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Acceptance of awards in terms of the Adcorp Long-Term Incentive (“LTI”) Plan
ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")
ACCEPTANCE OF AWARDS IN TERMS OF THE ADCORP LONG-TERM INCENTIVE ("LTI") PLAN
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the acceptance of awards by participants in terms of the
Adcorp LTI Plan are herewith disclosed:
NAME OF PARTICIPANTS Dr John Wentzel (1)
Mr Noel Prendergast (2)
Mr Bruce Toerien (3)
Ms Heidi Duvenage (4)
Ms Natasha Parmanand (5)
Mr Zeb Riddell (6)
Mr Darran Butcher (7)
COMPANY OF WHICH A DIRECTOR Adcorp Holdings Limited (1 – 2)
Adcorp Workforce Solutions (5)
COMPANY OF WHICH A PRESCRIBED Adcorp Holdings Limited (3 – 7)
OFFICER
STATUS Executive Director (1 – 2)
Prescribed Officer and Managing Director:
Contingent Staffing South Africa (3)
Prescribed Officer and Managing Director:
Professional Services South Africa (4)
Director of Major Subsidiary - Adcorp
Workforce Solutions, Prescribed Officer
and Managing Director: Staffing Solutions
(5)
Prescribed Officer and Managing Director:
Contingent Staffing Australia (6)
Prescribed Officer and Managing Director:
Professional Services Australia (7)
CLASS OF SECURITIES Ordinary Shares (1 – 7)
NATURE OF TRANSACTIONS Acceptance of awards in terms of the
Adcorp LTI Plan (Non-Schedule 14 Plan)
through the award of forfeitable shares (or
the right to receive same) and conditional
shares (off-market transactions) (1 – 7)
DATE OF ACCEPTANCE OF AWARD 4 July 2025 (3, 4, 5)
8 July 2025 (1, 2, 6, 7)
DATE OF VESTING 30 June 2028 (1 – 7)
(Subject to the fulfilment of vesting
conditions per the new Adcorp LTI Plan)
DEEMED PRICE PER SHARE R6.57 (1 – 7)
(Based on the 7-day volume weighted
average price on 11 June 2025)
NUMBER OF SECURITIES AWARDED 782 213 (1)
(FORFEITABLE SHARES) 319 686 (2)
120 061 (3)
117 265 (4)
133 927 (5)
126 082 (6)
126 082 (7)
NUMBER OF SECURITIES AWARDED 335 234 (1)
(CONDITIONAL SHARES) 137 008 (2)
180 092 (3)
175 897 (4)
200 890 (5)
189 123 (6)
189 123 (7)
DEEMED TOTAL RAND VALUE OF R 7 341 626.79 (1)
SECURITIES (FORFEITABLE AND R 3 000 479.58 (2)
CONDITIONAL SHARES) R 1 972 005.21 (3)
R 1 926 074.34 (4)
R 2 199 747.69 (5)
R 2 070 896.85 (6)
R 2 070 896.85 (7)
(Based on deemed price per share)
NATURE AND EXTENT OF PARTICIPANTS Direct, beneficial
INTEREST IN THE TRANSACTIONS
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.
Johannesburg
9 July 2025
Sponsor
Valeo Capital (Pty) Ltd
Date: 09-07-2025 11:00:00
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