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TAS
TAS
TAS - Taste Holdings Limited - Share Options Accepted
TASTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/002239/06)
JSE code: TAS
ISIN: ZAE000081162)
("the company")
SHARE OPTIONS ACCEPTED
Executive directors of the company have accepted options over ordinary shares
granted in terms of the Taste Holdings Trust as follows:
Strike price per share: 43 cents
Date of acceptance: 27 May 2010
Nature of interest: Direct beneficial
Clearance obtained: Yes
Number of options accepted:
Director Tranche 1 Tranche 2 Tranche 3 Total
CF Gonzaga 570 000 468 000 468 000 1 506 000
DJ Crosson 474 000 375 000 375 000 1 224 000
E Tsatsarolakis 300 000 300 000 300 000 900 000
L Gonzaga 402 000 300 000 300 000 1 002 000
H Rabinowitz 300 000 300 000 300 000 900 000
Other employees 1 872 000 1 575 000 1 575 000 5 022 000
Total 3 918 000 3 318 000 3 318 000 10 554 000
The strike price as indicated above was calculated as per the provisions of the
Taste Holdings Trust deed and represents the 30 day volume weighted average
traded price of Taste shares on the grant date, being 6 May 2010.
Vesting of tranche 1 will be triggered by the first achievement, tranche 2 by
the second achievement and tranche 3 by the third achievement by Taste of a 25%
increase in headline earnings per share in any three financial years from 2011
to 2015.
Once vesting of a tranche has been triggered, a third of the options within the
tranche will vest one year after vesting was triggered, a third two years after
vesting was triggered and a third three years after vesting was triggered.
The options must be exercised within five years of vesting having been
triggered.
Johannesburg
28 May 2010
Designated Adviser:
Vunani Corporate Finance
Date: 28/05/2010 16:10:02 Produced by the JSE SENS Department.
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