| Fri 12 Jun 2009, 15:30 | | LEW - Lewis Group Limited - Directors Dealings in Securities |
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LEW
LEW
LEW - Lewis Group Limited - Directors Dealings 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 10 June 2009 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
J. Enslin Director, 8 354 13 924 R1 080 037
Lewis Stores
(Pty) Ltd
L.A. Davies Executive 7 797 12 995 R1 007 996
Director,
Lewis Group Ltd
B. van Director, 4 158 6 930 R537 546
Aswegen Lewis Stores
(Pty) Ltd
D Loudon Director, 3 255 5 425 R420 806
Lewis Stores
(Pty) Ltd
N Jansen Director, 802 1 337 R103 699
Lewis Stores
(Pty) Ltd
The invested shares were purchased at an average price of R48,48 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 10 June 2009 under the
Lewis Executive Performance Scheme:
Maximum No. of
Executive Designation Shares (for no Value
consideration)
J. Enslin Director, Lewis Stores 34 669 R1 672 416
(Pty) Ltd
L.A. Davies Executive Director, Lewis 34 782 R1 677 864
Group Ltd
D Loudon Director, Lewis Stores 17 815 R 859 404
(Pty) Ltd
N Jansen Director, Lewis Stores 21 337 R1 029 312
(Pty) Ltd
B. van Director, Lewis Stores 22 817 R1 100 700
Aswegen (Pty) Ltd
C Irwin Director, Lewis Stores 20 154 R 972 240
(Pty) Ltd
All the directors interest in the above transactions are direct beneficial.
The requisite clearances have been obtained.
Cape Town
12 June 2009
Sponsor
UBS South Africa (Pty) Ltd
Date: 12/06/2009 15:30:02 Produced by the JSE SENS Department.
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