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SAP - Sappi Limited - Vesting of conditional share awards granted to directors
of listed company
Sappi Limited
(Registration number 1936/008963/06)
(Incorporated in the Republic of South Africa)
Share code: SAP ISIN: ZAE000006284)
("Sappi" or the "Company")
VESTING OF CONDITIONAL SHARE AWARDS GRANTED TO DIRECTORS OF LISTED 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 to the undermentioned directors of the Company and
its major subsidiary companies:
Nature of transaction : Vesting of grants of conditional
share awards in terms of the Sappi
Limited Performance Share Incentive
Plan.
Date of transaction : 23 December 2008 (date participants informed of
vesting)
Number of conditional
Share awards granted : Various, see table below
Date of Grants : 13 December 2004 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 period
1 October 2004 to 30 September 2008
Vesting period : 4 years from date of grant
Percentage of grants
vested : 75%, see table below
Class of security : Ordinary shares
Extent of interest : Direct beneficial
Director`s Name : M R Thompson
Company : Sappi Limited
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 6,917
Director`s Name : B M Dick
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
3,000 2,250 750 Nil 2,250
3,600 2,700 900 1,491shares 1,209
6 600 4,950 1,650 3,459
Director`s Name : R D Hope
Company : Sappi Fine Paper North America
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 6,917
Director`s Name : J H Labuschagne
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
3,000 2,250 750 Nil 2,250
3,600 2,700 900 1,491shares 1,209
6 600 4,950 1,650 3,459
Director`s Name : V A R Lubbe
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 Reduction
for -639
retirement 6,278
Director`s Name : S G Manchester
Company : Sappi Fine Paper North America
of which she is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
3,000 2,250 750 Nil 2,250
3,600 2,700 900 1,491 shares 1,209
6 600 4,950 1,650 3,459
Director`s Name : J Miller
Company : Sappi Fine Paper North America
of which she is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
4,000 3,000 1,000 Nil 3,000
4,800 3,600 1,200 1,988 shares 1,612
8,800 4,950 2,200 4,612
Director`s Name : D M Mncube
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 6,917
Director`s Name : A Rossi
Company : Sappi Fine Paper Europe
of which he is a director Sappi Fine Paper North America
Sappi Southern Africa
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 6,917
Director`s Name : A Tubb
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 4,500 1,500 Nil 4,500
7,200 5,400 1,800 2,983 shares 2,417
13 200 9,900 3,300 6,917
Director`s Name : A J W van der Merwe
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment for Number of
Grants Grants Grants original Shares to
Awarded Vested Lapsed Grants nil/ Participant
settlement
of
additional
Grants at
R20,27 per
Grant
2,000 1,500 500 Nil 1,500
2,400 1,800 600 994 shares 806
4,400 3,300 1,100 2,306
Date: 29/12/2008 15:30:22 Supplied by www.sharenet.co.za
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