KAP LIMITED - Exercise And Related Settlement Of Options In Terms Of The Kap Performance Share Rights Scheme

Exercise And Related Settlement Of Options In Terms Of The Kap Performance Share Rights Scheme

KAP LIMITED
(former name KAP Industrial Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company')

EXERCISE AND RELATED SETTLEMENT OF OPTIONS IN TERMS OF THE KAP PERFORMANCE SHARE
RIGHTS SCHEME

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information
regarding the exercise of options by certain executive directors of KAP and of its major subsidiaries and the related
settlement thereof, in terms of the KAP Performance Share Rights Scheme ("KAP SRS"), is disclosed.

Upon the exercise of the options referred to below, the Company and the beneficiaries elected to settle same on
an after-tax net-equity basis, through the issue of ordinary shares as detailed below:

 NAME OF DIRECTOR                                        GN Chaplin                                            (1)
                                                         FH Olivier                                            (2)
                                                         SP Lunga                                              (3)
                                                         G Victor                                              (4)
                                                         W Killian                                             (5)
                                                         JN van Niekerk                                        (6)
                                                         WC Els                                                (7)

 COMPANY OF WHICH A DIRECTOR                             KAP Ltd                                             (1-3)
                                                         PG Bison (Pty) Ltd*                                 (4-5)
                                                         Safripol (Pty) Ltd*                                 (6-7)
                                                         * major subsidiary of the Company

 STATUS: EXECUTIVE/NON-EXECUTIVE                         Executive                                           (1-7)

 TYPE AND CLASS OF SECURITIES                            Ordinary shares                                     (1-7)

 NATURE OF TRANSACTION                                   Exercise of options by the director and related
                                                         after-tax net-equity settlement by way of the
                                                         issue of ordinary shares to the director
                                                         (off-market transaction)                            (1-7)

 VESTING DATE OF OPTIONS EXERCISED                       1 December 2023                                     (1-7)

 DATE OF EXERCISE OF OPTIONS                             1 December 2023                                     (1-7)

 OPTION STRIKE PRICE                                     R0.20                                               (1-7)


 NUMBER OF OPTIONS EXERCISED                             3 210 657                                             (1)
                                                         1 952 427                                             (2)
                                                         1 043 138                                             (3)
                                                         1 209 388                                             (4)
                                                           376 875                                             (5)
                                                         1 825 490                                             (6)
                                                           738 051     
                                                                                                               (7)
 NUMBER OF ORDINARY SHARES ISSUED                        1 765 861                                             (1)
                                                         1 073 834                                             (2)
                                                           573 725                                             (3)
                                                           665 163                                             (4)
                                                           207 281                                             (5)
                                                         1 004 019                                             (6)
                                                           405 928                                             (7)

 NATURE AND EXTENT OF INTEREST IN THE                    Direct, beneficial                                    (1-7)
 TRANSACTION

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

Stellenbosch
4 December 2023

Sponsor
PSG Capital

Date: 04-12-2023 10:00:00
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