Capital Appreciation Limited Awards R6.1M in Conditional Shares

  • Conditional Share Awards: Executive directors receive shares based on performance metrics and continued employment.
  • Vesting and Settlement: Awards will vest in 2027, settled through market purchase of ordinary shares.
  • Financial Details: Fair value at grant date determines the total value of awards.

Capital Appreciation Limited

Capital Appreciation Limited has awarded Conditional Share Awards to its Executive Directors in line with the 2020 Capital Appreciation Conditional Share Plan.

Executive Directors Granted Conditional Share Awards

The Executive Directors receiving Conditional Share Awards are Michael Reuven Pimstein, Bradley Jonathan Sacks, Alan Charles Salomon, and Michael Brain Shapiro. The awards are based on performance conditions and continued employment until 2027.

Table 1: Details of Conditional Share Awards

Executive Director NameCompanyNumber of Ordinary SharesTotal Value of Award (R)
Michael Reuven PimsteinCapital Appreciation Limited1,322,3141,600,000
Bradley Jonathan SacksCapital Appreciation Limited1,322,3141,600,000
Alan Charles SalomonCapital Appreciation Limited1,322,3141,600,000
Michael Brain ShapiroCapital Appreciation Limited743,802900,000
Donn EngelbrechtAfrican Resonance Business Solutions826,4461,000,000
Benjamin PowellDashpay Proprietary Limited413,223500,000
Steyn BassonSynthesis Software Technologies Proprietary Limited743,802900,000
Barry KrugerAfrican Resonance Business Solutions413,223500,000

Nature of Awards and Clearance

These awards are off-market grants made pursuant to the Plan and are subject to performance metrics and continued employment. The nature and extent of directors’ interests are directly beneficial.

Vesting and Settlement

The Conditional Share Awards will vest on 14 June 2027, subject to meeting specified conditions. Settlement of the awards will be through market purchase of ordinary shares.

Financial Details and Clearance

The fair value of ordinary shares at the grant date, using the three-day volume weighted average price of R1.21 per share, determines the total value of the awards. The company has received clearance to grant these awards.


Capital Appreciation Limited’s granting of Conditional Share Awards underscores its commitment to aligning executive compensation with performance and long-term company growth.

Notice: ob_end_flush(): Failed to send buffer of zlib output compression (0) in /home/dubeshephard/public_html/wp-includes/functions.php on line 5427