13th Nov 2017 09:30
AECI Limited - LTIP AcceptanceAECI Limited - LTIP Acceptance
PR Newswire
London, November 13
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, 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 were allocated performance shares in 2017. 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 10 November 2017 by the Company’s Directors, the Group Company Secretary and the Director of a major subsidiary as follows:
| Name | Position and company | No. of shares | Grant price | Value |
| MA Dytor | Chief Executive, AECI | 43 766 | R105,53 | R4 618 625,98 |
| KM Kathan | Chief Financial Officer, AECI | 35 215 | R105,53 | R3 716 238,95 |
| EN Rapoo | Group Company Secretary, AECI | 10 811 | R105,53 | R1 140 884,83 |
| EE Ludick | Director of AECI Mining Solutions Limited, a major subsidiary of AECI | 25 096 | R105,53 | R2 648 380,88 |
Clearance has been obtained by all the above-mentioned recipients for the acceptance of their awards. All interests are direct beneficial.
Woodmead, Sandton13 November 2017
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited
Related Shares:
Aeci 5 1/2% Prf