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Acceptance Of Awards Under KAL’s Long-Term Incentive Plan
KAL GROUP 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)
Agrimark Operations Limited (1) – (6)
(a major subsidiary of KAL)
("Agrimark")
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 Agrimark (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 2024 (1) – (7)
DATE OF ACCEPTANCE OF OPTIONS 24 May 2024 (1) – (7)
PRICE AT WHICH OPTIONS AWARDED Nil cost (1) – (7)
NUMBER OF OPTIONS ACCEPTED 256 371 (1)
134 450 (2)
84 010 (3)
87 756 (4)
73 906 (5)
106 432 (6)
99 211 (7)
DEEMED TOTAL RAND VALUE OF R12 303 244.29 (1)
OPTIONS ACCEPTED, BASED ON THE R6 452 255.50 (2)
COMPANY'S CLOSING SHARE PRICE ON R4 031 639.90 (3)
23 MAY 2024, BEING R47.99
R4 211 410.44 (4)
R3 546 748.94 (5)
R5 107 671.68 (6)
R4 761 135.89 (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 2024
Sponsor
PSG Capital
Date: 24-05-2024 10:40:00
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