Metair Investments Limited (JSE:MTA) News - Directors’ dealings in securities

METAIR INVESTMENTS LIMITED
(Reg No. 1948/031013/06)
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE000090692
(“Metair”)

DIRECTORS’ DEALINGS IN SECURITIES

In accordance with the requirements of paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements
(“Listings Requirements”), the following on-market and off-market transactions by directors and the company
secretary of Metair and the directors of its major subsidiaries are hereby disclosed.

VESTING AND EXERCISE OF SHARE APPRECIATION RIGHTS AND SALE OF SHARES

On 26 November 2015, 25 November 2016, 27 November 2017 and 27 November 2018 Metair ordinary shares
("Shares") were conditionally granted (“Share Appreciation Rights”), to certain directors, the company secretary
of Metair and the directors of its major subsidiaries (“Participants”) in accordance with the Metair Investments
Limited 2009 Share Plan. These Share Appreciation Rights have partially vested and have been exercised by the
Participants pursuant to which the Participants received Shares at no cost.

Details of the exercise of the Share Appreciation Rights, the related receipt of Shares and sale of Shares are
provided below:

 DETAILS OF VESTING AND EXERCISE OF SHARE APPRECIATION RIGHTS

 Total number of Shares exercised                        70 314

 Deemed value of Share Appreciation Rights on            R23 645.44 million at a price of R29.12 per Share,
 exercise                                                being the previous day’s closing price as at
                                                         26 November 2021

                                                         R2 021 118.16 million at a price of R29.08 per Share,
                                                         being the 20-day volume weighted average price
                                                         (“VWAP”) as at 29 November 2021

 Class of securities                                     Ordinary shares 

 Nature of transaction                                   Off-market acquisition of Shares pursuant to the
                                                         exercise of Share Appreciation Rights at no cost

 Date of awards                                          26 November 2015, 25 November 2016,
                                                         27 November 2017 and 27 November 2018

 Date of Share Appreciation Rights exercise              26 November 2021, in respect of the award dated
                                                         26 November 2015.

                                                         29 November 2021, in respect of the awards dated
                                                         25 November 2016, 27 November 2017 and
                                                         27 November 2018.

 Vesting period                                          In equal thirds on the 3rd, 4th and 5th anniversaries but
                                                         need not be exercised until the 6th anniversary

 Clearance obtained in terms of paragraph 3.66 of the    Yes
 Listings Requirements

In order to facilitate the disposal of a portion of the Shares received by the Participants in an orderly fashion, the
Participants have entered into a pooled sale in terms of which the Participant's Shares were disposed of through
a single arranged on-market trade on 30 November 2021.

 DETAILS OF SALE OF SHARES

 Date of transaction                                     30 November 2021
 
 Nature of transaction                                   Off-market sale of Shares
 
 Class of Share                                          Ordinary shares
 
 Price per Share                                         R26.89
 
 Total number of Shares sold                             61 682
 
 Total value of Shares sold                              R1 658 629
 
 Clearance obtained in terms of paragraph 3.66 of        Yes
 the Listings Requirements

Further details of the exercise of the Share Appreciation Rights, the related receipt of Shares and sale of Shares
by each of the Participants are tabled below. The nature of the interest of all Participants is direct beneficial.

 Director              Company                No. of Share              Deemed           No. of           Value of
                       name                   Appreciation            value of           Shares        Shares sold
                                                    Rights               Share             sold             (Rand)
                                                 exercised        Appreciation
                                                                        Rights
                                                                     exercised
                                                                        (Rand)

 Mr D. Seker           Mutlu Holding                 6 927             201 437            6 927            186 267
                       Anonim Sirketi
                                                    
 Mr Y. Kaptan          Mutlu Holding                 8 706             253 170            8 706            234 104 
                       Anonim Sirketi
                                                     
 Ms S. Emiroglu        Mutlu Holding                 1 135              33 006            1 135             30 520
                       Anonim Sirketi 
  
 Mr S. Douwenga        Metair                       41 842           1 216 798           41 842          1 125 131
                      
 Mr A. Jogia           Metair                        5 561             161 714

 Ms S.M.               Metair                        6 143             178 638            3 072             82 606
 Vermaak


Johannesburg
1 December 2021

Sponsor
One Capital

Date: 01-12-2021 09:22:00
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