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ALLIED ELECTRONICS CORPORATION LIMITED - Dealings in securities by a director and allocation of Share Appreciation Rights

Release Date: 21/05/2019 13:00
Code(s): AEL     PDF:  
 
Wrap Text
Dealings in securities by a director and allocation of Share Appreciation Rights

Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “the Company”)

DEALING IN SECURITIES BY A DIRECTOR AND ALLOCATION OF SHARE
APPRECIATION RIGHTS (SARs) IN TERMS OF THE ALTRON 2009 SHARE PLAN


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

Director                                             Mr C Miller
Designation                                          Chief Financial Officer
Company                                              Altron

Dealing in securities:

Date of transaction                                  17 May 2019
Number of securities                                 161 138
Nature of transaction                                On-market purchase of securities
Class of securities                                  Altron A ordinary shares
Share price                                          R22.85
Value of transaction                                 R3 682 003.30
Nature of interest                                   Direct beneficial
Clearance to deal obtained                           Yes

Allocation of share appreciation rights (SARs) in terms of The Altron 2009 Share Plan:

Mr Miller has been awarded 1 300 000 off-market allocation of SARs at an allocation price of
R22.85 in accordance with the rules of The Altron 2009 Share Plan. The SARs are conditional
on, inter alia, share price growth and the fulfilment of performance criteria, as imposed by the
Altron Board. Subject to performance, vesting will occur in May 2022, May 2023 and May 2024.

Allocation and acceptance date for above             20 May 2019
transaction
Nature of interest for above transactions            Direct beneficial
Clearance to deal obtained                           Yes


Johannesburg
21 May 2019


Sponsor
Investec Bank Limited

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