Directors of AfroCentric Acquire Shares through Share Scheme

• Directors of AfroCentric and major subsidiaries acquire shares through AfroCentric Forfeitable Share Scheme.
• Chief Executive Officer Ahmed Banderker obtains 300,000 shares, CFO Hannes Boonzaaier acquires 200,000 shares.
• Executive Directors of Medscheme, Aklaaq Mahmood and Fezeka Nompumza, secure 175,000 and 225,000 shares respectively.

In compliance with the JSE Limited Listings Requirements, AfroCentric, a leading healthcare group, has revealed the details of recent securities transactions made by its directors and company secretary. The acquisitions were made under the AfroCentric Forfeitable Share Scheme, which was adopted during the company’s annual general meeting held on November 10, 2022. The scheme allows eligible individuals to receive awards of shares, subject to specific vesting conditions.

Ahmed Banderker, the Chief Executive Officer of AfroCentric, obtained 300,000 ordinary shares with a value of R1,650,000.00 in a transaction that took place on May 8, 2023. The price per share was R5.50, and the award is set to vest on May 8, 2026.

Hannes Boonzaaier, the Chief Financial Officer of AfroCentric, acquired 200,000 ordinary shares worth R1,100,000.00 on the same date. The price per share for Boonzaaier’s transaction was also R5.50, and the vesting date aligns with Banderker’s award, on May 8, 2026.

Two directors from Medscheme, a major subsidiary of AfroCentric, also participated in the off-market acceptance of shares through the AfroCentric Forfeitable Share Scheme.

Aklaaq Mahmood, an Executive Director of Medscheme, received 175,000 ordinary shares valued at R962,500, with a price per share of R5.50. The vesting date for Mahmood’s award matches that of Banderker and Boonzaaier, set for May 8, 2026.

Fezeka Nompumza, another Executive Director of Medscheme, obtained 225,000 ordinary shares worth R1,237,500. The price per share for Nompumza’s transaction was consistent with the others at R5.50, and the vesting date is also scheduled for May 8, 2026.

Billy Mokale, the Group Company Secretary of AfroCentric, participated in the scheme by accepting 150,000 ordinary shares. The total value of the transaction was R825,000, and the price per share matched that of the other directors at R5.50. The vesting date for Mokale’s award coincides with the rest on May 8, 2026.

All transactions by the directors and the company secretary were classified as off-market acceptances of awards of shares under the AfroCentric Forfeitable Share Scheme. These acquisitions represent a direct beneficial interest in AfroCentric for the individuals involved.