AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Allocation of 2021 Share Options and Share Appreciation Rights, in terms of the Altron 2009 Share Plan
Allocation of 2021 Share Options and Share Appreciation Rights, in terms of the Altron 2009 Share Plan
ALLIED ELECTRONICS CORPORATION LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
("Altron" or "Altron Group")
ALLOCATION OF 2021 SHARE OPTIONS AND SHARE APPRECIATION RIGHTS ("SARS"), IN TERMS OF THE
ALTRON 2009 SHARE PLAN AND UPDATED INFORMATION IN RESPECT OF THE ANNOUNCEMENT
RELEASED ON SENS ON 23 FEBRUARY 2021
In compliance with rule 3.63 of the JSE Listings Requirements, the following information is
disclosed:
The participants set out below have been awarded Share Appreciation Rights ("SARs") at an allocation
price of R11.71 in accordance with the rules of The Altron 2009 Share Plan. The SARs are conditional on,
inter alia, share price growth and the fulfilment of performance criteria, as imposed by the Altron Board.
Subject to performance, vesting will occur in tranches of three in February 2024, February 2025 and
February 2026.
Director: Mr. Mteto Nyati
Designation: Executive Director - Chief Executive Officer
Company: Altron
Transaction date: 25 February 2021
Number of SARs allocated: 489,339
Nature of interest: Direct Beneficial
Director: Mr. Cedric Miller
Designation: Executive Director - Chief Finance Officer
Company: Altron
Transaction date: 25 February 2021
Number of SARs allocated: 225,188
Nature of interest: Direct Beneficial
Director: Mr. Andrew Holden
Designation: Director and Prescribed Officer of Altron Group
Company: Altron TMT Holdings (Pty) Limited (major subsidiary of Altron)
Transaction date: 25 February 2021
Number of SARs allocated: 248,366
Nature of interest: Direct Beneficial
Director: Mr. Colin Govender
Designation: Executive Director
Company: Altron TMT Holdings (Pty) Limited (major subsidiary of Altron)
Transaction date: 25 February 2021
Number of SARs allocated: 159,403
Nature of interest: Direct Beneficial
Company Secretary: Ms. Nicole Morgan
Designation: Group Company Secretary
Company: Altron
Transaction date: 25 February 2021
Number of SARs allocated: 68,807
Nature of interest: Direct Beneficial
Allocation date of the above transactions - 25 February 2021
Acceptance date of above transactions - 26 February 2021
UPDATED ANNOUNCEMENT ALLOCATION AND VESTING OF 2018 SHARE APPRECIATION RIGHTS
("SARS") AND BONUS SHARES IN TERMS OF THE ALTRON 2009 SHARE PLAN
Shareholders are referred to the SENS announcement published on 23 February 2021 and with specific
reference to the vesting of 2018 SARS and the allocation of bonus shares to identified director´s;
prescribed officers; the Company Secretary and/or directors of major subsidiaries of the Altron Group.
In line with The Altron 2009 Share Plan Rules ("the Rules") the Board has withdrawn the vesting of the
2018 SARS and 2018 bonus shares previously allotted to the identified director´s; prescribed officers; the
Company Secretary and/or directors of major subsidiaries of the Altron Group. The Board has agreed to
defer the vesting of the 2018 SARS and bonus shares to June 2021 in line with the Rules. An announcement
will be made in June with updated information on the vesting of the 2018 SARS and 2018 bonus shares.
Johannesburg
26 February 2021
Sponsor: Investec Bank Limited
Date: 26-02-2021 05:00:00
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