4th May 2018 14:42
AECI Limited - LTIP Acceptance of Awards of Performance SharesAECI Limited - LTIP Acceptance of Awards of Performance Shares
PR Newswire
London, May 4
AECI Limited(Incorporated in the Republic of South Africa)(Registration number 1924/002590/06)Share code: AFE ISIN: ZAE000000220
Bond company code: AECI(“AECI” or “the Company”)
DEALINGS IN SECURITIES BY DIRECTORS, THE GROUP COMPANY SECRETARY AND THE DIRECTOR 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 have been allocated a new award of performance shares. 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 4 May 2018 as follows:
| Name | Position and company | No. of shares | Grant price | Value |
| MA Dytor | Chief Executive, AECI | 62 474 | R112,76 | R7 044 568,24 |
| KM Kathan | Chief Financial Officer, AECI | 46 200 | R112,76 | R5 209 512,00 |
| EN Rapoo | Group Company Secretary, AECI | 15 378 | R112,76 | R1 734 023,28 |
| EE Ludick | Director of AECI Mining Solutions Limited, a major subsidiary of AECI | 31 004 | R112,76 | R3 496 011,04 |
Clearance has been obtained by all the above-mentioned recipients for the acceptance of their awards. All interests are direct beneficial.
Woodmead, Sandton4 May 2018
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Related Shares:
Aeci 5 1/2% Prf