Implats Platinum Holdings Limited (Implats) announced today that several prescribed officers have accepted restricted matching shares as part of the company’s Long-term Incentive Plans (LTIP) Scheme. These transactions, carried out in compliance with the JSE Limited Listings Requirements, signify a significant alignment of interests between Implats executives and shareholders.
Implats’ prescribed officers, A Mhembere, M Munroe, and S Sibiya, each holding key positions within the organization, have individually accepted restricted matching shares. The off-market nature of these transactions indicates that the shares were not traded on the open market.
A Mhembere, as a prescribed officer, accepted 1,748 restricted matching shares at an award price of R168.98 per share, resulting in a total transaction value of R295,377.04. Similarly, M Munroe accepted 787 shares, amounting to a transaction value of R132,987.26. S Sibiya, another prescribed officer, accepted 798 shares, with a transaction value of R134,846.04. These share awards were granted on 6 March 2023, and the officers officially accepted them on 26 June 2023.
Implats’ LTIP Scheme is designed to incentivize and reward prescribed officers for their contributions to the long-term growth and performance of the company. By offering restricted matching shares, Implats ensures that the interests of its executives are closely aligned with those of its shareholders, fostering a focused approach towards sustainable value creation.
The company’s spokesperson highlighted the significance of the LTIP Scheme, stating, “We firmly believe that by linking the remuneration of our prescribed officers to the performance of the company, we create a mutually beneficial environment that encourages long-term success and growth. The acceptance of these restricted matching shares further strengthens this alignment and reinforces our commitment to driving shareholder value.”
Implats, listed on the Johannesburg Stock Exchange under the share code “IMP” and trading as American Depositary Receipts under the code “IMPUY,” has appointed Nedbank Corporate and Investment Banking, a division of Nedbank Limited, as its sponsor.