CALGRO M3 HOLDINGS LIMITED - Exercise of options and related settlement in terms of the Calgro Executive Share Incentive Scheme

Exercise of options and related settlement in terms of the Calgro Executive Share Incentive Scheme

CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/027663/06)
JSE Share code: CGR
ISIN: ZAE000109203
Company Alpha Code: CGRI1
LEI: 3789003B0859E9438F25
("Calgro" or "the Company")

EXERCISE OF OPTIONS AND RELATED SETTLEMENT IN TERMS OF THE CALGRO EXECUTIVE
SHARE INCENTIVE SCHEME

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, details of the exercise
of options by directors of Calgro and a director of a major subsidiary of Calgro, in terms of the Calgro Share
Incentive Scheme ("Scheme"), are disclosed in the table below.

Upon the exercise of the options referred to below, the Company settled same on an after-tax net-equity
settlement basis, through the transfer of ordinary shares, held as treasury shares by a subsidiary of Calgro, as
detailed in the table below.

 NAME OF DIRECTOR                                      Sayuri Naicker                                      (1)
                                                       Wayne Williams                                      (2)
                                                       Willem Adolph (Waldi) Joubert                       (3)
                                                       Allistiar Langson                                   (4)

 COMPANY OF WHICH A DIRECTOR                           Calgro M3 Holdings Limited                        (1-3)
                                                       Calgro M3 Developments (Pty) Ltd
                                                       (a major subsidiary of Calgro)                    (1-4)

 STATUS: EXECUTIVE/NON-EXECUTIVE                       Executive

 TYPE AND CLASS OF SECURITIES                          Ordinary shares

 NATURE OF TRANSACTION                                 Exercise of options by the director at the option strike
                                                       price, and related after-tax net-equity settlement of
                                                       shares, at the closing share price on the exercise date
                                                       (off-market transaction)

 VESTING DATE OF OPTIONS                               15 January 2024

 PERIOD OF EXERCISE                                    Participants have a 120 day period from the vesting
                                                       date during which options can be exercised

 DATE OF EXERCISE OF OPTIONS                           1 February 2024

 OPTION STRIKE PRICE                                   Nil

 NUMBER OF OPTIONS EXERCISED                           240 000                                            (1)
                                                       300 000                                            (2)
                                                       300 000                                            (3)
                                                       200 000                                            (4)

 NUMBER OF SHARES SETTLED ON AN AFTER-                 132 000                                            (1)
 TAX NET-EQUITY SETTLEMENT BASIS                       165 000                                            (2)
                                                       165 000                                            (3)
                                                       110 000                                            (4)

 TOTAL DEEMED VALUE OF SETTLED SHARES                  R587 400                                           (1)
                                                       R734 250                                           (2)
                                                       R734 250                                           (3)
                                                       R489 500                                           (4)

                                                       (Based on the closing share price of R4.45 on the
                                                       exercise date)

 NATURE AND EXTENT OF INTEREST IN THE                  Direct, beneficial
 TRANSACTION


Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.

Johannesburg
2 February 2024

Equity and Debt Sponsor
PSG Capital

Date: 02-02-2024 01:00:00
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