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SAP - Sappi Limited - Vesting of conditional share awards granted to directors
of listed company
Sappi Limited
Reg No 1936/008963/06
(Incorporated in the Republic of South Africa)
JSE Code SAP
ISIN code ZAE000006284
NYSE code SPP
("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. The necessary authority in terms of paragraph
3.66 was obtained and these were off-market transactions:
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 : Sappi International
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
4,000 2,000 2,000 Nil 2,000
4,800 2,400 2,400 1,335 1,065 72,860.00
8 800 4,400 4,400 shares 3,065
38,797.05
111,657.95
Company Secretary Name : J B Boner
Company : Sappi Fine Paper Europe
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
6,500 3,250 3,250 Nil 3,250 118,397.50
7,800 3,900 3,900 2,170 1,730
14,300 7,150 7,150 shares 4,980 63,023.90
181,421.40
Director`s Name : H de Jongh
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
15,000 7,500 7,500 Nil 7,500 273,225.00
18,000 9,000 9,000 5,008 3,992 145,428.56
33 000 16,500 16,500 shares 11,492 418,653.56
Director`s Name : L Di Amato
Company : Sappi International
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
1,500 750 750 Nil 750 27,322.50
1,800 900 900 501 shares 399 14,535.57
3,300 1,650 1,650 1,149 41,858.07
Director`s Name : T S Hawkes
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
4,000 2,000 2,000 Nil 2,000
4,800 2,400 2,400 1,335 1,065 72,860.00
8 800 4,400 4,400 shares 3,065
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 Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
30,000 15,000 15,000 Nil 15,000 546,450.00
36,000 18,000 18,000 10,015 7,985 290,893.55
66 000 33,000 33,000 shares 22,985 837,343.55
Director`s Name : D M Mncube
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
20,000 10,000 10,000 Nil 10,000 364,300.00
24,000 12,000 12,000 6,677 5,323 193,916.89
44,000 22,000 22,000 shares 15,323 558,216.89
Director`s Name : C M Mowatt
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
15,000 7,500 7,500 Nil 7,500 273,225.00
18,000 9,000 9,000 5,008 3,992 145,428.56
33,000 16,500 16,500 shares 11,492 418,653.56
Director`s Name : L J Newman
Company : Sappi International
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
6,000 3,000 3,000 Nil 3,000 109,290.00
7,200 3,600 3,600 2,003 1,597
13,200 6,600 6,600 shares 4,597 58,178.71
167,468.71
Company Secretary Name : D J O`Connor
Company : Sappi Limited
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
2,500 1,250 1,250 Nil 1,250
3,000 1,500 1,500 R30,405.00 1,500 45,537.50
5,500 2,750 2,750 2,750
54,645.00
100,182.50
Director`s Name : J Passler
Company : Sappi International
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
8,000 4,000 4,000 Nil 4,000 145,720.00
9,600 4,800 4,800 2,671 2,129
17,600 8,800 8,800 shares 6,129 77,559.47
223,279.47
Director`s Name : G Pearce
Company : Sappi Fine Paper Europe
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
4,500 2,250 2,250 Nil 2,250
5,400 2,700 2,700 1,502 1,198 81,967.50
9,900 4,950 4,950 shares 3,448
43,643.14
125,610.64
Director`s Name : R Peelman
Company : Sappi International
of which she is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
3,000 1,500 1,500 Nil 1,500 54,645.00
3,600 1,800 1,800 1,002 798 29,071.14
6,600 3,300 3,300 shares 2,298 83,716.14
Director`s Name : A Rossi
Company : Sappi Fine Paper North America
of which he is a director Sappi Southern Africa
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
12,000 6,000 6,000 Nil 6,000 218,580.00
14,400 7,200 7,200 4,006 3,194 116,357.42
26 400 13,200 13,200 shares 9,194 334,937.42
Director`s Name : L Swartz
Company : Sappi Southern Africa, Sappi Fine Paper North
America
of which she is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
14,000 7,000 7,000 Nil 7,000 255,010.00
16,800 8,400 8,400 4,674 3,726 135,738.18
30,800 15,400 15,400 shares 10,726 390,748.18
Director`s Name : A Thiel
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
13,000 6,500 6,500 Nil 6,500 236,795.00
15,600 7,800 7,800 4,340 3,460 126,047.80
28,600 14,300 14,300 shares 9,960 362,842.80
Director`s Name : G M Van Aarde
Company : Sappi Southern Africa
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
4,000 2,000 2,000 Nil 2,000
4,800 2,400 2,400 1,335 1,065 72,860.00
8,800 4,400 4,400 shares 3,065
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 Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
8,000 4,000 4,000 Nil 4,000 145,720.00
9,600 4,800 4,800 2,671 2,129
17,600 8,800 8,800 shares 6,129 77,559.47
223,279.47
Director`s Name : B Wiersum
Company : Sappi Fine Paper Europe
of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
50,000 25,000 25,000 Nil 25,000 910,750.00
60,000 30,000 30,000 16,692 13,308 484,810.44
110,000 55,000 55,000 shares 38,308 1,395,560.44
3 June 2011
Sponsor: UBS South Africa (Pty) Ltd
Date: 03/06/2011 11:00:04 Supplied by www.sharenet.co.za
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