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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 ZAE 000006284 NYSE code SPP ("Sappi" or "the Company") 1. 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 director of the Company. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions: Director`s Name : R J Boettger Nature of transaction : Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive
Plan. Date of transaction : 11 August 2011 (date participant informed of vesting)
Number of conditional Share awards originally Granted : 220,000 Date of Grants : 02 July 2007 (100,000 for nil consideration) and 15 December 2008 (120,000, ie 6 additional grants for every 5 existing grants at R20,27 each -total R2,432,400- to take cognizance of Sappi Limited rights offer).
Applicable to 4 year performance period 01 October 2006 to 30 September 2010 Vesting period : 4 years from date of original grant Percentage of grants vested : 50% Number of grants vested : 110,000 Total Value : R2,772,000.00 Number of grants lapsed : 110,000 Total Value : R2,772,000.00 Payment for vested grants : Surrender of 48,262 grants Total Value : R1,216,200.00 Number of shares to director : 61,738 Total Value : R1,555,797.60 Class of security : Ordinary shares Extent of interest : Direct beneficial 2. DEALING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding dealing in securities of Sappi by a director of +the Company. The dealing was an on-market transaction and clearance for the dealing was received in terms of Listings Requirement 3.66, as follows: Director`s Name : R J Boettger Company : Sappi Limited Date of transaction : 11 August 2011 Nature of transaction : Sale of shares to defray taxation payable on 61,738 shares referred to in (1) above Total Value : R624,440 Number of Shares sold : 24,700 Selling price per share : R25,20 Class of security : Ordinary shares Extent of interest : Direct beneficial Denis O`Connor Group Secretary Sappi Limited Tel +27 11 407 8111 Fax +27 11 339 1881 e-Mail Denis.O`Connor@sappi.com www.sappiI.com 11 August 2011 Sponsor: UBS South Africa (Pty) Ltd Date: 11/08/2011 17:11:34 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
