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Dealing in Securities Pursuant to Long-Term Share Incentive Schemes
Spur Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share code: SUR
ISIN: ZAE 000022653
("Spur Corporation" or "the Company")
DEALING IN SECURITIES PURSUANT TO LONG-TERM SHARE INCENTIVE SCHEMES
Share Appreciation Rights ("SARs") vested in accordance with the 2020 SAR Scheme
In compliance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings
Requirements, details of the following transactions relating to equity-settled SARs previously awarded
to executive directors of the Company ("Executive Directors") and the Company Secretary on 7 October
2021 ("Award Date") (as announced on SENS on 11 October 2021) in terms of the 2020 SAR Scheme,
should be noted:
Name: Val Nichas
Designation: Executive Director
Vesting Date of SARs: 7 October 2024
Number of SARs vested: 521 229
Nature of transaction: Off market vesting of SARs in accordance with the
2020 SAR Scheme
Strike price of SARs awarded (per right): R19.14 (being the 10-day volume-weighted average
price at 6 October 2021)
Deemed vesting price (per right): R16.86 (being the difference between the strike price
and the 1-day volume-weighted average price at 4
October 2024)
Deemed value of SARs: R8 787 921 (note 1)
Deemed number of resulting shares: 244 109 (note 1)
Prior permission to deal: Obtained
Nature of interest: Direct beneficial (note 1)
Name: Cristina Teixeira
Designation: Executive Director
Vesting Date of SARs: 7 October 2024
Number of SARs vested: 229 954
Nature of transaction: Off market vesting of SARs in accordance with the
2020 SAR Scheme
Strike price of SARs awarded (per right): R19.14 (being the 10-day volume-weighted average
price at 6 October 2021)
Deemed vesting price (per right): R16.86 (being the difference between the strike price
and the 1-day volume-weighted average price at 4
October 2024)
Deemed value of SARs: R3 877 024 (note 1)
Deemed number of resulting shares: 107 695 (note 1)
Prior permission to deal: Obtained
Nature of interest: Direct beneficial (note 1)
Name: Kevin Robertson
Designation: Executive Director
Vesting Date of SARs: 7 October 2024
Number of SARs vested: 175 133
Nature of transaction: Off market vesting of SARs in accordance with the
2020 SAR Scheme
Strike price of SARs awarded (per right): R19.14 (being the 10-day volume-weighted average
price at 6 October 2021)
Deemed vesting price (per right): R16.86 (being the difference between the strike price
and the 1-day volume-weighted average price at 4
October 2024)
Deemed value of SARs: R2 952 742 (note 1)
Deemed number of resulting shares: 82 021 (note 1)
Prior permission to deal: Obtained
Nature of interest: Direct beneficial (note 1)
Name: Donfrey Meyer
Designation: Company Secretary
Vesting Date of SARs: 7 October 2024
Number of SARs vested: 9 899
Nature of transaction: Off market vesting of SARs in accordance with the
2020 SAR Scheme
Strike price of SARs awarded (per right): R19.14 (being the 10-day volume-weighted average
price at 6 October 2021)
Deemed vesting price (per right): R16.86 (being the difference between the strike price
and the 1-day volume-weighted average price at 4
October 2024)
Deemed value of SARs: R166 897 (note 1)
Deemed number of resulting shares: 4 636 (note 1)
Prior permission to deal: Obtained
Nature of interest: Direct beneficial (refer note 2)
Note 1 – 2020 SAR Scheme participant rights to exercise and holding period:
• No further vesting criteria are applicable to shares resulting from the SARs detailed above.
• All SARs vested as detailed above must be exercised by participants on or before 6 October
2026.
• The actual value of the SARs and the resulting actual number of shares to be issued to the
participant, will be determined on the date on which SARs are exercised by each participant
("Exercise Date").
• With effect from the Exercise Date, the participants will enjoy full direct beneficial ownership of
the resulting shares, save to the extent that the Executive Directors will be contractually bound
to retain ownership of the shares for a two-year period ("Holding Period") following the Exercise
Date. Upon the termination of the Holding Period, the Executive Directors will be free to trade in
the resulting shares.
• The Holding Period remains applicable in the event of the participant no longer being employed
by the Company (with limited exceptions).
• Any unexercised SARs lapse on the date of termination of employment of the participant (if earlier
than 6 October 2026).
Note 2 – Malus and Clawback
• In accordance with the Company's Malus and Clawback Policy, Malus provisions will apply to
the SARs prior to the Exercise Date and Clawback provisions will apply to the resulting shares
for a period of three years following the Exercise Date.
Cape Town
8 October 2024
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 08-10-2024 03:31:00
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