| Thu 26 Jun 2008, 16:30 | | LEW - Lewis Group Limited - Directors` Dealing in Securities |
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LEW
LEW
LEW - Lewis Group Limited - Directors` Dealing in Securities
Lewis Group Ltd
Reg. No. 2004/009817/06
JSE Share Code: LEW
ISIN: ZAE000058236
(Lewis or the "Company")
Directors Dealings in Securities
In compliance with the requirements 3.63 to 3.74 of the JSE Listings
Requirements, the following should be noted:
1. The Lewis Co-Investment Scheme
Senior executives are eligible for an annual bonus based on achievement of
performance targets. These eligible executives can elect to invest all or part
of their net bonus in Lewis Group shares.
These shares are deferred for a specified period (three years) and matching
shares equal to the before tax bonus are awarded for no consideration at the end
of the period. The shares are provided by the existing employee share trust.
The matching share award will lapse, should the executive terminate his or her
employment before the completion of the three period other than in the event of
death, ill-health, retirement or retrenchment.
The following executives elected on 24 June 2008 to invest their net bonus in
the company`s shares ("invested shares") and, consequently, matching share
awards were awarded to them under the Lewis Co-Investment Plan:
Invested Matching Total
Executive Designation Shares Share Award Value
L.A. Davies Executive 16 345 27 242 R1 466 703
Director,
Lewis Group Ltd
J. Enslin Director, 16 345 27 242 R1 466 703
Lewis Stores
(Pty) Ltd
B. van Director, 10 243 17 072 R 919 150
Aswegen Lewis Stores
(Pty) Ltd
The invested shares were purchased at an average price of R33,65 and the
matching share awards will be received by the scheme participants for no
consideration.
2. The Lewis Executive Performance Scheme
Share awards have been made to members of senior management of Lewis Group
Limited and its trading subsidiary, Lewis Stores (Pty) Ltd. The shares are
provided by the existing employee share trust.
In terms of the scheme, executives have been offered the right to acquire shares
of the company for no consideration subject to the achievement of performance
targets. The performance share plan is a three year scheme and the share awards
will lapse, should the executive terminate his or her employment before the
completion of the three year period.
The performance targets are set by the Board in conjunction with the
Remuneration and Nomination Committee. These targets are set at the beginning of
each of the three years.
No performance shares will accrue if the group achieves less than 90% of target.
Any achievement between 90% and 100% of target will result in a proportionate
accrual of shares weighted towards 100% of target.
The following executives have been granted awards on 24 June 2008 under the
Lewis Executive Performance Scheme:
Maximum No. of
Executive Designation Shares (for no Value
consideration)
L.A. Davies Executive Director, Lewis 35 057 R1 200
Group Ltd 000
J. Enslin Director, Lewis Stores 35 057 R1 200
(Pty) Ltd 000
C. Irwin Director, Lewis Stores 26 585 R910 000
(Pty) Ltd
B. van Director, Lewis Stores 27 220 R931 728
Aswegen (Pty) Ltd
All the directors interest in the above transactions are direct beneficial. The
requisite clearances have been obtained.
Cape Town
26 June 2008
Date: 26/06/2008 16:30:01 Produced by the JSE SENS Department.
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