Spur directors receive conditional share awards under incentive scheme

Spur Corporation Limited has awarded Bonus Matching Forfeitable Shares (BMFS) to its executive directors and company secretary under the Restricted Share Plan 2020 (2020 RSP) Scheme. These equity-settled shares, equivalent in value to a percentage of the bonus payable for the 2025 short-term incentive, were allocated on September 9, 2025. The BMFS are subject to a Vesting Period, with participants becoming unconditionally entitled to the shares on October 2, 2028, provided they remain full-time employees.

The awards include Valentine Nichas, executive director, receiving 14,643 BMFS valued at R550,179, Cristina Teixeira, executive director, receiving 11,536 BMFS valued at R433,440, and Kevin Robertson, executive director, receiving 9,103 BMFS valued at R342,025. Donfrey Meyer, company secretary, was awarded 3,312 BMFS valued at R124,441. All shares were granted off-market at a price of R37.57 per share, with prior permission to deal obtained.

The total value of the BMFS reflects the actual cost of the company's shares acquired by a wholly-owned subsidiary between August 29, 2025, and September 4, 2025, to fulfill this obligation. While the BMFS are held in escrow during the Vesting Period, participants will enjoy full direct beneficial ownership benefits, including voting rights and dividends, but cannot trade the shares until the Vesting Date.