4th Jun 2020 09:30
AECI Limited - Dealings in Securities re AECI LTIPAECI Limited - Dealings in Securities re AECI LTIP
PR Newswire
London, June 4
AECI LIMITEDIncorporated in the Republic of South Africa(Registration number: 1924/002590/06)Share code: AFE ISIN: ZAE000000220Hybrid code: AFEP ISIN: ZAE000000238Bond company code: AECILEI: 3789008641F1D3D90E85(“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 standard rules of the Company’s LTIP, participants have been allocated a new award of performance shares in line with an annual process. These will convert into AECI ordinary shares and will vest three years after the grant date of 15 April 2020, 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 3 June 2020 as follows:
| Name | Position and company | No. of shares | Grant price | Value |
| MA Dytor | Chief Executive, AECI | 120 924 | R73,77 | R8 920 563,48 |
| KM Kathan | Chief Financial Officer, AECI | 80 152 | R73,77 | R5 912 813,04 |
| EN Rapoo | Group Company Secretary, AECI | 20 706 | R73,77 | R1 527 481,62 |
| EE Ludick | Director of AECI Mining Limited, a major subsidiary of AECI | 53 893 | R73,77 | R3 975 686,61 |
| DJ Mulqueeny | Prescribed Officer, AECI | 39 323 | R73,77 | R2 900 857,71 |
| DK Murray | Prescribed Officer, AECI | 38 865 | R73,77 | R2 867 071,05 |
| CBH Watson | Prescribed Officer, AECI | 32 671 | R73,77 | R2 410 139,67 |
Clearance has been obtained by all the above-mentioned recipients for the acceptance of their awards. All interests are direct beneficial.
Woodmead, Sandton
4 June 2020
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Related Shares:
Aeci 5 1/2% Prf