Last checked at 11 Sep 2015 14:02
AECI LTD - Acceptance of Awards re Long Term Incentive PlanAECI LTD - Acceptance of Awards re Long Term Incentive Plan
PR Newswire
London, September 11
AECI Limited(Incorporated in the Republic of South Africa)(Registration number 1924/002590/06)Share Code: AFE ISIN: ZAE000000220(“AECI” or “the Company”)
Acceptance of Awards of Performance Shares: Long-term Incentive Plan (“LTIP”)
In compliance with the JSE Limited Listing Requirements, the following information is disclosed:
In terms of the rules of the Company’s LTIP, participants were allocated performance shares in 2015. These will convert into AECI ordinary shares and will vest after three years, subject to the performance conditions attached to each allocation being met. The performance shares were issued at the grant price as indicated and were accepted off-market on 11 September 2015 by the Company’s Executive Directors as follows:
| Executive Director | No. of performance shares | Grant price | Value |
| MA Dytor | 27 783 | R117,19 | R3 255 889,77 |
| KM Kathan | 20 453 | R117,19 | R2 396 887,07 |
Clearance has been obtained by both the above-mentioned Executive Directors for the acceptance of the awards. All interests are direct beneficial.
Woodmead, Sandton11 September 2015
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)