Last checked at 28 May 2019 07:00
AECI Limited - Acceptance of Awards of Performance SharesAECI Limited - Acceptance of Awards of Performance Shares
PR Newswire
London, May 27
AECI LIMITED(Incorporated in the Republic of South Africa)(Registration number 1924/002590/06)Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI(“AECI” or “the Company”)
DEALINGS IN SECURITIES BY DIRECTORS, GROUP COMPANY SECRETARY, DIRECTOR OF A MAJOR SUBSIDIARY AND PRESCRIBED OFFICERS
Acceptance of Awards of Performance Shares: Long-term Incentive Plan (“LTIP”)
In compliance with the JSE Limited Listings Requirements, the following information is disclosed:
In terms of the rules of the Company’s LTIP, participants have been allocated a new award of performance shares. These will convert into AECI ordinary shares and will vest three years after the grant date of 15 April 2019, subject to the performance conditions attached to each allocation being met. The performance shares were issued at the grant price as indicated below and were accepted off-market on 24 May 2019 as follows:
| Name | Position and company | No. of shares | Grant price | Value |
| MA Dytor | Chief Executive, AECI | 70 494 | R96,17 | R6 779 407,98 |
| KM Kathan | Chief Financial Officer, AECI | 48 531 | R96,17 | R4 667 226,27 |
| EN Rapoo | Group Company Secretary, AECI | 19 252 | R96,17 | R1 851 464,84 |
| EE Ludick | Director of AECI Mining Solutions Limited, a major subsidiary of AECI | 32 632 | R96,17 | R3 138 219,44 |
| DJ Mulqueeny | Prescribed Officer, AECI | 28 683 | R96,17 | R2 758 444,11 |
| DK Murray | Prescribed Officer, AECI | 28 313 | R96,17 | R2 722 861,21 |
Clearance has been obtained by all the above-mentioned recipients for the acceptance of their awards. All interests are direct beneficial.
Woodmead, Sandton27 May 2019
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)