Enhanced Investments - Financial Portal

Settlement of awards under KAL Group's long-term incentive plan

Published: 2025-01-20 18:00:32 ET

KAL GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
ISIN: ZAE000244711
Share code: KAL
(“KAL Group” or the “Company”)



SETTLEMENT OF AWARDS UNDER KAL GROUP’S LONG-TERM INCENTIVE PLAN


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the vesting, automatic exercise and after-tax net-equity
settlement of awards in terms of the KAL Group Long-term Incentive Plan (“LTIP”), is disclosed:

1.
     NAME OF DIRECTOR                              S Walsh

     COMPANY OF WHICH A DIRECTOR                   KAL Group

     STATUS: EXECUTIVE/NON-EXECUTIVE               Executive

     TYPE AND CLASS OF SECURITIES                  Nil-cost options (“NCOs”) in relation to
                                                   ordinary shares

     NATURE OF TRANSACTION                         Vesting, automatic exercise and after-tax
                                                   net-equity settlement of NCOs, resulting
                                                   in the delivery of ordinary shares to a
                                                   participant under the LTIP (off-market
                                                   transaction)

     TRANSACTION DATE                              20 January 2025
     (VESTING, EXERCISE AND SETTLEMENT)

     NUMBER OF NCOs VESTED                         57 014

     TOTAL VALUE OF NCOs VESTED                    R2 884 574.43, based on a deemed value
                                                   of R50.59 per NCO

     NUMBER OF ORDINARY SHARES                     31 357
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)

     NATURE AND EXTENT OF INTEREST IN              Direct, beneficial
     THE TRANSACTION



2.
     NAME OF DIRECTOR                              GW Sim

     COMPANY OF WHICH A DIRECTOR                   KAL Group

     STATUS: EXECUTIVE/NON-EXECUTIVE               Executive

     TYPE AND CLASS OF SECURITIES                  NCOs in relation to ordinary shares
     NATURE OF TRANSACTION                Vesting, automatic exercise and after-tax
                                          net-equity settlement of NCOs, resulting
                                          in the delivery of ordinary shares to a
                                          participant under the LTIP (off-market
                                          transaction)

     TRANSACTION DATE                     20 January 2025
     (VESTING, EXERCISE AND SETTLEMENT)

     NUMBER OF NCOs VESTED                23 680

     TOTAL VALUE OF NCOs VESTED           R1 198 069.29, based on a deemed value
                                          of R50.59 per NCO

     NUMBER OF ORDINARY SHARES            13 024
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)

     NATURE AND EXTENT OF INTEREST IN     Direct, beneficial
     THE TRANSACTION


3.
     NAME OF DIRECTOR                     DC Gempies

     COMPANY OF WHICH A DIRECTOR          Agrimark Operations Limited
                                          (a major subsidiary of KAL Group)

     STATUS: EXECUTIVE/NON-EXECUTIVE      Executive

     TYPE AND CLASS OF SECURITIES         NCOs in relation to ordinary shares

     NATURE OF TRANSACTION                Vesting, automatic exercise and after-tax
                                          net-equity settlement of NCOs, resulting
                                          in the delivery of ordinary shares to a
                                          participant under the LTIP (off-market
                                          transaction)

     TRANSACTION DATE                     20 January 2025
     (VESTING, EXERCISE AND SETTLEMENT)

     NUMBER OF NCOs VESTED                13 274

     TOTAL VALUE OF NCOs VESTED           R671 586.65, based on a deemed value
                                          of R50.59 per NCO

     NUMBER OF ORDINARY SHARES            7 300
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)

     NATURE AND EXTENT OF INTEREST IN     Direct, beneficial
     THE TRANSACTION
4.
     NAME OF DIRECTOR                     H Smit

     COMPANY OF WHICH A DIRECTOR          Agrimark Operations Limited
                                          (a major subsidiary of KAL Group)

     STATUS: EXECUTIVE/NON-EXECUTIVE      Executive

     TYPE AND CLASS OF SECURITIES         NCOs in relation to ordinary shares

     NATURE OF TRANSACTION                Vesting, automatic exercise and after-tax
                                          net-equity settlement of NCOs, resulting
                                          in the delivery of ordinary shares to a
                                          participant under the LTIP (off-market
                                          transaction)

     TRANSACTION DATE                     20 January 2025
     (VESTING, EXERCISE AND SETTLEMENT)

     NUMBER OF NCOs VESTED                12 289

     TOTAL VALUE OF NCOs VESTED           R621 751.42, based on a deemed value
                                          of R50.59 per NCO

     NUMBER OF ORDINARY SHARES            6 758
     RECEIVED (POST-TAX NET EQUITY
     SETTLEMENT)

     NATURE AND EXTENT OF INTEREST IN     Direct, beneficial
     THE TRANSACTION


5.
     NAME OF DIRECTOR                     T Sulaiman-Bray

     COMPANY OF WHICH A DIRECTOR          Agrimark Operations Limited
                                          (a major subsidiary of KAL Group)

     STATUS: EXECUTIVE/NON-EXECUTIVE      Executive

     TYPE AND CLASS OF SECURITIES         NCOs in relation to ordinary shares

     NATURE OF TRANSACTION                Vesting, automatic exercise and after-tax
                                          net-equity settlement of NCOs, resulting
                                          in the delivery of ordinary shares to a
                                          participant under the LTIP (off-market
                                          transaction)

     TRANSACTION DATE                     20 January 2025
     (VESTING, EXERCISE AND SETTLEMENT)

     NUMBER OF NCOs VESTED                10 254

     TOTAL VALUE OF NCOs VESTED           R518 792.34, based on a deemed value
                                          of R50.59 per NCO
  NUMBER OF ORDINARY SHARES                     5 639
  RECEIVED (POST-TAX NET EQUITY
  SETTLEMENT)

  NATURE AND EXTENT OF INTEREST IN              Direct, beneficial
  THE TRANSACTION



Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Paarl
20 January 2025

Sponsor
PSG Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.