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AVI LIMITED - Acceptance Of Share Appreciation Rights (SARs) By AVI Directors And Directors Of A Major Subsidiary

Release Date: 25/06/2020 15:10
Code(s): AVI     PDF:  
Wrap Text
Acceptance Of Share Appreciation Rights (“SARs”) By AVI Directors And Directors Of A Major Subsidiary

AVI Limited
Incorporated in the Republic of South Africa
Registration Number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI”)

ACCEPTANCE OF SHARE APPRECIATION RIGHTS (“SARs”) BY AVI DIRECTORS AND
DIRECTORS OF A MAJOR SUBSIDIARY

In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements
of the JSE Limited, the following information is disclosed:

Director                     :   Simon Crutchley
Company                      :   AVI
Date of transaction          :   24 June 2020
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   361 080
SARs allocation price        :   R69.75
Total value of transaction   :   R25 185 330.00
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes

Director                     :   Michael Koursaris
Company                      :   AVI
Date of transaction          :   24 June 2020
Nature of transaction        :   Acceptance of SARs in the Revised
                                 AVI Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   130 064
SARs allocation price        :   R69.75
Total value of transaction   :   R9 071 964.00
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes

Director                     :   David Hood
Company                      :   National Brands Limited
Date of transaction          :   24 June 2020
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   128 601
SARs allocation price        :   R69.75
Total value of transaction   :   R8 969 919.75
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes


Director                     :   Roelf van der Laan
Company                      :   National Brands Limited
Date of transaction          :   24 June 2020
Nature of transaction        :   Acceptance of SARs in the Revised AVI
                                 Executive Share Incentive Scheme
Class of securities          :   SARs in respect of ordinary shares
Number of SARs granted       :   39 737
SARs allocation price        :   R69.75
Total value of transaction   :   R2 771 655.75
Vesting period               :   3 years
Nature and extent of
Director’s interest          :   Direct beneficial
On-market or off-market      :   Off-market
Clearance obtained           :   Yes



Illovo
25 June 2020

Sponsor
The Standard Bank of South Africa Limited

Date: 25-06-2020 03:10:00
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