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METAIR INVESTMENTS LIMITED - Dealings in securities

Release Date: 08/04/2021 14:40
Code(s): MTA     PDF:  
Wrap Text
Dealings in securities

METAIR INVESTMENTS LIMITED
(Reg No. 1948/031013/06)
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE000090692
(“Metair” or the “Company”)

DEALINGS IN SECURITIES

In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements (“Listings
Requirements”), the following transactions by directors of Metair and its major subsidiaries and Metair’s company secretary
(“Participants”) are hereby disclosed.

1. ALLOCATION OF PERFORMANCE SHARES

The terms and conditions of the performance shares (“Performance Shares”) are:

 Date of award                                                 1 April 2021
 Number of Performance Shares awarded to Participants          540 932
 Price paid per Performance Share                              Nil
 Total value of transaction                                    Nil
 Allocation price per Performance Share                        R19.15 being the 20-day volume weighted average price
                                                               (“VWAP”) as at 31 March 2021
 Class of securities                                           Ordinary shares
 Nature of transaction                                         Acceptance of Performance Shares
 Vesting date                                                  1 April 2024
 Vesting period                                                Performance Shares vest on the third anniversary of the
                                                               award date to the extent that the Company’s performance
                                                               criteria during the intervening period has been met.
 Transaction completed:                                        Off-market
 Clearance obtained in terms of paragraph 3.66 of the Listings Yes
 Requirements

The details of the allocation of the Performance Shares per Participant are set out below. The nature of the interest of all
Participants is direct beneficial.

                                                                                                          
                                                                                                          Deemed value of       
Director                         Company name                                No. of Performance        Performance Shares 
                                                                                Shares accepted                    (Rand)
Mr D. Seker                      Mutlu Holding Anonim Sirketi                            51 231                   981 074
Mr B. Eser                       Mutlu Holding Anonim Sirketi                            17 171                   328 825
Ms S. Emiroglu                   Mutlu Holding Anonim Sirketi                            19 157                   366 857
Mr Y. Kaptan                     Mutlu Holding Anonim Sirketi                            25 514                   488 593
Mr T. Korlu                      Mutlu Holding Anonim Sirketi                            15 512                   297 055
Mr B. Sen                        Mutlu Holding Anonim Sirketi                            13 404                   256 687
Mr B. Erol                       Mutlu Holding Anonim Sirketi                            10 476                   200 615
Mr I. Atay Rodoplu               Mutlu Holding Anonim Sirketi                             7 573                   145 023
Mr E. Berber                     Mutlu Holding Anonim Sirketi                             6 912                   132 365
Mr R. Haffejee                   Metair                                                 187 990                 3 600 009
Mr S. Douwenga                   Metair                                                 123 766                 2 370 119
Mr A. Jogia                      Metair                                                  28 234                   540 681
Ms S.M. Vermaak                  Metair                                                  33 992                   650 947

2. VESTING, EXERCISE AND SALE OF PERFORMANCE SHARES

On 3 April 2018, Performance Shares were conditionally granted to certain Participants, in accordance with the Metair
Investments Limited 2009 Share Plan. These Performance Shares have vested and have been exercised by the Participants
pursuant to which the Participants received Metair ordinary shares (“Shares”) at no cost, as per the table below. The nature of
the interest of the Participants is direct beneficial.

 DETAILS OF VESTING AND EXERCISE OF PERFORMANCE SHARES
 Total number of Shares exercised/settled                      76 514
 Deemed value of Performance Shares on exercise                R1 467 538.52 at a price of R19.18, being the 20-day VWAP
                                                               as at 5 April 2021
 Class of Securities                                           Ordinary shares
 Nature of transaction                                         Settlement of Performance Shares
 Date of Award                                                 3 April 2018
 Date of Performance Shares exercised/settled                  6 April 2021
 Vesting period                                                Performance Shares vest on the third anniversary of the
                                                               award date to the extent that the Company’s performance
                                                               criteria during the intervening period has been met.
 Transaction completed:                                        Off-market
 Clearance obtained in terms of paragraph 3.66 of the Listings Yes
 Requirements

In order to facilitate the disposal of these Shares received by the Participants in an orderly fashion, the Participants have
entered into a pooled sale in terms of which the Participant’s Shares were disposed through arranged on-market trades on
7 April 2021, as per the table below:

 DETAILS OF SALE OF SHARES
 Nature of transaction                                         On-market sale of shares
 Class of Share                                                Ordinary shares
 Price per Share                                               Various different trades with the following price information:
                                                               - VWAP of R21.0801;
                                                               - highest price of R21.50; and
                                                               - lowest price of R21.00.
 Total number of Shares sold                                   47 268
 Total value of Shares sold                                    R993 422.10
 Clearance obtained in terms of paragraph 3.66 of the Listings Yes
 Requirements

Details of the exercise of the Performance Shares, the related receipt of Shares and sale of Shares per Participant are tabled
below:

 Director             Company           No. of Performance              Deemed value of                  No. of       Value of Shares
                      Name                Shares exercised    Performance Shares (Rand)             Shares sold           sold (Rand)
 
                      Mutlu Holding                  5 026                       96 399                   5 026               105 630
 Mr D. Seker          Anonim Sirketi                    
                      Mutlu Holding                  6 396                      122 675                   6 396               134 424
 Mr Y. Kaptan         Anonim Sirketi                    
 Mr S. Douwenga       Metair                        40 913                      784 711                  20 465               430 109
 Mr A. Jogia          Metair                        11 417                      218 978                   9 000               189 151
 Ms S.M. Vermaak      Metair                        12 762                      244 775                   6 381               134 108



Johannesburg
8 April 2021

Sponsor
One Capital

Date: 08-04-2021 02:40:00
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