Dealings in Securities re the AECI LTIP

AECI Limited - Dealings in Securities re the AECI LTIP

PR Newswire

London, July 1

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

In compliance with the JSE Limited (“JSE”) Listings Requirements (“Listings Requirements”), the following information is disclosed:

In terms of the rules of the AECI Long-Term Incentive Plan (the “LTIP”), participants were allocated performance shares in 2016. The performance shares vest on the third anniversary of the allocation date, resulting in the 2016 tranche vesting on Sunday, 30 June 2019. The LTIP rules provide that, where the vesting date falls on a day other than a business day, vesting must occur the following business day, which in this case is today, Monday, 1 July 2019. Accordingly, Avior Capital Markets Proprietary Limited, which purchased the shares on behalf of the LTIP, delivered the shares to the participants today. 

The participants include the Company’s Directors, the Group Company Secretary, a Director of a major subsidiary and Prescribed Officers who received their shares as follows:

The Company’s interim financial reporting period ended on 30 June 2019 and the Company will be in a closed period until the publication of its results for this reporting period on or about 24 July 2019. 

Dispensation from the requirements of paragraphs 3.67 and 3.69 of the Listings Requirements was obtained from the JSE for Messrs Dytor, Kathan, Ludick, Mulqueeny and Murray and for Ms Rapoo to deal in AECI’s securities since no discretion was available to them in the vesting process.

Woodmead, Sandton

1 July 2019

Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)