- Capital Appreciation Limited grants conditional share awards to executive directors.
- Awards are subject to performance criteria and continued employment for a three-year period.
- Each director receives 1,562,500 ordinary shares, with a total value of R2,341,752.
Capital Appreciation Limited announced the granting of conditional share awards to its executive directors under the 2020 Capital Appreciation Conditional Share Plan. The awards, subject to performance criteria and continued employment, aim to align the interests of the directors with the long-term growth and success of the company.
Michael Reuven Pimstein, Bradley Jonathan Sacks, Alan Charles Salomon, and Michael Brian Shapiro, esteemed executive directors at Capital Appreciation, have been granted conditional share awards effective June 8, 2023. The awards signify the company’s commitment to recognizing and retaining top talent within its leadership ranks.
Each director will receive 1,562,500 ordinary shares as part of the conditional share award, with a fair value of 149.8721 cents per share. The fair value is determined based on the three-day volume weighted average price at the grant date, resulting in a total value of R2,341,752 for each award.
The conditional share awards are considered off-market grants and acceptances made in accordance with the Capital Appreciation Conditional Share Plan. For the shares to vest, the directors must meet specific performance criteria over a three-year financial performance period and maintain continuous employment throughout the vesting period.
The vesting of the shares is scheduled for June 2026, subject to the directors fulfilling the outlined conditions. By linking the share awards to performance criteria, Capital Appreciation aims to incentivize its executive directors to drive the company’s growth and profitability over the next three years.
The conditional share awards reflect Capital Appreciation’s dedication to rewarding and retaining top talent within its leadership team. By offering these incentives, the company aims to motivate its executive directors to contribute to the long-term success and sustainable development of the organization.
The executive directors mentioned in the announcement have expressed their direct beneficial interest in the conditional share awards. Furthermore, all necessary clearances for the awards have been obtained, ensuring compliance with relevant regulations and internal governance procedures.