Ceramic Industries Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1982/008520/06)
ISIN: ZAE000008538 Share code: CRM
SHARE INCENTIVE SCHEME
In terms of The Ceramic Industries Share Incentive Scheme, directors participate
in the Company"s share incentive scheme, which is designed to recognize the
contributions of employees including salaried directors and non-executive
directors to the continued growth of the Company"s business operations. Scheme
shares are offered at a price recommended by the Board of Directors in
accordance with the scheme. The exercise price of shares that have been offered
to directors of the Company were equal to or at a premium to the market price at
dates of the offer. In terms of the scheme the first tranche of 15 000 ordinary
shares at a cost of R27,50 per ordinary share vested in Mr. S D Jagoe, a
director of the Company, in December 2002 and he has now elected to pay for and
retain the shares.
End.
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