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JOHANNESBURG - AECI Limited’s Chief Financial Officer, I Kramer, has accepted an award of 64,047 performance shares valued at approximately R5.95 million, according to a company statement released Tuesday.
The performance shares were issued at a grant price of R92.90 per share on Tuesday as part of the company’s Long-term Incentive Plan (LTIP). The shares will convert into AECI ordinary shares and vest three years after the April 14, 2025 grant date, subject to meeting specified performance conditions.
The transaction was executed off-market and represents a direct beneficial interest in the company. AECI confirmed that the required clearance for the transaction was obtained in accordance with the JSE Limited Listings Requirements.
AECI Limited (JSE:AFE) is a South African company that made the disclosure in compliance with the JSE Limited Listings Requirements regarding dealings in securities by directors.
The company statement indicated that the performance share allocation is part of an annual award process conducted under the standard rules of the company’s LTIP.
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