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LEW
LEW
Lewis Group Limited - Director Share awards for 2006
Lewis Group Ltd
Reg. No. 2004/009817/06
JSE Share Code: LEW
ISIN: ZAE000058236
(Lewis or the "Company")
Director share awards for 2006
In compliance with the requirements 3.63 to 3.74 of the JSE Listings
Requirements, the following should be noted:
1. The Lewis Executive Performance Scheme
Share awards have been made to members of senior management of Lewis Group
Limited and its trading subsidiary, Lewis Stores (Pty) Ltd. The shares are
provided by the existing employee share trust.
In terms of the scheme, executives have been offered the right to acquire shares
of the company for no consideration subject to the achievement of performance
targets. The performance share plan will be a three year scheme.
The performance targets are set by the Board in conjunction with the
Remuneration and Nomination Committee. These targets will be set at the
beginning of each of the three years.
No performance shares will accrue if the group achieves less than 90% of target.
Any achievement between 90% and 100% of target will result in a proportionate
accrual of shares weighted towards 100% of target.
The following executives have been granted awards on 30 June 2006 under the
Lewis Executive Performance Scheme:
Maximum Number
Executive Designation of Shares Value
(for no
consideration)
A. J. Smart Executive Director
- Lewis Group Ltd 44 573 R 2 000 000
L. A. Davies Director - Lewis 22 287 R 1 000 000
Stores (Pty) Ltd
J. Enslin Director - Lewis 18 498 R 830 000
Stores (Pty) Ltd
C.D. Heiberg Director - Lewis 22 287 R 1 000 000
Stores (Pty) Ltd
C.P. Irwin Director - Lewis 17 606 R 790 000
Stores (Pty) Ltd
I.D.McAlpin Director - Lewis 29 641 R 1 330 000
Stores (Pty) Ltd
K.C. Van Director - Lewis 18 810 R 844 000
Aardt Stores (Pty) Ltd
2. The Lewis Co-Investment Scheme
Senior executives are eligible for an annual bonus based on achievement of
performance targets. These eligible executives can elect to invest all or part
of their net bonus in Lewis Group shares.
These shares are deferred for a specified period (three years) and matching
shares equal to the before tax bonus are awarded for no consideration at the end
of the period. The shares are provided by the existing employee share trust.
The matching share award will lapse, should the executive terminate his or her
employment before the completion of the three period other than in the event of
death, ill-health, retirement or retrenchment.
The following executives elected on 30 June 2006 to invest their net bonus in
the company"s shares ("invested shares") and, consequently, matching share
options were awarded to them under the Lewis Co-Investment Plan:
Executive Designation Invested Matching Total
shares share option Value
A.J. Smart Executive 21 806 36 344 R 2 703 975
Director - Lewis
Group Ltd
L.A. Davies Director - Lewis 7 226 12 044 R 896 055
Stores (Pty) Ltd
Director - Lewis
J.Enslin Stores (Pty) Ltd 8 129 13 549 R 1 008 027
Director - Lewis
Stores (Pty) Ltd
C.D. Heiberg Director - Lewis 10 323 17 205 R 1 280 052
Stores (Pty) Ltd
Director - Lewis
I.D.McAlpin Stores (Pty) Ltd 13 204 22 007 R 1 637 312
K.C. Van 6 108 10 180 R 757 392
Aardt
The requisite clearances have been obtained.
Cape Town
4 July 2006
Date: 04/07/2006 08:00:04 AM Produced by the JSE SENS Department
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