Last checked at 9 Sep 2016 13:00
AECI LTD - AECI LTIP acceptance September 2016AECI LTD - AECI LTIP acceptance September 2016
PR Newswire
London, September 9
AECI Limited(Incorporated in the Republic of South Africa)(Registration number 1924/002590/06)Share Code: AFE ISIN: ZAE000000220(“AECI” or “the Company”)
DEALINGS IN SECURITIES BY DIRECTORS, COMPANY SECRETARY AND DIRECTORS OF A MAJOR SUBSIDIARY
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 were allocated performance shares in 2016. 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 below and were accepted off-market on 9 September 2016 by the Company’s Directors, the Group Company Secretary and Directors of a major subsidiary as follows:
| Name | Position and company | No. of shares | Grant price | Value |
| MA Dytor | Chief Executive, AECI | 28 049 | R86,78 | R2 434 092,22 |
| KM Kathan | Chief Financial Officer, AECI | 20 650 | R86,78 | R1 792 007,00 |
| EN Rapoo | Group Company Secretary, AECI | 5 310 | R86,78 | R460 801,80 |
| WL Du Chenne | Director of AEL Holdco Limited, a major subsidiary of AECI | 4 904 | R86,78 | R425 569,12 |
| R Fernandes | Director of AEL Holdco Limited, a major subsidiary of AECI | 4 958 | R86,78 | R430 255,24 |
| EE Ludick | Director of AEL Holdco Limited, a major subsidiary of AECI | 10 615 | R86,78 | R921 169,70 |
Clearance has been obtained by all the above-mentioned recipients for the acceptance of their awards. All interests are direct beneficial.
Woodmead, Sandton9 September 2016
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited