How and why has the JSE introduced an employee scheme?
The JSE is critically dependent on its senior management for its successful operation. The Board believes it imperative to retain its senior management and has decided to seek to do so through the introduction of an Employee Scheme. The Employee Scheme is a cash bonus scheme which pays participants a certain amount in cash based on their Participation Interests and is calculated by reference to the growth in the JSE’s share price from the base price (30 calendar days VWAP immediately prior to and including the date of the decision to award Participation Interests) to the vesting price (30 calendar days VWAP immediately prior to and including the date of the unconditional vesting of a Participation Interest). In the event that the vesting price is below the base price, participants will not receive a cash bonus from the Employee Scheme.
