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ARCELORMITTAL SOUTH AFRICA LIMITED - ACL - Vesting and settlement: Ikageng Broad-Based Employee Share Scheme

Release Date: 20/04/2021 16:45
Code(s): ACL     PDF:  
Wrap Text
ACL - Vesting and settlement: Ikageng Broad-Based Employee Share Scheme

ARCELORMITTAL SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1989/002164/06)
Share code: ACL
ISIN: ZAE000134961
(“ArcelorMittal South Africa” or “the Company")

VESTING AND SETTLEMENT: IKAGENG BROAD-BASED EMPLOYEE SHARE
SCHEME (“IKAGENG SHARE SCHEME”)

The Ikageng Share Scheme was implemented through the sale of Treasury Shares to
the Ikageng Broad -Based Employee Share Trust (Ikageng Trust) and was approved
by Shareholders on 18 September 2015. The Ikageng Share Scheme was created in
line with the Broad -Based Black Economic Empowerment ( B-BBEE ) Act in order to
facilitate transformation and empowerment by creating meaningful wealth for all
employees of ArcelorMittal South Africa, subject to the condition that a minimum of
60% of the economic benefits of the Ikageng Share Scheme must accrue to black
persons (as such term is understood in the B-BBEE Act, as read with the Codes).

The Ikageng Share Scheme has a vesting period of 5 years after the date of the grant.
The settlement method in terms of the Ikageng Share Scheme Rules is the delivery of
the ordinary shares (“Ikageng shares”) to participants, unless participants opt to sell
their Ikageng shares, in which event such shares are sold and the cash paid to the
participants, subject to tax obligations.

Shareholders are advised that pursuant to the settlement process in respect of the
vesting of the Ikageng Share Scheme, the results are as set out herein.

Pursuant to 9031 general participants accepting the allocation of grants and
participating in terms of Ikageng Share Scheme in 2015, such grants have vested and
the results of the settlement process is as follows:

Company:                          ArcelorMittal South Africa
Class of securities:              Ordinary shares
Vesting Date:                     1 October 2020
Date of settlement:               16 April 2021
Number of Ikageng shares:         15 895 179
Share Price:                      R2.60 (VWAP of traded shares)
Lowest price per security:        R2.31 cents per security
Highest price per security:       R2.90 cents per security
Total value of transaction:       R41 370 540.28
Nature of transaction:            Settlement of Ikageng Share Scheme Grant in
                                  terms of Ikageng Rules and sale of shares
Nature of interest:               Direct beneficial
Clearance obtained:               NA

Vanderbijlpark Works
20 April 2021

For further information please contact:
Mr Tami Didiza: Corporate Communications
Tel: (016) 889 4100

Company Secretary: FluidRock Co Sec (Pty) Ltd

Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited (acting through its Corporate and Investment Banking division)

Date: 20-04-2021 04:45:00
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