BARLOWORLD LIMITED - Allocation of forfeitable shares | |
1 April 2016 17:20 | |
BAW 201604010067A Allocation of forfeitable shares Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Namibian Stock Exchange share code: BWL) ('Barloworldö or ôthe Company') ALLOCATION OF FORFEITABLE SHARES In accordance with paragraph 3.63 of the JSE Listings Requirements, shareholders are advised that the following executive directors and company secretary of Barloworld Limited and directors of Barloworld South Africa (Pty) Limited, a major subsidiary, were awarded shares in terms of the companyÆs forfeitable share plan (all off market) on 30 March 2016, the salient details of which are set out below: Executive Directors and Company Secretary of Barloworld Limited: Name of executive director: Dominic Sewela Name of company: Barloworld Limited Designation: Executive Director Number of forfeitable shares awarded: 46 150 Barloworld ordinary shares, of which 34 610 Barloworld shares will vest subject to achievement of performance conditions; Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R3 518 937.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of executive director: Donald Wilson Name of company: Barloworld Limited Designation: Finance Director Number of forfeitable shares awarded: 38 850 Barloworld ordinary shares, of which 29 140 Barloworld shares will vest subject to achievement of performance conditions; Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R2 962 312.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of Company Secretary: Lerato Manaka Name of company: Barloworld Limited Designation: Group Company Secretary Number of forfeitable shares awarded: 7 030 Barloworld ordinary shares, of which 1 760 Barloworld shares will vest subject to achievement of performance conditions; Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R536 037.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Executive Directors of Barloworld South Africa (Pty) Limited: Name of director of major subsidiary: Sibani Mngomezulu Designation: Director of major subsidiary Name of company: Barloworld South Africa (Pty) Limited Number of forfeitable shares awarded: 23 200 Barloworld ordinary shares, of which 5 800 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R1 769 000.00 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Gale Lemmert Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 10 890 Barloworld ordinary shares, of which 2 720 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R830 362.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Litha Nkombisa Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 15 010 Barloworld ordinary shares, of which 3 750 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R1 144 512.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Emmanuel Leeka Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 28 290 Barloworld ordinary shares, of which 7 070 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R2 157 112.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Matthew Govender Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 12 070 Barloworld ordinary shares, of which 3 020 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R920 337.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Sameshan Moodley Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 14 610 Barloworld ordinary shares, of which 3 650 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R1 114 012.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Name of director of major subsidiary: Boikanyo Mazibuko Major subsidiary: Barloworld South Africa (Pty) Limited Designation: Director Number of forfeitable shares awarded: 12 450 Barloworld ordinary shares, of which 3 110 Barloworld shares will vest subject to achievement of performance conditions Consideration Nil Average price at which shares were awarded: R76.25 Vesting period: Three years from award date Value: R949 312.50 Date of award: 30 March 2016 Nature of transaction: Direct beneficial interest Approximately 75% of the shares awarded to executive directors of Barloworld Limited and approximately 25% of the shares awarded to the company secretary of Barloworld Limited and the directors of Barloworld South Africa (Pty) Ltd are subject to performance conditions. The performance conditions include performance targets for improvement in return on net operating assets (RONOA), total shareholder return (TSR) and growth in headline earnings per share (HEPS). The remaining 25% and 75%, respectively, of the shares awarded are for retention purposes and subject to continued employment over a 3 year period. The necessary clearance in terms of paragraph 3.66 of the JSE Listings Requirements has been obtained. Barloworld shareholders approved a forfeitable share plan ('FSP') at the company`s annual general meeting on 28 January 2010. The FSP is designed to align the objectives of Barloworld senior management with the interests of shareholders. The allocation of forfeitable shares was determined by the Barloworld remuneration committee on a market related basis. Sandton 1 April 2016 Sponsor: JP Morgan Equities South Africa (Pty) Limited Date: 01/04/2016 05:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. | |
Barloworld Ltd. issued this content on 01 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 April 2016 15:54:28 UTC
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