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ALLIED ELECTRONICS CORPORATION LIMITED - Dealing in securities by a director - Allocation of Share Appreciation Rights in terms of the Altron 2009 Share Plan

Release Date: 30/08/2019 10:45
Code(s): AEL     PDF:  
 
Wrap Text
Dealing in securities by a director - Allocation of Share Appreciation Rights in terms of the Altron 2009 Share Plan

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

DEALING IN SECURITIES BY A DIRECTOR: ALLOCATION OF SHARE APPRECIATION
RIGHTS IN TERMS OF THE ALTRON 2009 SHARE PLAN

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

Name of director:                                    M Nyati
Designation:                                         Chief Executive
Name of company:                                     Altron

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

Mr Nyati has been awarded 175 622 off-market allocation of SARs at an allocation price of
R23.70 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 August 2022, August 2023 and
August 2024.

Allocation and acceptance date for above             29 August 2019
transaction:
Nature of interest for above transaction:            Direct beneficial
Clearance to deal obtained:                          Yes


Johannesburg
30 August 2019


Sponsor
Investec Bank Limited

Date: 30/08/2019 10:45:00
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