Aspen Pharmacare Holdings Limited (Share Code: APN) has announced the vesting of deferred bonus shares awarded in 2020 to key members of its leadership team. The vesting of these shares is part of the Aspen South African Management Deferred Incentive Scheme. The announcement, in compliance with the Listings Requirements of the JSE Limited, reveals the details of the transaction, including the directors, company secretary, and prescribed officers of the company who have received these shares.
The deferred bonus shares, which have now vested, were delivered off-market on October 20, 2023, at a price of R 164.01 per share. The total value of the shares to be delivered to the recipients is substantial, underscoring the significance of the incentive scheme and the company’s commitment to rewarding its key personnel.
Here is a summary of the details for each recipient:
| Recipient | Position | Number of Shares | Price per Share (R) | Total Value (R) |
|---|---|---|---|---|
| Stephen Bradley Saad | Director | 35,862 | 164.01 | 5,881,726.62 |
| Sean Matthew Capazorio | Director | 17,507 | 164.01 | 2,871,323.07 |
| Michael Guy Attridge | Prescribed Officer | 29,647 | 164.01 | 4,862,404.47 |
| Reginald Haman | Prescribed Officer & Company Secretary | 15,442 | 164.01 | 2,532,642.42 |
| Lorraine Angela Hill | Prescribed Officer | 25,141 | 164.01 | 4,123,375.41 |
| Zizipho Mmango | Prescribed Officer | 2,681 | 164.01 | 439,710.81 |
The Aspen South African Management Deferred Incentive Scheme is designed to incentivize and reward key members of Aspen Pharmacare’s leadership team, aligning their interests with the long-term success and performance of the company. The scheme includes the vesting of deferred bonus shares, as seen in this recent announcement.
The company has stated that no dealing was involved in the clearance for these transactions, indicating that the shares were delivered as part of the incentive scheme rather than as a result of any market activity.
The vesting of deferred bonus shares to directors, the company secretary, and prescribed officers is a common practice among publicly-traded companies and serves as a means to retain and motivate top talent. It also demonstrates the company’s confidence in its leadership team and its commitment to long-term shareholder value.
Aspen Pharmacare, a South African-based multinational pharmaceutical company, has been a significant player in the global pharmaceutical industry. With a presence in over 150 countries and a diverse portfolio of products, the company’s performance has a direct impact on South Africa’s economy
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