Sygnia’s investors have passed a resolution approving an amendment to the company’s share option scheme, potentially unlocking R594 million in executive share options.<\/p>\n\n\n\n
The proposed amendment involved increasing the maximum number of shares which could be acquired by participants in the share scheme “B”.<\/p>\n\n\n\n
It proposed increasing the maximum number of shares from 15 million to 25 million across all participants, which includes members of the company’s executive team.<\/p>\n\n\n\n
In the circular outlining the proposed amendment, it was noted that there were just shy of 7 million shares which had been awarded.<\/p>\n\n\n\n
“After increasing the aggregate number of Shares to 25 million, the remaining number of Shares that can be awarded under the B Scheme will be 18,000,500 Shares,” the circular said.<\/p>\n\n\n\n
With the new 25 million maximum, there would be roughly R594 million in additional shares available to scheme B participants, based on Sygnia’s closing share price of 3,300 cents on 22 October 2026.<\/p>\n\n\n\n
The circular included other proposed amendments, such as the introduction of performance conditions and the enabling of single, multiple, and annual offers.<\/p>\n\n\n\n
The rationale behind these changes was to ensure the company could attract new employees and retain existing participants in the scheme.<\/p>\n\n\n\n
“Sygnia now wishes to further amend the Rules to improve alignment with the interests of Sygnia Shareholders, while still attracting, motivating, rewarding and retaining Participants,” the company said.<\/p>\n\n\n\n
In a general meeting on 23 October 2026, Sygnia’s investors voted in favour of passing the proposed amendments to scheme B.<\/p>\n\n\n\n
“Shareholders are advised that the ordinary resolutions to adopt and implement the Third Deed of Amendment were passed by the requisite majority of votes of shareholders present in person or represented by proxy,” Sygnia said.<\/p>\n\n\n\n
Roughly 83% of the company’s shareholders voted on the resolution, with 86.99% voting in its favour and 13.01% voting against it.<\/p>\n\n\n\n
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<\/a><\/figure>\n\n\n\nAfter the amendments to Sygnia’s share option programme were initially proposed, controversy erupted over the potential benefit to the company’s CEO and founder, Magda Wierzycka.<\/p>\n\n\n\n
Under the proposed changes, Wierzycka and others would stand to gain through access to additional shares, which some investors opposed.<\/p>\n\n\n\n