28 Jun 2016 13:00
AECI LTD - Dealings re AECI Long-Term Incentive PlanAECI LTD - Dealings re AECI Long-Term Incentive Plan
PR Newswire
London, June 28
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 ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (“LTIP”)
In compliance with the JSE Limited Listings Requirements, shareholders are advised that AECI had entered into an agreement with Avior Capital Markets Proprietary Limited, an independent third party broking firm (“Avior”) to purchase AECI ordinary shares (“Shares”) on behalf of the LTIP, in order to settle the obligations to its participants in respect of the Performance Shares (as defined in the rules of the LTIP) that vested on 28 June 2016, in a non-dilutive manner in accordance with the rules of the LTIP.
The following information is disclosed in compliance with the JSE Limited Listings Requirements:
| Name of share scheme: | The LTIP | ||
| Company: | AECI | ||
| Nature of transaction: | On-market purchase of Shares by Avior on behalf of the LTIP to settle the obligations to the LTIP participants | ||
| Class of securities: | Ordinary shares | ||
| Date of transaction: | 24 June 2016 | ||
| Number of securities: | 259 502 | ||
| Purchase price per security: | 8 496.90 cents | ||
| Total value of transaction: | R22 049 625.44 | ||
| Extent of interest: | Indirect non-beneficial (purchased by Avior via its proprietary trading account) | ||
| Clearance to deal obtained: | Yes | ||
Furthermore, the Company reminds shareholders of the following outstanding awards under the LTIP in respect of the Directors and Group Company Secretary:
Performance Shares vested on 28 June 2016 in terms of the LTIP
| Name | Position | Number of Shares |
| Mark Dytor | Chief Executive | 28 232 |
| Mark Kathan | Chief Financial Officer | 26 197 |
| Nomini Rapoo | Group Company Secretary | 4 183 |
| Edwin Ludick | Director of AEL Holdco Limited, a major subsidiary | 5 969 |
| Wayne Du Chenne | Director of AEL Holdco Limited, a major subsidiary | 3 116 |
Performance Shares allocated and due to vest on 30 June 2017, subject to the rules of the LTIP
| Name | Position | Number of Shares |
| Mark Dytor | Chief Executive | 17 956 |
| Mark Kathan | Chief Financial Officer | 13 724 |
| Nomini Rapoo | Group Company Secretary | 3 606 |
| Edwin Ludick | Director of AEL Holdco Limited, a major subsidiary | 6 084 |
| Wayne Du Chenne | Director of AEL Holdco Limited, a major subsidiary | 3 195 |
Performance Shares allocated and due to vest on 30 June 2018, subject to the rules of the LTIP
| Name | Position | Number of Shares |
| Mark Dytor | Chief Executive | 27 783 |
| Mark Kathan | Chief Financial Officer | 20 453 |
| Nomini Rapoo | Group Company Secretary | 5 574 |
| Edwin Ludick | Director of AEL Holdco Limited, a major subsidiary | 10 785 |
| Wayne Du Chenne | Director of AEL Holdco Limited, a major subsidiary | 5 687 |
Woodmead, Sandton
28 June 2016
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Aeci 5 1/2% Prf (87FZ)