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AFRIMAT LIMITED - Allocation of Forfeitable Shares

Release Date: 06/11/2019 09:45
Code(s): AFT     PDF:  
Wrap Text
Allocation of Forfeitable Shares

Afrimat Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT ISIN: ZAE000086302
(“Afrimat” or “the Company”)


ALLOCATION OF FORFEITABLE SHARES


In compliance with paragraphs 3.63 of the Listings Requirements of the JSE Limited, the following
awards of forfeitable shares in terms of the company’s Forfeitable Share Plan (‘FSP’) should be noted:


Name of Director:                                      Pieter GS de Wit
Designation:                                           Chief Financial Officer (‘CFO’) : Afrimat Limited
Number of forfeitable shares awarded:                  68 000
Price at which shares were awarded (Award date):       R32.35
Value:                                                 R2 199 800
Date award approved:                                   Approved     by    the   board   of   directors   on
                                                       30 October 2019
Effective date of award:                               30 October 2019
Acceptance of award:                                   5 November 2019
Vesting:                                               30 October 2022
Nature of type of transaction:                         Direct beneficial off-market
Clearance obtained:                                    Yes


Name of Director:                                      Collin Ramukhubathi
Designation:                                           Director : Afrimat Limited and Major Subsidiary:
                                                       Afrimat Demaneng Proprietary Limited
Number of forfeitable shares awarded:                  68 000
Price at which shares were awarded (Award date):       R32.35
Value:                                                 R2 199 800
Date award approved:                                   Approved     by    the   board   of   directors   on
                                                       30 October 2019
Effective date of award:                               30 October 2019
Acceptance of award:                                   5 November 2019
Vesting:                                               30 October 2022
Nature of type of transaction:                         Direct beneficial off-market
Clearance obtained:                                    Yes
The participants’ overall performance qualifies them for the allocation of forfeitable shares in terms of
the Company’s FSP.


The restricted share award vests after a period of three years. The award will be forfeited if the
participant leaves employment during the restricted period (except if the participant is a ‘good leaver’
under the scheme rules). Participants earn dividends on shares awarded under the FSP.




By order of the board of directors
Cape Town
6 November 2019


Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 06/11/2019 09:45:00
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