Annexure

Names	Opening number on 1 July 2019	Granted during 2020	Forfeited/ lapsed during 2020	Settled/ exercised during 2020	Closing number on 30 June 2020	Cash value on settlement during 2020	Closing fair value at 30 June 2020	Strike price R
LP Ralphs
Conditional Share Plan
11/12/2015	94 280	–	8 073	62 637	20 879	12 777 948	3 129 137
24/10/2016	80 000	–	6 850	53 150	17 717	10 842 600	2 655 187
27/11/2017	112 000	–	–	–	112 000	–	8 202 828
03/12/2018	120 000	–	–	–	120 000	–	8 456 715
28/11/2019	–	150 000	–	–	150 000	–	10 425 684
Total	406 280	150 000	14 923	115 787	420 596	23 620 548	32 869 551
NT Madisa
Conditional Share Plan
24/10/2016	20 000	–	1 713	13 287	4 429	2 710 548	663 797
27/11/2017	30 000	–	–	–	30 000	–	2 197 186
03/12/2018	40 000	–	–	–	40 000	–	2 818 905
28/11/2019	–	75 000	–	–	75 000	–	5 212 842
27/11/2020
Replacement rights (Options)
13/03/2014	6 250	–	–	–	6 250	–	1 166 485	238
03/11/2014	10 767	–	–	10 767	–	2 886 057	–	270
11/12/2015	20 000	–	–	–	20 000	–	2 452 753	302
Total	127 017	75 000	1 713	24 054	175 679	5 596 605	14 511 968
GC McMahon
Conditional Share Plan
24/10/2016	12 000	–	1 028	7 972	2 658	1 626 288	398 278
27/11/2017	15 000	–	–	–	15 000	–	1 098 593
03/12/2018	30 000	–	–	–	30 000	–	2 114 179
28/11/2019	–	50 000	–	–	50 000	–	3 475 228
27/11/2019
Replacement rights (Options)
09/10/2014	5 000	–	–	–	5 000	–	–	251
11/12/2015	15 000	–	–	–	15 000	–	–	302
Total	77 000	50 000	1 028	7 972	117 658	1 626 288	9 793 081
MJ Steyn
Conditional Share Plan
03/12/2018	40 000	–	–	–	40 000	–	2 818 905
28/11/2019	–	60 000	–	–	60 000	–	4 170 274
27/11/2020
SARS
07/11/2016	40 000	–	–	–	40 000	–	339 770	147
09/11/2017	40 000	–	–	–	40 000	–	467 542	159
Replacement rights (Options)
09/10/2014	3 750	–	–	–	3 750	–	650 429	251
11/12/2015	7 500	–	–	–	7 500	–	919 782	302
Total	131 250	60 000	–	–	191 250	–	9 366 702

 

