Capital Appreciation Limited has awarded Conditional Share Awards to its Executive Directors in line with the 2020 Capital Appreciation Conditional Share Plan.
Executive Directors Granted Conditional Share Awards
The Executive Directors receiving Conditional Share Awards are Michael Reuven Pimstein, Bradley Jonathan Sacks, Alan Charles Salomon, and Michael Brain Shapiro. The awards are based on performance conditions and continued employment until 2027.
Table 1: Details of Conditional Share Awards
| Executive Director Name | Company | Number of Ordinary Shares | Total Value of Award (R) |
|---|---|---|---|
| Michael Reuven Pimstein | Capital Appreciation Limited | 1,322,314 | 1,600,000 |
| Bradley Jonathan Sacks | Capital Appreciation Limited | 1,322,314 | 1,600,000 |
| Alan Charles Salomon | Capital Appreciation Limited | 1,322,314 | 1,600,000 |
| Michael Brain Shapiro | Capital Appreciation Limited | 743,802 | 900,000 |
| Donn Engelbrecht | African Resonance Business Solutions | 826,446 | 1,000,000 |
| Benjamin Powell | Dashpay Proprietary Limited | 413,223 | 500,000 |
| Steyn Basson | Synthesis Software Technologies Proprietary Limited | 743,802 | 900,000 |
| Barry Kruger | African Resonance Business Solutions | 413,223 | 500,000 |
Nature of Awards and Clearance
These awards are off-market grants made pursuant to the Plan and are subject to performance metrics and continued employment. The nature and extent of directors’ interests are directly beneficial.
Vesting and Settlement
The Conditional Share Awards will vest on 14 June 2027, subject to meeting specified conditions. Settlement of the awards will be through market purchase of ordinary shares.
Financial Details and Clearance
The fair value of ordinary shares at the grant date, using the three-day volume weighted average price of R1.21 per share, determines the total value of the awards. The company has received clearance to grant these awards.
Conclusion
Capital Appreciation Limited’s granting of Conditional Share Awards underscores its commitment to aligning executive compensation with performance and long-term company growth.