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ADCOCK INGRAM HOLDINGS LIMITED - Acceptance of conditional share award allocations under the Companys Performance Based Long-Term Incentive Scheme

Release Date: 25/02/2021 15:48
Code(s): AIP     PDF:  
Wrap Text
Acceptance of conditional share award allocations under the Company’s Performance Based Long-Term Incentive Scheme

Adcock Ingram Holdings Limited
(Registration number 2007/016236/06)
(Incorporated in the Republic of South Africa)
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram” or the “Company”)


The following annual allocations of conditional shares have been awarded to executive directors of
Adcock Ingram on 25 November 2020 at a market value of R43.80* and accepted off-market by them
on 24 February 2021, respectively, in accordance with the PBLTIS rules. Vesting, which occurs after
three years, is subject to the achievement of certain performance conditions. Performance will be
measured over the 3-year performance period commencing 1 July 2020 and ending 30 June 2023.

Executive Directors                 Scheme           Number of                                   Deemed
                                                   conditional                              transaction
                                                  share awards                                  value**
Andrew Hall                         PBLTIS             189 800                               R8,218,340
Dorette Neethling                   PBLTIS              92 000                               R3,983,600
Basadi Letsoalo                     PBLTIS              83 300                               R3,606,890

*Market value means the volume weighted average price of an Adcock Ingram share as quoted on the JSE for
the immediately preceding day prior to the grant of the shares being 24 November 2020.
**Based on the prevailing market price of an Adcock Ingram share of R43.30 as at 24 February 2021.

The nature and extent of the interest of the directors, which relates to the respective transactions as
outlined above, is direct and beneficial.

Clearance has been received in respect of the above transactions.

25 February 2021

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 25-02-2021 03:48:00
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