Vesting of Conditional Share Awards Granted to Directors of Listed Company
JOHANNESBURG, June 3, 2011 /PRNewswire/ --
Sappi Limited
Reg No 1936/008963/06
(Incorporated in the Republic of South Africa)
ISIN code ZAE 000006284
("Sappi" or "the Company")
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding the vesting of conditional share awards granted by Sappi (NYSE: SPP) (JSE: SAP) to the undermentioned directors of the Company and its major subsidiary companies. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions:
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Nature of transaction |
: |
Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Plan. |
|
Date of transaction |
: |
2 June 2011 (date participants informed of vesting) |
|
Number of conditional Share awards granted |
: |
Various, see table below |
|
Date of Grants |
: |
31 May 2007 and 15 December 2008 (6 additional grants for every 5 existing grants at R20,27 to take cognizance of Sappi Limited rights offer). Applicable to 4 year performance period 1 October 2006 to 30 September 2010 |
|
Vesting period |
: |
4 years from date of grant |
|
Percentage of grants vested |
: |
50%, see table below |
|
Class of security |
: |
Ordinary shares |
|
Extent of interest |
: |
Direct beneficial |
|
Director's Name : S Blyth
Company of which he is a director : Sappi International
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
4,000 4,800 8,800 |
2,000 2,400 4,400 |
2,000 2,400 4,400 |
Nil 1,335 shares |
2,000 1,065 3,065 |
72,860.00 38,797.05 111,657.95 |
|
Company Secretary Name : J B Boner
Company : Sappi Fine Paper Europe
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
6,500 7,800 14,300 |
3,250 3,900 7,150 |
3,250 3,900 7,150 |
Nil 2,170 shares |
3,250 1,730 4,980 |
118,397.50 63,023.90 181,421.40 |
|
Director's Name : H de Jongh
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
15,000 18,000 33,000 |
7,500 9,000 16,500 |
7,500 9,000 16,500 |
Nil 5,008 shares |
7,500 3,992 11,492 |
273,225.00 145,428.56 418,653.56 |
|
Director's Name : L Di Amato
Company : Sappi International
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
1,500 1,800 3,300 |
750 900 1,650 |
750 900 1,650 |
Nil 501 shares |
750 399 1,149 |
27,322.50 14,535.57 41,858.07 |
|
Director's Name : T S Hawkes
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
4,000 4,800 8,800 |
2,000 2,400 4,400 |
2,000 2,400 4,400 |
Nil 1,335 shares |
2,000 1,065 3,065 |
72,860.00 38,797.95 111,657.95 |
|
Director's Name : R D Hope
Company : Sappi Fine Paper North America, Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
30,000 36,000 66,000 |
15,000 18,000 33,000 |
15,000 18,000 33,000 |
Nil 10,015 shares |
15,000 7,985 22,985 |
546,450.00 290,893.55 837,343.55 |
|
Director's Name : D M Mncube
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
20,000 24,000 44,000 |
10,000 12,000 22,000 |
10,000 12,000 22,000 |
Nil 6,677 shares |
10,000 5,323 15,323 |
364,300.00 193,916.89 558,216.89 |
|
Director's Name : C M Mowatt
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
15,000 18,000 33,000 |
7,500 9,000 16,500 |
7,500 9,000 16,500 |
Nil 5,008 shares |
7,500 3,992 11,492 |
273,225.00 145,428.56 418,653.56 |
|
Director's Name : L J Newman
Company : Sappi International
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
6,000 7,200 13,200 |
3,000 3,600 6,600 |
3,000 3,600 6,600 |
Nil 2,003 shares |
3,000 1,597 4,597 |
109,290.00 58,178.71 167,468.71 |
|
Company Secretary Name : D J O'Connor
Company : Sappi Limited
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
2,500 3,000 5,500 |
1,250 1,500 2,750 |
1,250 1,500 2,750 |
Nil R30,405.00 |
1,250 1,500 2,750 |
45,537.50 54,645.00 100,182.50 |
|
Director's Name : J Passler
Company : Sappi International
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
8,000 9,600 17,600 |
4,000 4,800 8,800 |
4,000 4,800 8,800 |
Nil 2,671 shares |
4,000 2,129 6,129 |
145,720.00 77,559.47 223,279.47 |
|
Director's Name : G Pearce
Company : Sappi Fine Paper Europe
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
4,500 5,400 9,900 |
2,250 2,700 4,950 |
2,250 2,700 4,950 |
Nil 1,502 shares |
2,250 1,198 3,448 |
81,967.50 43,643.14 125,610.64 |
|
Director's Name : R Peelman
Company : Sappi International
of which she is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
3,000 3,600 6,600 |
1,500 1,800 3,300 |
1,500 1,800 3,300 |
Nil 1,002 shares |
1,500 798 2,298 |
54,645.00 29,071.14 83,716.14 |
|
Director's Name : A Rossi
Company : Sappi Fine Paper North America, Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
12,000 14,400 26,400 |
6,000 7,200 13,200 |
6,000 7,200 13,200 |
Nil 4,006 shares |
6,000 3,194 9,194 |
218,580.00 116,357.42 334,937.42 |
|
Director's Name : L Swartz
Company : Sappi Southern Africa, Sappi Fine Paper North America
of which she is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
14,000 16,800 30,800 |
7,000 8,400 15,400 |
7,000 8,400 15,400 |
Nil 4,674 shares |
7,000 3,726 10,726 |
255,010.00 135,738.18 390,748.18 |
|
Director's Name : A Thiel
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
13,000 15,600 28,600 |
6,500 7,800 14,300 |
6,500 7,800 14,300 |
Nil 4,340 shares |
6,500 3,460 9,960 |
236,795.00 126,047.80 362,842.80 |
|
Director's Name : G M Van Aarde
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
4,000 4,800 8,800 |
2,000 2,400 4,400 |
2,000 2,400 4,400 |
Nil 1,335 shares |
2,000 1,065 3,065 |
72,860.00 38,797.95 111,657.95 |
|
Director's Name : A J W van der Merwe
Company : Sappi Southern Africa
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
8,000 9,600 17,600 |
4,000 4,800 8,800 |
4,000 4,800 8,800 |
Nil 2,671 shares |
4,000 2,129 6,129 |
145,720.00 77,559.47 223,279.47 |
|
Director's Name : B Wiersum
Company : Sappi Fine Paper Europe
of which he is a director
Number of Grants Awarded |
Number of Grants Vested |
Number of Grants Lapsed |
Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant |
Number of Shares to Participant |
Value (R) |
|
50,000 60,000 110,000 |
25,000 30,000 55,000 |
25,000 30,000 55,000 |
Nil 16,692 shares |
25,000 13,308 38,308 |
910,750.00 484,810.44 1,395,560.44 |
|
LdocallshareplanvestingrantsJune2011
SOURCE Sappi Limited
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