AFRIMAT LIMITED - Acceptance of shares in terms of (ito) the Afrimat FSP and share appreciation rights ito Afrimat SAR Scheme

Acceptance of shares in terms of (“ito”) the Afrimat FSP and share appreciation rights ito Afrimat SAR Scheme

 AFRIMAT LIMITED
 Incorporated in the Republic of South Africa
 (Registration number: 2006/022534/06)
 Share code: AFT
 ISIN: ZAE000086302
 (“Afrimat” or “the Company”)


ACCEPTANCE OF SHARES IN TERMS OF (“ITO”) THE AFRIMAT FORFEITABLE SHARE
PLAN AND SHARE APPRECIATION RIGHTS ITO THE SHARE APPRECIATION RIGHTS
SCHEME


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information is disclosed:

AFRIMAT FORFEITABLE SHARE PLAN (“FSP”)

NAME OF DIRECTOR(S)                            Andries J van Heerden (1)
                                               Collin Ramukhubathi   (2)
                                               Marthinus G Odendaal  (3)
                                               Pieter GS De Wit      (4)


COMPANY OF WHICH A DIRECTOR                    Afrimat Limited (1 – 4)


STATUS: EXECUTIVE/NON-EXECUTIVE                Executive (1 – 4)


TYPE AND CLASS OF SECURITIES                   Ordinary shares (1 – 4)


NATURE OF TRANSACTION                          Acceptance of award of ordinary shares in
                                               terms of the Afrimat Forfeitable Share Plan
                                               (off-market transaction) (1 – 4)


DATE OF ACCEPTANCE OF AWARD                    30 May 2023 (1 – 4)


DATE OF VESTING                                15 May 2026 (1 – 4)
                                               (Subject to the fulfilment of vesting
                                               conditions)


DEEMED PRICE PER SHARE                         R51.96 (1 – 4)
                                               (based on the 30 day volume weighted
                                               average price (“VWAP”) on 16 May 2023)


NUMBER OF SECURITIES ACQUIRED                  95 000 (1)
                                               62 500 (2)
                                               62 500 (3)
                                               62 500 (4)


DEEMED TOTAL RAND VALUE OF                     R 4 936 200 (1)
SECURITIES TRANSACTED                          R 3 247 500 (2)
                                               R 3 247 500 (3)
                                               R 3 247 500 (4)
                                               (based on the 30 day VWAP on 16 May 2023)

NATURE AND EXTENT OF INTEREST IN               Direct, beneficial
THE TRANSACTION


SHARE APPRECIATION RIGHT (“SAR”) SCHEME

NAME   OF   DIRECTOR(S)/   COMPANY             Andries J van Heerden (1)
SECRETARY                                      Collin Ramukhubathi   (2)
                                               Marthinus G Odendaal  (3)
                                               Pieter GS De Wit      (4)
                                               Catharine Burger      (5)


COMPANY OF WHICH A DIRECTOR/                   Afrimat Limited (1 – 5)
COMPANY SECRETARY

STATUS: EXECUTIVE/NON-EXECUTIVE                Executive (1 – 5)


TYPE AND CLASS OF SECURITIES                   Share Appreciation Rights (1 – 5)


NATURE OF TRANSACTION                          Acceptance of award of share appreciation
                                               rights in terms of the Afrimat Share
                                               Appreciation Right Share Scheme (off-
                                               market transaction) (1 – 5)


DATE OF ACCEPTANCE OF AWARD                    30 May 2022 (1 – 5)


DATE OF VESTING                                15 May 2026 (1 – 5)
                                               (Subject to fulfilment of performance
                                               conditions)


AWARD PRICE PER RIGHT                          R51.96 (1 – 5)
                                               (based on the 30 day VWAP on 16 May
                                               2023)


NUMBER OF SAR’s AWARDED                        295 000 (1)
                                               125 000 (2)
                                               125 000 (3)
                                               125 000 (4)
                                               15 000  (5)
 
NATURE AND EXTENT OF INTEREST IN               Direct, beneficial
THE TRANSACTION


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


Cape Town
31 May 2023


Sponsor
Valeo Capital (Pty) Ltd

Date: 31-05-2023 10:00:00
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