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Acceptance Of Awards Under KAL’s Long-Term Incentive Plan
KAL GROUP LIMITED
(Previously Kaap Agri Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(“KAL” or “the Company”)
ACCEPTANCE OF AWARDS UNDER KAL’S LONG-TERM INCENTIVE PLAN
In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the deemed acceptance of awards granted under the KAL
long-term incentive plan (“LTIP”) is disclosed:
NAMES OF DIRECTORS S Walsh (1)
GW Sim (2)
DC Gempies (3)
HJ Smit (4)
T Sulaiman-Bray (5)
A Abeln (6)
LJ Abrams (7)
COMPANIES OF WHICH DIRECTORS KAL (1) – (2)
Kaap Agri Bedryf Limited (1) – (6)
(a major subsidiary
of KAL) (“Bedryf”)
TFC Operations Proprietary (1)(2)(5)(7)
Limited (a major subsidiary
of KAL) (“TFC”)
STATUS: EXECUTIVE/NON-EXECUTIVE Executive directors of KAL (1) - (2)
Executive directors of Bedryf (1) – (6)
Executive director of TFC (7)
Non-executive directors of TFC (1)(2)(5)
TYPE AND CLASS OF SECURITIES Options awarded under the (1) - (7)
LTIP to acquire ordinary
shares
NATURE OF TRANSACTION Acceptance of award of (1) – (7)
options to acquire
ordinary shares in terms
of the LTIP
(off-market transaction)
DATE OF AWARD OF OPTIONS 24 May 2023 (1) – (7)
DATE OF ACCEPTANCE OF OPTIONS 24 May 2023 (1) – (7)
PRICE AT WHICH OPTIONS AWARDED Nil cost (1) – (7)
NUMBER OF OPTIONS ACCEPTED 272 366 (1)
142 422 (2)
88 991 (3)
92 093 (4)
77 559 (5)
113 813 (6)
106 091 (7)
DEEMED TOTAL RAND VALUE OF R9 674 440.32 (1)
OPTIONS ACCEPTED, BASED ON THE R5 058 829.44 (2)
COMPANY’S CLOSING SHARE PRICE ON R3 160 960.32 (3)
23 MAY 2023
R3 271 143.36 (4)
R2 754 895.68 (5)
R4 042 637.76 (6)
R3 768 352.32 (7)
VESTING DATES OF OPTIONS Vesting in tranches of (1) – (7)
25% each on the later of:
• the 2nd, 3rd, 4th and 5th anniversary of
the date of award; and
• to the extent applicable, the date on
which the remuneration committee
determines that the performance
condition(s) has been met; and
• to the extent applicable, any other
conditions imposed have been satisfied
SETTLEMENT PERIOD Settlement in respect of (1) – (7)
the options to occur within
30 days of the applicable
vesting date
NATURE AND EXTENT OF INTEREST IN Direct, beneficial (1) – (7)
THE TRANSACTION
Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.
Paarl
24 May 2023
Sponsor
PSG Capital
Date: 24-05-2023 11:30:00
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