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JOHANNESBURG - AECI Limited announced Tuesday that its Executive Vice President of AECI Mining, S Miller, has accepted an award of performance shares under the company’s Long-term Incentive Plan (LTIP).
According to a company statement, Miller accepted the performance shares on September 1, with the shares set to convert into AECI ordinary shares upon meeting specific performance conditions. The award includes multiple tranches with different vesting dates and grant prices.
The largest allocation consists of 94,214 performance shares granted at R92.90 per share, valued at approximately R8.75 million, scheduled to vest on March 28, 2028. Additional allocations include 42,884 shares at R107.15 per share vesting on March 26, 2026, and two smaller tranches at R92.90 per share vesting in March 2026 and March 2027.
The total value of the performance share award amounts to approximately R14.99 million. AECI confirmed that the transaction was conducted off-market and represents a direct beneficial interest in the company.
The company stated that proper clearance for the transaction was obtained in accordance with the JSE Limited Listings Requirements. AECI is listed on the Johannesburg Stock Exchange under the share code AFE.
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