WHL - Woolworths Holdings - Acceptance of Shares in Terms of Employment Contract
WHL
WOWOW
WHL - Woolworths Holdings - Acceptance of Shares in Terms of Employment Contract
WOOLWORTHS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1929/001986/06)
Share code: WHL
ISIN: ZAE000063863
ACCEPTANCE OF SHARES IN TERMS OF EMPLOYMENT CONTRACT
Shareholders are referred to the announcement dated 26 August 2009 advising that
Ian Moir will be appointed Managing Director Retail and Chief Executive Officer-
Elect of Woolworths Holdings Limited ("WHL"), effective 1 January 2010.
As part of his service contract he is entitled to, and has accepted to, receive
shares in WHL to the value of R20 million. These shares will be purchased on the
open market as soon as practicable, at the best market price. The shares will
vest from year three with full vesting at the end of the five-year period on
condition that he remains in the employment of Woolworths (Proprietary) Limited.
In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:
Director : Ian Moir
Company : Woolworths Holdings Limited
Nature of transaction : Acceptance of share awards
Class of securities : Award in respect of ordinary
shares
Value of shares : R20 million
Total value of transaction : R20 million
Nature of director`s interest : Direct beneficial
Clearance obtained : Yes
Cape Town
30 September 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01/10/2009 07:05:01 Produced by the JSE SENS Department.
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