| Thu 1 Dec 2011, 15:25 | | SPG - Super Group Limited - Grants to and acceptances of options by executive |
|
SPG
SPG
SPG - Super Group Limited - Grants to and acceptances of options by executive
directors, the group company secretary and a director of a material subsidiary
under Share Incentive arrangements
Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1943/016107/06)
Share code: SPG
ISIN: ZAE000011334
("Super Group")
GRANTS TO AND ACCEPTANCES OF OPTIONS BY EXECUTIVE DIRECTORS, THE GROUP COMPANY
SECRETARY AND A DIRECTOR OF A MATERIAL SUBSIDIARY UNDER SHARE INCENTIVE
ARRANGEMENTS
In compliance with rule 3.63 to 3.66 of the Listings Requirements, shareholders
are advised that the executive directors and the group company secretary of
Super Group and a director of a material subsidiary of Super Group have, in
terms of the Share Appreciation Right Scheme 2005 ("the Scheme"), been granted
rights to receive shares which grants have been accepted.
Shareholder approval of the Scheme was obtained at the 2005 Annual General
Meeting. All rights have conditions attached and are subject to the rules of
the Scheme. The Remuneration Committee approved the grants and the required
clearance in terms of the Listings Requirements was obtained.
The Scheme supports the principle of aligning management and shareholder
interests. Performance conditions governing the vesting of these rights are
intended to be stretching but achievable. The performance conditions are
related to headline earnings per share increasing by 2% per annum above the
Consumer Price Inflation Index over the three year performance period ending
June 2013. The grants are conditional upon the participant remaining employed
during the performance period.
We refer to the SENS issued on 2 March 2011. At that time the full allocation of
options, as approved by the Remuneration Committee at its meeting in February,
was not allocated as a result of a required change to the rules of the Scheme.
The change required the approval by Super Group shareholders which was proposed
at the Company`s Annual General Meeting on 25 November 2011 and the necessary
approval was obtained. The allocation below is the balance as approved by the
Remuneration Committee.
The rights granted to and accepted by the following directors and officers vest
upon confirmation that the performance conditions have been fulfilled.
Name of director Number of Share Appreciation Rights Nature of interest
P Mountford 6 400 000 Direct, beneficial
C Brown 5 200 000 Direct, beneficial
N Redford (1) 2 000 000 Direct, beneficial
P Smith(2) 3 200 000 Direct, beneficial
Total 16 800 000
Date of acceptance 1 December 2011
Nature of transaction Grant and acceptance of Share Appreciation Rights
Class of securities Ordinary shares
Price R0.73
Vesting date Following approval by the Remuneration Committee
based on the audited results for the year ended 30
June 2013
(1) N Redford is the Group Company Secretary
(2) P Smith is a director of Super Group Trading (Proprietary) Limited.
The required clearance per section 3.66 of the Listings Requirements was
obtained.
Sandton
1 December 2011
Sponsor: Deutsche Securities (SA) (Pty) Limited
Date: 01/12/2011 15:25:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
