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AVI Limited Directors Embrace Share Options: A Strategic Move for Long-Term Growth

AVI
  • AVI Limited announces acceptance of share options by directors and company secretary, aligning their interests with the company’s long-term success.
  • Options granted for ordinary shares with a 3-year vesting period.
  • Transactions conducted off-market with proper clearance obtained.

AVI Limited (Share Code: AVI, ISIN: ZAE000049433), a prominent South African consumer goods company, revealed today that several key executives have accepted share options under the revised executive share incentive schemes and deferred bonus share plans.

In accordance with the Listings Requirements of the JSE Limited, AVI disclosed the details of the transactions undertaken by directors, directors of major subsidiaries, and the company secretary.

Simon Crutchley, a director of AVI, accepted options in the AVI Revised Executive Share Incentive Scheme. He was granted 511,125 options in respect of ordinary shares at an allocation price of R66.48. The total value of his transaction amounted to R33,979,590.00. These options will vest over a period of three years. Simon Crutchley’s interest in the company is direct and beneficial, and the transaction was conducted off-market with proper clearance obtained.

Michael Koursaris, another AVI director, also accepted options in the AVI Revised Executive Share Incentive Scheme. He received 214,125 options in respect of ordinary shares at an allocation price of R66.48. The total value of his transaction was R14,235,030.00. The options will vest over a period of three years. Michael Koursaris has a direct and beneficial interest in the company, and the transaction took place off-market with appropriate clearance.

Roelf van der Laan, a director of National Brands Limited, participated in the AVI Revised Executive Share Incentive Scheme. He was granted 49,652 options in respect of ordinary shares at an allocation price of R66.48. The total value of his transaction reached R3,300,864.96. These options will vest over a period of three years. Roelf van der Laan’s interest in AVI is direct and beneficial, and the transaction was executed off-market with proper clearance.

Simon Crutchley, the AVI director mentioned earlier, also accepted options in the AVI Deferred Bonus Share Plan. He received 159,194 options in respect of ordinary shares at an allocation price of R63.58. The total value of his transaction amounted to R10,121,554.52. These options will vest over a period of three years. Simon Crutchley’s interest in AVI is direct and beneficial, and the transaction was conducted off-market with appropriate clearance.

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