AVENG LIMITED AEG 201712210052A
Dealings In Securities by Directors and Subsidiary Directors in terms of the Aveng Long Term Incentive Plan (LTIP).
AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
('Aveng' or 'the Group')
DEALINGS IN SECURITIES BY DIRECTORS AND SUBSIDIARY DIRECTORS IN TERMS OF
THE AVENG LONG TERM INCENTIVE PLAN (LTIP).
Awards were made on 21 December 2017 in terms of the 2018 Special
Incentive Award Scheme ('Scheme') which provides for the award of
performance and retention shares as well as under the Aveng Long Term
Incentive Plan which provides for the award of bonus shares. All the
awards are for the direct beneficial interests of directors.
Long Term Incentive Plan ('LTIP')
Schedule 14 of the JSE Limited Listings Requirements applies to the LTIP
Performance, Retention and Bonus Share awards made under the scheme in
this instance, as they are settled by way of utilising currently
available treasury shares.
Long Term Incentive Plan Performance Shares awarded to and accepted by
Directors and Subsidiary Directors:
Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 840 011 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 1 755 623
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 857 215 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 1 791 580
Acceptance date: 21 December 2017
Name of subsidiary director: MH Nana
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 287 081 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 600 000
Acceptance date: 21 December 2017
In terms of the rules of the Scheme, the vesting period is three (3)
years from the date of award and vesting is subject to the satisfaction
of performance conditions and continued employment by the recipients.
Long Term Incentive Plan Retention Shares awarded to and accepted by
Directors and Subsidiary Directors:
Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 441 006 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 921 702
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 450 038 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 940 580
Acceptance date: 21 December 2017
Name of subsidiary director: MH Nana
Company: Aveng (Africa) (Pty) Limited
Forfeitable shares awarded: 150 718 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 315 000
Acceptance date: 21 December 2017
In terms of the rules of the Scheme, the vesting period is three (3)
years from the date of award and vesting is subject to continued
employment by the recipients.
Bonus Shares, which are the deferred portion of the Short-Term
Incentive, awarded to and accepted by Directors and Subsidiary
Directors:
Name of director: AH Macartney
Company: Aveng Limited
Forfeitable shares awarded: 126 373 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 264 120
Acceptance date: 21 December 2017
Name of director: JJA Mashaba
Company: Aveng Limited
Forfeitable shares awarded: 125 895 ordinary shares
Date of transaction: 21 December 2017
Award price per share: R 2.09
Total value: R 263 120
Acceptance date: 21 December 2017
In terms of the rules of the LTIP, vesting of the award takes place over
three (3) years, where vesting occurs in three (3) equal tranches in
year one (1), year two (2) and year three (3). Vesting is subject to
continued employment by the recipients.
The necessary clearance in terms of paragraph 3.66 of the JSE Listings
Requirements has been obtained.
21 December 2017
Sponsor: UBS South Africa (Pty) Limited
Date: 21/12/2017 03:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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information disseminated through SENS.
Aveng Ltd. published this content on 21 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 December 2017 13:59:06 UTC.
Original documenthttp://www.aveng.co.za/news-media/sens/aveng-limited-dealings-securities-directors-and-subsidiary-directors-terms-aveng
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