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ILLOVO SUGAR LIMITED - NOTICE OF GRANT OF OPTIONS LODGED WITH THE JSE SECURITIES
EXCHANGE SOUTH AFRICA
ILLOVO SUGAR LIMITED
(Incorporated in the Republic of South Africa)
Company registration number 1906/000622/06
Share Code: ILV
ISIN: ZAE000003547
(`Illovo Sugar`)
NOTICE OF GRANT OF OPTIONS LODGED WITH THE JSE Securities Exchange South Africa
IN TERMS OF THE REVISED LISTINGS REQUIREMENTS RULES 3.63 to 3.74
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the
JSE Securities Exchange South Africa, notice is hereby given that the following
directors/company secretary/directors and company secretary of major
subsidiaries were granted Illovo Sugar share options in terms of the provisions
of the Illovo Sugar 1992 Share Option Scheme (`the Scheme`) effective 2 June
2004 at a price of R7,70 per ordinary Illovo Sugar share (being the closing
market price of the shares on the preceding day); clearance having been given
for the above by the designated director in terms of paragraph 3.66 of the
Listings Requirements on 11 June 2004:
Name: Designation: Number of Extent of
options Interest
granted
D G MacLeod Director - Illovo Sugar Limited 215 000 Directly
beneficial
G J Clark Director - Illovo Sugar Limited 94 000 Directly
beneficial
N M Hawley Director - Illovo Sugar Limited 42 000 Directly
beneficial
M I Hlatshwayo Director - Illovo Sugar Limited 36 000 Directly
beneficial
J T Russell Director - Illovo Sugar Limited 87 000 Directly
beneficial
B M Stuart Director - Illovo Sugar Limited 94 000 Directly
beneficial
G D Knox Company Secretary - Illovo Sugar 33 000 Directly
Limited beneficial
B M Stewardson Director - The Sugar Corporation of 28 000 Directly
Malawi Limited beneficial
I G Parrott Director - The Sugar Corporation of 14 000 Directly
Malawi Limited beneficial
J M Moult Director - Zambia Sugar Plc 21 000 Directly
beneficial
R M L Katowa Director - Zambia Sugar Plc 15 000 Directly
beneficial
L M Sievu Company Secretary - Zambia Sugar Plc 10 000 Directly
beneficial
Note: The Sugar Corporation of Malawi Limited and Zambia Sugar Plc are
classified as major subsidiaries of Illovo Sugar Limited.
IN TERMS OF THE SCHEME, VESTING PERIODS FOR THE SHARE OPTIONS ARE 1/3 AFTER 3
YEARS, 2/3 AFTER 4 YEARS, AND THE FULL ALLOCATION AFTER 5 YEARS, WITH THE
MAXIMUM PERIOD FOR THE EXERCISING OF OPTIONS BEING 10 YEARS.
Johannesburg
14 June 2004
Sponsor
Cazenove
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