The Chief Executive Officer of PPC Ltd, Matias Cardarelli, has pledged and ceded ordinary shares in the company as security for a financial obligation linked to his Long-Term Incentive Plan award.
The transaction, concluded on 23 February 2026, involved 2 485 085 PPC shares, valued at R6.30 per share based on the prevailing market price as at 20 February 2026, giving the shares a deemed value of R15 656 035.50.
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According to a notice issued in line with Johannesburg Stock Exchange listing requirements, the shares were pledged to secure a one-year term loan facility of R5 561 694.00. The loan is intended to settle the tax liability arising from the vesting of one-third of Cardarelli’s LTIP award, which was originally announced on 28 November 2023.
The notice confirmed that the nature of the interest in the shares is direct beneficial, and that clearance to deal was obtained in accordance with regulatory requirements.
PPC is incorporated in South Africa and is listed on both the JSE (code: PPC) and the Zimbabwe Stock Exchange (ZSE code: PPC). The company operates primarily in the building materials sector, with operations spanning several African markets.
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