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LEWIS GROUP LIMITED – Directors dealings in securities

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Directors dealings in securities

Lewis Group Limited
Incorporated in the Republic of South Africa
Registration number: 2004/009817/06
JSE share code: LEW
ISIN: ZAE000058236
Bond code: LEWI
(“Lewis Group” or “the group”)

Directors Dealings in Securities

In compliance with the requirements 3.63 to 3.74 of the JSE Listings
Requirements, the following should be noted:

1. The Lewis 2019 Executive Retention Scheme

Senior executives who are invited to co-invest have earned an annual
bonus and have achieved the requisite performance targets set for
them. These eligible executives can elect to invest f r o m 1 0 % u p
a maximum percentage set by the Remuneration Committee
(“the Committee”)for each executive. The Committee
cannot set the percentage so determined above 100%.

These invested shares (i.e. shares acquired using the executive’s
net bonus) are held on behalf of executives for a period of three
years and matching shares equal to the before tax bonus are awarded
for no consideration at the end of the period. The invested shares
are purchased by the employee share trust on the open market on
behalf of executives.

The matching share award will lapse, should the executive terminate
his or her employment before the completion of the three year period
other than in the event of death, ill-health, retirement or
retrenchment.

The following executives elected on 9 June 2021 to invest their
percentage of the net bonus in the company’s shares and,
consequently, matching share awards were awarded to them under the
Lewis 2019 Executive Retention Scheme:

Invested Matching Total
Executive Designation Shares Share Value
Award
J. Enslin Executive Director, 69 593 126 533 R6 589 831
Lewis Group Ltd
J. Bestbier Executive Director, 42 926 78 047 R4 064 707
Lewis Group Ltd
W. Achmat Director, Lewis Stores 21 421 38 947 R2 028 361
(Pty) Ltd

D. Loudon Director, 35 562 64 658 R3 367 379
Lewis Stores (Pty)
Ltd
R. Oliphant Director, 33 934 61 698 R3 213 252
Lewis Stores (Pty)
Ltd

The invested shares were allocated to the executives at a price of
R33.60 being determined as an average of the last 3 trading day’s
weighted average price. The matching share awards will be received
by the scheme participants for no consideration.
2. The Lewis 2019 Executive Performance Scheme

In terms of the scheme, executives have been offered the right to
acquire shares of the company for no consideration subject to the
achievement of performance targets. The share awards under this
scheme will lapse, should the executive terminate his or her
employment before the completion of the period of the award other
than in the event of death, ill-health, retirement or retrenchment.

The Committee have agreed to grant the executives a three year
award under this scheme, details which are set out below.

The performance targets are set by the Committee at the beginning of
the each of the 3 years and are based on a weighting set for each
executive depending on their daily employment responsibilities, of
the following:

– Headline earnings per share
– Quality of the debtors book
– Gross margin

The following executives have been granted awards on 9 June 2021
under the Lewis 2019 Executive Performance Scheme

Maximum No. of
Executive Designation Shares for no Value
consideration
J. Enslin Executive Director, 210 794 R7 048 951
Lewis Group Limited
J. Bestbier Executive Director, 128 769 R4 306 035
Lewis Group Ltd
W.Achmat Director, 69 605 R 2 327 591
Lewis Stores (Pty) Ltd
D. Loudon Director, 71 176 R2 380 125
Lewis Stores (Pty) Ltd
Director,
R. Oliphant (Pty) Ltd 69 152 R2 312 443
Lewis Stores (Pty) Ltd
(Pty) Ltd
The above values are deemed values based on a market price of
R33.44, calculated in terms of the rules of the scheme.

All the transactions as set out in 1 to 2 above were for the direct
benefit of the director. The requisite clearances have been obtained.

Cape Town
11 June 2021

Sponsor
UBS South Africa (Pty) Ltd

Debt sponsor
Absa Bank Limited acting through its Corporate and Investment Banking
Division

Date: 11-06-2021 09:15:00
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