In a recent announcement, Oceana Group Limited has disclosed details of its 2022 Share Plan. The company, incorporated in the Republic of South Africa, unveiled the Deferred Bonus Shares (DBS) and Performance Shares (PS) awarded to directors and major subsidiary leaders.
The awards, granted on December 4, 2023, were officially accepted by the participants on December 5, 2023. Notably, DBS will be settled three years from the Award Date, contingent on the participant’s continuous employment. PS, on the other hand, are conditionally awarded with the final settlement determined after three years, based on performance criteria.
Let’s delve into the details of the awards received by key figures within the Oceana Group:
|Group Executive Director and CFO
|Group Company Secretary
|Mr. L De Waal
|Mr. S Salie
|Ms. S Louw
|Ms. S Naidoo
In terms of transaction specifics, the awards are settled either in Oceana Group shares or in cash, determined solely at the company’s discretion. The share prices for both DBS and PS are noted as “R nil,” and the transactions hold a value of “R nil,” indicating an off-market acceptance of DBS and PS.
This move by Oceana Group Limited underscores its commitment to aligning the interests of its leadership with the long-term success and performance of the company, fostering a culture of accountability and shared success. As shareholders await the outcomes of the vesting periods, the company continues to navigate the dynamic landscape of the seafood industry and uphold its position as a leading force in South African business.