Famous Brands Limited successfully concluded an on-market purchase of ordinary shares through its Famous Brands Share Incentive Scheme 2015. The transaction, which occurred on June 20, 2023, involved the acquisition of a total of 328,706 shares at a price of R63.1880 per share, resulting in a substantial transaction value of R20,770,274.73.
The Famous Brands Share Incentive Scheme 2015, an internal initiative by the company, aims to recognize and motivate nominated participants whose awards have vested in accordance with the scheme’s rules. By enabling participants to benefit directly from the company’s performance and growth, Famous Brands seeks to foster a sense of shared success among its employees.
This recent on-market purchase of shares signifies Famous Brands’ unwavering commitment to acknowledging the invaluable contributions and accomplishments of its workforce. By delivering the vested awards, the company not only demonstrates the value it places on its employees but also aligns their interests with the long-term prosperity of the organization.
The transaction was carried out in strict compliance with paragraph 3.92 of the Listings Requirements of the JSE Limited, showcasing Famous Brands’ unwavering commitment to regulatory compliance and transparency in all its dealings. Prior clearance to execute the transaction was obtained in accordance with the provisions of paragraph 3.66 of the JSE Limited Listings Requirements.
This share acquisition further solidifies Famous Brands’ position as a key industry player, showcasing its determination to drive sustainable growth and create significant value for its stakeholders. The company’s strategic approach, combined with its commitment to fostering employee incentives, is expected to have a positive impact on its overall market performance.