PPC CEO acquires additional retention shares worth R57.7m

PPC chief executive officer Matias Cardarelli has acquired a further 7.85 million retention shares in the cement producer through on-market transactions valued at about R57.7 million.

According to a company disclosure dated September 10, 2026, the transactions were undertaken for Cardarelli’s direct benefit in relation to an award of ordinary shares made to him.

The first transaction took place on September 7, when 1,781,219 retention shares were acquired at a volume-weighted average price (VWAP) of R7.45 per share. The transaction was valued at R13.27 million.

A further 6,065,594 shares were acquired on September 8 at a VWAP of R7.33 per share, with the transaction valued at R44.44 million.

The combined transactions amounted to 7,846,813 shares with a total value of approximately R57.71 million.

PPC said the disclosures followed earlier announcements published on August 27 and September 4 regarding Cardarelli’s acceptance of an award of ordinary shares, referred to as “retention shares”, and subsequent acquisitions.

The company said clearance to undertake the transactions had been obtained in terms of paragraph 6.83 of the JSE Listings Requirements.

The disclosure was issued from Rosebank on September 10 by PPC, which is listed on the Johannesburg Stock Exchange and the Zimbabwe Stock Exchange.