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PFG
PFG
PFG - Pioneer Food Group Limited - Acceptance of allocated Phantom share rights
by executive directors in terms of the Pioneer Food equity settled Phantom share
plan
PIONEER FOOD GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1996/017676/06)
JSE share code: PFG
ISIN: ZAE000118279
("Pioneer Foods" or "the Company")
ACCEPTANCE OF ALLOCATED PHANTOM SHARE RIGHTS BY EXECUTIVE DIRECTORS IN TERMS OF
THE PIONEER FOOD EQUITY SETTLED PHANTOM SHARE PLAN
In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements,
the following information is disclosed:
NAME OF DIRECTOR TA Carstens
COMPANY OF WHICH I AM A Pioneer Food Group Limited
DIRECTOR
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
DATE OF PHANTOM SHARE RIGHT 9 February 2010
GRANT
DATE OF PHANTOM SHARE RIGHT 13 December 2010
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE 3 474
PRICE (CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 119 546
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2011; 9 February 2012;
RIGHTS 9 February 2013; 9 February 2014;
9 February 2015
PERIOD OF EXERCISE Participants have until midnight
on 9 February 2020 during which
the Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share Rights
in terms of the Pioneer Foods
Equity Settled Phantom Share Plan
(off-market transaction)
NATURE AND EXTENT OF INTEREST Direct beneficial
IN THE TRANSACTION
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR LR Cronje
COMPANY OF WHICH I AM A Pioneer Food Group Limited
DIRECTOR
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
DATE OF PHANTOM SHARE RIGHT 9 February 2010
GRANT
DATE OF PHANTOM SHARE RIGHT 13 December 2010
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE 3 474
PRICE (CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 116 167
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2011; 9 February 2012;
RIGHTS 9 February 2013; 9 February 2014;
9 February 2015
PERIOD OF EXERCISE Participants have until midnight
on 9 February 2020 during which
the Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share Rights
in terms of the Pioneer Foods
Equity Settled Phantom Share Plan
(off-market transaction)
NATURE AND EXTENT OF INTEREST Direct beneficial
IN THE TRANSACTION
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR WA Hanekom
COMPANY OF WHICH I AM A Pioneer Food Group Limited
DIRECTOR
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Equity Settled Phantom Share
Rights
DATE OF PHANTOM SHARE RIGHT 9 February 2010
GRANT
DATE OF PHANTOM SHARE RIGHT 13 December 2010
ACCEPTANCE
PHANTOM SHARE RIGHT STRIKE 3 474
PRICE (CENTS)
NUMBER OF PHANTOM SHARE RIGHTS 210 622
ALLOCATED
STRIKE DATES OF PHANTOM SHARE 9 February 2011; 9 February 2012;
RIGHTS 9 February 2013; 9 February 2014;
9 February 2015
PERIOD OF EXERCISE Participants have until midnight
on 9 February 2020 during which
the Phantom Share Rights can be
exercised
NATURE OF TRANSACTION Acceptance of Phantom Share Rights
in terms of the Pioneer Foods
Equity Settled Phantom Share Plan
(off-market transaction)
NATURE AND EXTENT OF INTEREST Direct beneficial
IN THE TRANSACTION
CLEARANCE OBTAINED Yes
1 The Phantom Share Rights will vest in 5 tranches of 20% each on the strike
dates specified above.
2 The total number of shares that will be issued to the directors pursuant to
the exercise of the Phantom Share Rights will be determined according to a
formula based on the growth in the share price of Pioneer Foods from the
date of Grant of the Phantom Share Rights, to the date of exercise.
Therefore the total number of shares and total monetary value thereof will
only be determined on a future date.
3 An additional SENS announcement will be made upon the exercise of the
Phantom share rights disclosing the exact number of shares issued and the
total monetary value thereof in accordance with the Listings Requirements
of the JSE.
NAME OF DIRECTOR LR Cronje
COMPANY OF WHICH I AM A Pioneer Food Group Limited
DIRECTOR
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Shares
CLASS OF SECURITIES Ordinary
DATE OF TRANSACTION 14 December 2010
CENTS PER SHARE 865
NUMBER OF SECURITIES TRANSACTED 60 000
TOTAL RAND VALUE OF SECURITIES R519 000
NATURE OF TRANSACTION Delivery taken of options
previously granted in terms of the
Company`s deferred delivery scheme
(Off-market)
NATURE AND EXTENT OF INTEREST Direct beneficial
IN THE TRANSACTION
CLEARANCE OBTAINED Yes
NAME OF DIRECTOR LR Cronje
COMPANY OF WHICH I AM A Pioneer Food Group Limited
DIRECTOR
STATUS:EXECUTIVE/NON-EXECUTIVE Executive
TYPE OF SECURITIES Shares
CLASS OF SECURITIES Ordinary
DATE OF TRANSACTION 14 December 2010
CENTS PER SHARE Highest: 5 450
Lowest:5 400
VWAP: 5 425
NUMBER OF SECURITIES TRANSACTED 60 000
TOTAL RAND VALUE OF SECURITIES R3 255 048
NATURE OF TRANSACTION Disposal
(On-market)
NATURE AND EXTENT OF INTEREST Direct beneficial
IN THE TRANSACTION
CLEARANCE OBTAINED Yes
Paarl
15 December 2010
Sponsor
PSG Capital (Pty) Limited
Date: 15/12/2010 15:42:02 Produced by the JSE SENS Department.
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