SPAR’s Strategic Moves: Director Awards and CSP Transactions

  • Director Awards: Mark Godfrey accepted 31,600 performance shares, valued at R3,682,664, in compliance with CSP on December 7.
  • CSP Transactions: Angelo Swartz led CSP transactions, purchasing 18,400 performance shares for R2,144,336 on December 4 and 6.
  • Compliance Assurance: Both CSP transactions received clearance, affirming SPAR Group Limited's commitment to regulatory standards and transparency.
By Lethabo Ntsoane

In a recent disclosure in compliance with JSE Limited Listings Requirements, SPAR Group Limited (JSE Code: SPP) has shared details of significant dealings in securities, shedding light on the acceptance of awards by a director and transactions conducted by the SPAR Group Limited Conditional Share Plan (CSP).

Director Mark Godfrey Accepts Performance Share Awards

On December 7, 2023, Director Mark Godfrey accepted awards of shares under the SPAR Group Limited Conditional Share Plan (CSP). The details of the transaction are as follows:

Transaction DetailsValues
Nature of TransactionsAcceptance of performance shares in terms of the CSP
Date of Acceptance7 December 2023
Class of SecuritiesPerformance shares linked to SPAR ordinary shares
Vesting PeriodThree years for annual award of performance shares
Deemed Value per AwardR116.54
Nature and Extent of InterestDirect beneficial
Transaction CompletedOff-market
Number of Shares31,600 performance shares
Total Deemed ValueR3,682,664.00

CSP Transactions Led by Director Angelo Swartz

Director Angelo Swartz, overseeing the CSP, engaged in on-market transactions to purchase SPAR ordinary shares, aiming to settle obligations to certain CSP participants for vested awards.

Transaction 1 – December 4, 2023

Transaction DetailsValues
Date of Transaction4 December 2023
Number of Shares12,596 SPAR ordinary shares
Price per ShareVolume-weighted average price of R115.9221, highest R116.72, lowest R115.19
Total Value of TransactionR1,460,154.77

Transaction 2 – December 6, 2023

Transaction DetailsValues
Date of Transaction6 December 2023
Number of Shares5,062 SPAR ordinary shares
Price per ShareR116.20
Total Value of TransactionR588,204.40

CSP Compliance and Additional Information

Both CSP transactions received clearance in accordance with paragraph 3.66 of the JSE Limited Listings Requirements, ensuring adherence to regulatory standards.

The transactions were carried out with the following considerations:

  • Sponsor: One Capital
  • Location: Pinetown

The announcement, made on December 8, 2023, signifies SPAR Group Limited’s commitment to transparency and compliance in its securities dealings.

Investors and stakeholders are encouraged to stay informed as the company navigates its path, demonstrating accountability and responsible governance in the South African business landscape.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo