TIGER BRANDS LIMITED - Grant and acceptance of conditional share awards to directors of the Company

Grant and acceptance of conditional share awards to directors of the Company

TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
("Tiger Brands" or the "Company")


Grant and acceptance of conditional share awards to directors of
the Company and of a major subsidiary of the Company and the
company secretary


In compliance with paragraphs 3.63 - 3.74 of the Listings
Requirements of JSE Limited, shareholders are advised that Tiger
Brands has, on 19 December 2024 ("Offer Date"), offered
Performance Vesting Shares ("PVS") and Restricted Shares ("RS")
in terms of the Tiger Brands Limited 2013 Share Plan to directors
of the Company and its major subsidiary and the company
secretary("Participants").

The offers were accepted by the Participants on 20 December 2024.

PVS are conditionally awarded with the final number of Tiger
Brands ordinary shares ("Shares") settled after three years from
the Offer Date. The number of Shares to be settled will range
from 0% to 200% of the conditional award dependent on the specific
performance criteria for the PVS being met. The determined number
of PVS will be settled to the Participants in Shares or in cash,
at the Company's sole and absolute discretion.

RS are granted on a basis linked to the receipt of an annual
short-term incentive bonus in respect of the financial year ended
30 September 2024. The grant to the company secretary also include
RS granted as retention shares. The RS vest after three years
from the Offer Date and will be settled to the Participants in
Shares or in cash, at the Company's sole and absolute discretion.
The following offers are applicable to this announcement:


Name           Position           No. of      No. of   Deemed value at
                                    PVS         RS        Offer Date
                                 awarded     granted        (Rand)

TN Kruger      Director of the         -      18,820 R5,457,800*
               Company and of
               a major
               subsidiary


TA Govender Director of the
            Company and of
            a major
            subsidiary            28,650      12,560 R11,950,900*


NJ Ralebepa Director of a
            major
            subsidiary            14,900      6,600    R6,235,000*

JK Monaisa     Company
               Secretary           1,550       4,600 R1,783,500*




* Deemed value determined by applying the closing price of a
Share on the Offer Date (i.e. R290.00 per Share) to the total
number of PVS and RS awarded/granted (i.e. it is assumed that
100% of the PVS awarded will be settled upon vesting)

The following details are applicable to the above:

 -     Class of underlying security to Ordinary shares
       which PVS and RS rights attach

-    PVS Award Price per Share             Rnil (not applicable)
-    RS Grant Price per Share              Rnil (not applicable)
-    Nature of transaction                 Off-market allocation of PVS
                                           and RS
-    PVS vesting period                    Third anniversary of the Offer
                                           Date
-    RS vesting period                     Third anniversary of the Offer
                                           Date
-    Nature of interest                    Direct beneficial

In accordance with section 3.66 of the Listings Requirements, the
necessary clearance was obtained for acceptance of the
abovementioned PVS and RS offers.

Bryanston
20 December 2024

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 20-12-2024 03:59:00
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