METAIR INVESTMENTS LIMITED
(Reg No. 1948/031013/06) (Incorporated in the Republic of South Africa)
Share code: MTA
ISIN code: ZAE000090692 ("Metair" or the "Company")
DEALINGS IN SECURITIES
In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements ("Listings Requirements"), the following transactions by directors of Metair and its major subsidiaries and Metair's company secretary ("Participants") are hereby disclosed.
1. ALLOCATION OF PERFORMANCE SHARES
The terms and conditions of the performance shares ("Performance Shares") are:
Date of award | 1 April 2022 |
Number of Performance Shares awarded to Participants | 533 486 |
Price paid per Performance Share | Nil |
Total value of transaction | Nil |
Allocation price per Performance Share | R27.79 being the 20-day volume weighted average price ("VWAP") as at 31 March 2022 |
Class of securities | Ordinary shares |
Nature of transaction | Acceptance of Performance Shares |
Vesting date | 1 April 2025 |
Vesting period | Performance Shares vest on the third anniversary of the award date to the extent that the Company's performance criteria during the intervening period has been met. |
Transaction completed: | Off-market |
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements | Yes |
The details of the allocation of the Performance Shares per Participant are set out below. The nature of the interest of all Participants is direct beneficial.
Director | Company name | No. of Performance Shares accepted | Deemed value of Performance Shares (Rand) |
Mr D. Seker | Mutlu Holding Anonim Sirketi | 40 783 | 1 133 359.57 |
Mr B. Eser | Mutlu Holding Anonim Sirketi | 16 932 | 470 540.28 |
Ms S. Emiroglu | Mutlu Holding Anonim Sirketi | 17 410 | 483 823.90 |
Mr Y. Kaptan | Mutlu Holding Anonim Sirketi | 18 385 | 510 919.15 |
Mr M. Isiltan | Mutlu Holding Anonim Sirketi | 18 448 | 512 669.92 |
Mr D. Gunes | Mutlu Holding Anonim Sirketi | 16 937 | 470 679.23 |
Mr T. Korlu | Mutlu Holding Anonim Sirketi | 16 221 | 450 781.59 |
Mr B. Sen | Mutlu Holding Anonim Sirketi | 17 099 | 475 181.21 |
Mr B. Erol | Mutlu Holding Anonim Sirketi | 16 857 | 468 456.03 |
Mr I. Atay Rodoplu | Mutlu Holding Anonim Sirketi | 10 916 | 303 355.64 |
Mr R. Haffejee | Metair | 148 042 | 4 114 087.18 |
Mr S. Douwenga | Metair | 99 569 | 2 767 022.51 |
Mr A. Jogia | Metair | 20 429 | 567 721.91 |
Ms T. Marcus | Metair | 26 988 | 749 996.52 |
Ms S.M. Vermaak | Metair | 24 595 | 683 495.05 |
Ms M. Mail | Metair | 12 724 | 353 599.96 |
Ms S. Banda | Metair | 11 151 | 309 886.29 |
2. VESTING, EXERCISE AND SALE OF PERFORMANCE SHARES
On 3 April 2019, Performance Shares were conditionally granted to certain Participants, in accordance with the Metair Investments Limited 2009 Share Plan. These Performance Shares have vested and have been exercised by the Participants pursuant to which the Participants received Metair ordinary shares ("Shares") at no cost, as per the table below. The nature of the interest of the Participants is direct beneficial.
DETAILS OF VESTING AND EXERCISE OF PERFORMANCE SHARES | |
Total number of Shares exercised/settled | 106 549 |
Deemed value of Performance Shares on exercise | R2 965 258.67 at a price of R27.83, being the 20-day VWAP as at 4 April 2022 |
Class of Securities | Ordinary shares |
Nature of transaction | Settlement of Performance Shares |
Date of Award | 3 April 2019 |
Date of Performance Shares exercised/settled | 5 April 2022 |
Vesting period | Performance Shares vest on the third anniversary of the award date to the extent that the Company's performance criteria during the intervening period has been met. |
Transaction completed: | Off-market |
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements | Yes |
In order to facilitate the disposal of these Shares received by the Participants in an orderly fashion, the Participants have entered into a pooled sale in terms of which the Participant's Shares were disposed through arranged on-market trades on
5 April 2022, as per the table below:
DETAILS OF SALE OF SHARES | |
Nature of transaction | On-market sale of shares |
Class of Share | Ordinary shares |
Price per Share | Various different trades with the following price information:
|
Total number of Shares sold | 106 549 |
Total value of Shares sold | R3 198 909.97 |
Clearance obtained in terms of paragraph 3.66 of the Listings Requirements | Yes |
Details of the exercise of the Performance Shares, the related receipt of Shares and sale of Shares per Participant are tabled below:
Director | Company Name | No. of Performance Shares exercised | Deemed value of Performance Shares (Rand) | No. of Shares sold | Value of Shares sold (Rand) |
Mr D. Seker | Mutlu Holding Anonim Sirketi | 11 500 | 320 045.00 | 11 500 | 345 263.35 |
Mr Y. Kaptan | Mutlu Holding Anonim Sirketi | 14 636 | 407 319.88 | 14 636 | 439 415.16 |
Ms S. Emiroglu | Mutlu Holding Anonim Sirketi | 9 224 | 256 703.92 | 9 224 | 276 931.23 |
Mr S. Douwenga | Metair | 43 871 | 1 220 929.93 | 43 871 | 1 317 134.65 |
Mr A. Jogia | Metair | 12 774 | 355 500.42 | 12 774 | 383 512.52 |
Ms S.M. Vermaak | Metair | 14 544 | 404 759.52 | 14 544 | 436 653.06 |
Johannesburg 6 April 2022
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Metair Investments Limited published this content on 06 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2022 09:01:04 UTC.