Names	Granted during 2021	Forfeited/ lapsed during 2021	Settled/ exercised during 2021	Closing number on 30 June 2021	Cash value on settlement during 2021	Closing fair value at 30 June 2021	Strike price R
LP Ralphs
Conditional Share Plan
11/12/2015	–	–	20 879	–	2 932 038	–
24/10/2016	–	–	17 717	–	2 487 998	–
27/11/2017	–	56 736	41 448	13 816	5 820 543	2 631 399
03/12/2018	–	68 157	–	51 843	–	13 061 766
28/11/2019	–	150 000	–	–	–	–
Total	–	274 893	80 044	65 659	11 240 579	15 693 164
NT Madisa
Conditional Share Plan
24/10/2016	–	–	4 429	–	622 105	–
27/11/2017	–	15 197	11 102	3 701	1 559 054	704 839
03/12/2018	–	–	–	40 000	–	4 353 922
28/11/2019	–	–	–	75 000		7 960 769
27/11/2020	134 000	–	–	134 000		22 059 099
Replacement rights (Options)
13/03/2014	–	–	–	6 250	–	1 648 872	238
03/11/2014	–	–	–	–	–	–	270
11/12/2015	–	–	–	20 000	–	3 996 390	302
Total	134 000	15 197	15 531	278 951	2 181 159	40 723 889
GC McMahon
Conditional Share Plan
24/10/2016	–	–	2 658	–	373 263	–
27/11/2017	–	7 600	5 550	1 850	779 387	352 419
03/12/2018	–	–	–	30 000	–	3 265 441
28/11/2019	–	–	–	50 000	–	5 307 179
27/11/2019	46 000	–	–	46 000	–	7 572 526
Replacement rights (Options)
09/10/2014	–	–	–	5 000		1 253 147	251
11/12/2015	–	–	–	15 000		2 997 292	302
Total	46 000	7 600	8 208	147 850	1 152 649	20 748 006
MJ Steyn
Conditional Share Plan
03/12/2018	–	–	–	40 000	–	4 353 922
28/11/2019	–	–	–	60 000	–	6 368 615
27/11/2020	57 000	–	–	57 000	–	9 383 348
SARS
07/11/2016	–	–	–	40 000	–	1 846 070	147
09/11/2017	–	–	–	40 000	–	1 520 277	159
Replacement rights (Options)
09/10/2014	–	–	–	3 750	–	939 861	251
11/12/2015	–	–	–	7 500	–	1 498 646	302
Total	57 000	–	–	248 250	–	25 910 739

Type of award

			Valuation methodology applied
	Award date	Tranche*	Market value estimation using a market valuation technique	Intrinsic value**
Conditional share	27/11/2017	n/a		√
Conditional share	03/12/2018	n/a	√	√
Conditional share	28/11/2019	n/a	√
Conditional share	28/11/2020	n/a	√
Replacement share	13/03/2014	3		√
Replacement share	09/10/2014	2 and 3		√
Replacement share	03/11/2014	3		√
Replacement share	11/12/2015	2		√
Replacement share	11/12/2015	3		√
SARS	07/11/2016	1 and 2		√
SARS	07/11/2016	3		√
SARS	09/11/2017	1 and 2		√
SARS	09/11/2017	3	√

 

	Bidvest 20-day Vwap	Bidcorp 20-day Vwap	Bidvest 20-day Vwap	Bidcorp 20-day Vwap	Strike price	Performance conditions vesting %		Performance conditions	Vesting date
Conditional share	193.54	n/a	149.87	n/a	n/a	49%		√	25% – 30/09/2021
Conditional share	193.54	n/a	149.87	n/a	n/a	58%		√	75% – 30/09/2021
									25% – 30/09/2022
Conditional share	193.54	n/a	149.87	n/a	n/a	58%		√	75% – 30/09/2022
									25% – 30/09/2023
Conditional share	193.54	n/a	149.87	n/a	n/a	93%		√	75% – 30/09/2023
									25% – 30/09/2024
Replacement share	193.54	307.82	149.87	274.31	237.54	n/a		x	25% – 13/03/2019
Replacement share	193.54	307.82	149.87	274.31	250.73	n/a		x	25% – 09/10/2018
									25% – 09/10/2019
Replacement share	193.54	307.82	149.87	274.31	269.95	n/a		x	25% – 03/11/2019
Replacement share	193.54	307.82	149.87	274.31	301.54	n/a		x	25% – 11/12/2019
Replacement share	193.54	307.82	149.87	274.31	301.54	n/a		x	25% – 11/12/2020
SARS	193.54	n/a	149.87	n/a	146.61	n/a		x	50% – 07/11/2019
									25% – 07/11/2020
SARS	193.54	n/a	149.87	n/a	146.61	n/a		x	25% – 07/11/2021
SARS	193.54	n/a	149.87	n/a	158.75	n/a		x	50% – 09/11/2020
									25% – 09/11/2021
SARS	193.54	n/a	149.87	n/a	158.75	n/a		x	25% – 09/11/2022

*	Where a tranche has not been included, the awards were already exercised.
**	Intrinsic value less present value of September 2021 dividend which the instrument is not entitled to in respect of awards not yet vested.