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OCEANA GROUP LIMITED - Dealings in securities

Release Date: 24/06/2019 16:00
Code(s): OCE     PDF:  
 
Wrap Text
Dealings in securities

Oceana Group Limited
Incorporated in the Republic of South Africa
(Registration number 1939/001730/06)
JSE Share: OCE
NSX Share Code: OCG
ISIN Number: ZAE000025284
("Oceana")

OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALING IN SECURITIES

In accordance with paragraphs 3.63 – 3.74 of the Listings Requirements of JSE Limited (“the JSE”), shareholders
are advised that the following director has been awarded and accepted Performance Vesting Share Appreciation
Rights (“SARs”), Performance Vesting Shares (“PVS”) and Restricted Shares (“RS”) in terms of the Oceana Group
Limited (the Company) 2013 Share Plan.

SARs are allocated at an allocation price equal to the volume weighted average price of an Oceana Group share
on the JSE over the 30 trading days immediately prior to the Offer Date (“the Allocation Price”). Provided that the
performance criteria are met, one-third of the SARs allocation will vest on each of the third, fourth and fifth
anniversary dates of the Offer Date (in terms of the performance criteria, the number of SARs vesting in relation to
the full number allocated is progressively reduced if company financial performance targets are not met.

The Participant may elect to delay exercise of the SARs to some future date not exceeding the seventh anniversary
of the Offer Date. The value of the SARs which a Participant may exercise will be calculated with reference to the
difference between the volume weighted average price of an Oceana Group share on the JSE over the 30 trading
days immediately prior to the date on which a Participant exercises his SARs and the Allocation Price. In terms of
the rules of the Share Plan the Company, at its sole and absolute discretion, can decide to settle the SARs to the
Participant in Oceana Group shares or in cash. In respect of the SARs allocations disclosed below the Company
has decided to settle the SARs in cash.

PVS are conditionally awarded with the final number settled after three years from the Offer Date dependent on
the performance criteria set being met. The number of shares to be settled will range from 0% to 300% of the
conditional award. The determined number of PVS will be settled to the Participant in Oceana Group shares or in
cash, at the Company’s sole and absolute discretion.

RS is settled after three years from the Offer Date dependent on the participant still being in the employment of the
Company.


The SARS, PVS and RS offered may be summarised as follows:

Name                    Position                No of SARS             No of PVS               No of RS
                                                Allocated              Awarded                 Awarded

E Bosch                 Director                132 500                32 500                  22 500

The following are applicable to the above:

-   Class of underlying security to which the rights are attached      Oceana ordinary shares
-   SARs Allocation Price per share                                    R 72.11
-   PVS and RS Award Price per share                                   R nil (not applicable)
-   Nature of transaction                                              Off-market allocation and
                                                                       acceptance of SARs, PVS and RS
- SARS vesting period                                                  One-third of allocation on each of the third,
                                                                       fourth and fifth anniversary dates of the Offer
                                                                       Date
- PVS and RS vesting period                                            Third anniversary of the Offer Date
- Nature of interest                                                   Direct beneficial


In accordance with section 3.66 of the Listings Requirements the necessary clearance was obtained to offer the
abovementioned SARS, PVS and RS.


24 June 2019
Cape Town

Sponsor
The Standard Bank of South Africa Limited

Namibian Sponsor
Old Mutual Investment Services (Namibia) Proprietary Limited

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