Hulamin Limited, a South African company, announces the vesting and subsequent partial disposal of Performance Shares awarded to Executive Director M Gounder.
Vesting Details:
- Recipient: M Gounder
- Date of Award: 1 September 2021
- Date of Vesting: 27 May 2024
- Number of Performance Shares Vested: 349,070
- Issue Price: Rnil (Free of charge)
Disposal Details:
- Date of Disposal: 19 June 2024
- Number of Performance Shares Disposed: 158,151
- Price per Share: R3.60
- Total Value of Disposal: R569,343.60
Transaction Breakdown: The vesting date for the Performance Shares awarded to Executive Director M Gounder was 27 May 2024. This transaction involved 349,070 Performance Shares with an issue price of Rnil, resulting in a notional value of R1,343,919.50 based on an implied price of R3.85 per Hulamin share, which was the closing price immediately preceding the vesting date.
On-Market Disposal: On 19 June 2024, a total of 158,151 Performance Shares were disposed of on the market at a price of R3.60 per share, amounting to a total value of R569,343.60. This disposal was executed by a director of Hulamin, representing a direct beneficial interest.
Clearance and Compliance: Clearance to deal was obtained for this transaction, ensuring compliance with regulatory requirements. The transaction was a combination of off-market delivery of Performance Shares and subsequent on-market partial disposal.
Implications and Analysis: This transaction signifies the realization of Performance Shares awarded under Hulamin’s Equity-Settled Conditional Share Plan. The partial disposal on the market indicates a strategic decision by the director, potentially influenced by market conditions or personal financial strategies.
Conclusion
Hulamin Limited’s announcement regarding the vesting and subsequent partial disposal of Performance Shares reflects ongoing executive compensation practices and financial decision-making within the company. Investors and stakeholders may analyze these transactions in the context of broader market dynamics and corporate governance principles.