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TIGER BRANDS LIMITED - Grant and acceptance of an allocation of shares to a director of the Company

Release Date: 08/02/2021 13:56
Code(s): TBS     PDF:  
Wrap Text
Grant and acceptance of an allocation of shares to a director of the Company

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

Grant and acceptance of an allocation of shares to a director of
the Company

In compliance with paragraphs 3.63 - 3.74 of the Listings
Requirements of JSE Limited, shareholders are advised of an
allocation of Tiger Brands ordinary shares in terms of the Tiger
Brands Black Managers Trust (“the Trust”) on 31 January 2021
(“Offer Date”) to a director of the Company who is also a director
of a major subsidiary of the Company (“the Director”), as set out

The offer was accepted on 8 February 2021.

After the respective vesting dates, the Director may exercise her
vested rights to acquire the shares allocated to her, in which
event she will be required to make payment of the relevant capital
contributions to the Trust.

Director                        DS Sita
Number of securities            7,000
Deemed value at Offer Date      R1,027,390
Class of securities             Ordinary shares in Tiger Brands
Vesting period                  One-third of allocation on each
                                of the third, fourth and fifth
                                anniversary dates of the Offer
Nature of transaction           Off-market award of shares
Nature of interest              Direct beneficial
Clearance obtained              Yes

* Deemed value determined by applying the closing price of a
Share on Friday, 29 January 2021 (i.e. R199.26 per Share) net of
the amount of the capital contribution as determined on the Offer
Date (R52.49 per Share), to the total number of Tiger Brands
ordinary shares allocated
In accordance with section 3.66 of the Listings Requirements, the
necessary clearance was obtained for acceptance of the
abovementioned allocation.

8 February 2021

J.P. Morgan Equities South Africa Proprietary Limited

Date: 08-02-2021 01:56:00
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