Company                         :   Mpact Limited
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   179,505
Award price*                    :   R23.45
Total value of award            :   R4,209,392.25
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

DIRECTORS OF MAJOR SUBSIDIARY
Name                            :   HM Thompson
Office held                     :   Managing Director - Paper Manufacturing
                                    Division
Company                         :   Mpact Operations (Pty) Ltd
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   193,924
Award price*                    :   R23.45
Total value of award            :   R4,547,517.80
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

Name                            :   N Naidoo
Office held                     :   Managing Director - Plastics Division
Company                         :   Mpact Operations (Pty) Ltd
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   152,190
Award price*                    :   R23.45
Total value of award            :   R3,568,855.50
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

PRESCRIBED OFFICERS
Name                            :   JW Hunt
Office held                     :   Managing Director
Company                         :   Mpact Recycling (Pty) Ltd
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   124,412
Award price*                    :   R23.45
Total value of award            :   R2,917,461.40
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

Name                            :   J Stumpf
Office held                     :   Managing Director - Corrugated Division
Company                         :   Mpact Operations (Pty) Ltd
Date of acceptance              :   5 April 2019
Nature of transaction           :   Off-market acceptance of conditional
                                    performance share awards vesting in March
                                    2022 subject to the achievement of agreed
                                    targets
Class of securities             :   Ordinary shares
Number of performance shares    :   178,159
Award price*                    :   R23.45
Total value of award            :   R4,177,828.55
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

Note:
  1. Prescribed officers are defined as having general executive control
     over and management of a significant portion of the Company or
     regularly participate therein to a material degree.
  *  Award price is calculated on a 15-trading day VWAP starting from 14
     March 2019 to 4 April 2019.

Melrose Arch
8 April 2019

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

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