SENS

19-03-2010

Directors - Share Scheme Transactions


TON TONGAAT HULETT DIRECTORS - SHARE SCHEME TRANSACTIONS

 

Tongaat Hulett Limited

(Registration number 1892/000610/06)

Share code: TON

ISIN ZAE000096541

 

In accordance with the JSE Listings Requirements, the following is disclosed in respect of directors and share scheme transactions:

 

CLASS OF SECURITIES: Ordinary shares

DATE: 17 March 2010

EXTENT OF INTERESTS: Direct and beneficial

CLEARANCE TO TRANSACT: Yes

 

SHARE APPRECIATION RIGHTS these relate to rights granted in 2005 with a grant price of R43,98. The requisite performance conditions have been fully met previously. The following director has elected to exercise some of his rights, which results in a calculated (i.e. in respect of the appreciation above the grant price) number of shares being acquired and delivered to him.

DIRECTOR: B G Dunlop

NUMBER OF RIGHTS EXERCISED: 40 597

NUMBER OF SHARES DELIVERED: 23 071

NUMBER OF SHARES SUBSEQUENTLY SOLD TO COVER TAX: 9 459

SELLING PRICE: R101,78

NUMBER OF SHARES RETAINED: 13 612

 

SHARE OPTIONS - these relate to the original Tongaat-Hulett Group share option schemes:

 

DIRECTOR: J B Magwaza

NATURE OF TRANSACTION:

Exercise of share options awarded in May 2000 expiring in May 2010, in respect of the Hulamin component of the original Tongaat-Hulett Group scheme which, following the Hulamin unbundling, is now settled in Tongaat Hulett shares.

And

Exercise of the Tongaat Hulett components of share options from the original Tongaat-Hulett Group scheme.

OPTION SUBSCRIPTION PRICE: R7,09 in respect of the Hulamin component, which equates to R22,91 on the Tongaat Hulett component.

And

OPTION SUBSCRIPTION PRICE: R33,77 in respect of the Tongaat Hulett components.

NUMBER OF OPTIONS EXERCISED: 2 000 in respect of the Hulamin component, which equates to 118 Tongaat Hulett options.

The Tongaat Hulett components total 15 600 options. The combined total is thus 15 718 Tongaat Hulett options.

NUMBER OF SHARES SOLD TO COVER THE SUBSCRIPTION PRICE AND TAX: 9 318

SELLING PRICE: R101,50

NUMBER OF SHARES RETAINED: 6 400

 

Executive directors have elected to exercise share options in respect of Tongaat Hulett components of the original Tongaat-Hulett Group scheme as follows:

 

DIRECTOR: B G Dunlop

NUMBER OF OPTIONS EXERCISED: 1 100

OPTION SUBSCRIPTION PRICE: 35,90

NUMBER OF SHARES SOLD TO COVER THE SUBSCRIPTION PRICE AND TAX: 700

SELLING PRICE: R101,50

NUMBER OF SHARES RETAINED: 400

 

DIRECTOR: P H Staude

NUMBER OF OPTIONS EXERCISED: 45 000

OPTION SUBSCRIPTION PRICE: 36,65

NUMBER OF SHARES SOLD TO COVER THE SUBSCRIPTION PRICE AND TAX: 28 100

SELLING PRICE: R101,50

NUMBER OF SHARES RETAINED: 16 900

 

 

 

19 March 2010

Tongaat

 

Sponsor: Investec Bank Limited