| Fri 5 Sep 2008, 15:00 | | 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 All Employee Share Scheme
In terms of the share scheme rules the Lewis Stores (Pty) Ltd participants are
granted an award to receive a specific number of shares in Lewis Group Limited
for no consideration.
The share award will lapse, should the participant terminate his or her
employment before the vesting date other than in the event of death, ill-health,
retirement or retrenchment.
The following award was made at an average price of R37, 83 and vests within 2
years of the award date.
The following participant has been granted an award on 3 September 2008 under
the Lewis All Employee Share Scheme:
Total
Executive Designation Share Award Value
N. Jansen Director, 6 080 R 230
Lewis Stores 000
(Pty) Ltd
2. The Lewis Executive Performance Scheme
Share awards are 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 certain
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 executive has been granted an award at an average price of R37, 83
on 3 September 2008 under the Lewis Executive Performance Scheme:
Maximum No. of
Executive Designation Shares (for no Value
consideration)
N Jansen Director, Lewis Stores 23 791 R900 000
(Pty) Ltd
The director interest in the above transaction is direct beneficial. The
requisite clearances have been obtained.
Cape Town
5 September 2008
Date: 05/09/2008 15:00:03 Produced by the JSE SENS Department.
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