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AVI LIMITED - Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary

Release Date: 25/06/2019 12:51
Code(s): AVI     PDF:  
 
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Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary

AVI Limited
Incorporated in the Republic of South Africa
Registration Number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI”)

ACCEPTANCE OF SHARE APPRECIATION RIGHTS (“SARs”) BY AVI DIRECTORS AND
DIRECTORS OF A MAJOR SUBSIDIARY

In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements
of the JSE Limited, the following information is disclosed:

Director                     :   Simon Crutchley
Company                      :   AVI
Date of transaction          :   24 June 2019
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   261 227
SARs allocation price        :   R89.27
Total value of transaction   :   R23 319 734.29
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   Michael Koursaris
Company                      :   AVI
Date of transaction          :   24 June 2019
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   94 975
SARs allocation price        :   R89.27
Total value of transaction   :   R8 478 418.25
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   Keith Phillips
Company                      :   National Brands Limited
Date of transaction          :   24 June 2019
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   34 781
SARs allocation price        :   R89.27
Total value of transaction   :   R3 104 899.87
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   David Hood
Company                      :   National Brands Limited
Date of transaction          :   24 June 2019
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   94 348
SARs allocation price        :   R89.27
Total value of transaction   :   R8 422 445.96
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Illovo
25 June 2019

Sponsor
The Standard Bank of South Africa Limited

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