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SAPPI LIMITED - Vesting of shares in terms of the share incentive plan

Release Date: 20/12/2012 16:45
Code(s): SAP     PDF:  
Wrap Text
Vesting of shares in terms of the share incentive plan

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”)

20 December 2012


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 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          : 19 December 2012 (date participants informed of
                                               vesting)

 Number of conditional        : Various, see table below
 Share awards granted

 Date of Grants                 : 22 December 2008

 Vesting period                 : 4 years from date of grant

 Percentage of grants           : 37.5%, see table below
 vested

 Class of security              : Ordinary shares

 Extent of interest             : Direct beneficial
  



                                                                                               
Director’s Name                 :  R J Boëttger
Company of which                :  Sappi Limited
he is a director

  Number of Grants Awarded        Number of Grants Vested            Value (R)
           154 000                                          57 750                    1 760 797.50


Director’s Name           : H Boner
Company of which          : Sappi Fine Paper Europe
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         26 400                                                  9 900                    301 851.00


Director’s Name            : H A de Jongh
Company of which           : Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         37 400                                                  14 025                   427 622.25


Director’s Name            : M Gardner
Company of which           : Sappi Fine Paper North America
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         88 000                                                  33 000                   1 006 170.00

Director’s Name            : N N Maelane
Company of which           :  Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         13 200                                                 4 950                    150 925.50


Director’s Name            : S Manchester (Company Secretary)
Company of which           : Sappi Fine Paper North America
she is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         33 000                                                 12 375                   377 313.75



                                                                                   
Director’s Name            : J M Miller
Company of which           : Sappi Fine Paper North America
she is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         35 200                                                13 200                    402 468.00



Director’s Name            : C M Mowatt
Company of which           : Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)
         37 400                                                 14 025                    427 622.25



Director’s Name            : G Pearce
Company of which           : Sappi Fine Paper Europe
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         38 500                                                   14 438                    440 214.62



Director’s Name            : A Rossi
Company of which           : Sappi Fine Paper North America, Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         55 000                                                20 625                    628 856.25



Director’s Name            : L Swartz
Company of which           : Sappi Southern Africa, Sappi Fine Paper North America
she is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)
         44 000                                                 16 500                    503 085.00



Director’s Name           : A Thiel
Company of which          : Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested              Value (R)

         55 000                                                  20 625                    628 856.25


                                                                                       
Director’s Name            : G M Van Aarde
Company of which           : Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested        Value (R)
         30 800                                                 11 550                352 159.50



Director’s Name            : A J W van der Merwe
Company of which           : Sappi Southern Africa
he is a director

Number of Grants Awarded       Number of Grants Vested        Value (R)
         28 600                                                10 725                327 005.25

Director’s Name            :  B Wiersum
Company of which           : Sappi Fine Paper Europe
he is a director

Number of Grants Awarded       Number of Grants Vested        Value(R)

         88 000                                               33 000                1 006 170.00


                                                                            
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 directors of the
Company and its major subsidiaries. The dealings were on-market transactions and
clearances for the dealings were received in terms of Listings Requirement 3.66, as follows:

Director’s Name                :  R J Boëttger
Company                        :  Sappi Limited
Date of transaction            : 19 December 2012
Nature of transaction          : Sale of shares to defray taxation payable on 57 750
                                                shares referred to under R J Boëttger in (1) above

Number of Sharessold           : 1) 7 164
                                 2) 15 936
                                  23 100

Selling price per share       :  1) R30.56
                                 2) R30.55

Total Value                    : R705 776.61
Class of security              : Ordinary shares
Extent of interest               Direct beneficial



Director’s Name               :  H A de Jongh
Company                       :  Sappi Limited
Date of transaction           :  19 December 2012
Nature of transaction         :   Sale of shares
Number of Sharessold          :  14 025
Selling price per share       :  R30.60
Total Value                   :  R429 165.00
Class of security             :  Ordinary shares
Extent of interest               Direct beneficial




                                                                                            
Director’s Name               :  J M Miller
Company                       :   Sappi Limited
Date of transaction           :  19 December 2012
Nature of transaction         :  Sale of shares
Number of Sharessold          :   1) 1 332
                                  2) 1 043
                                  3) 10 656
                                  4)    169
                                     13 200

Selling price per share       : 1)   R30.56
                                 2)   R30.59
                                 3)   R30.58
                                 4)   R30.57

Total Value                     :  R403 638.10
Class of security               :  Ordinary shares
Extent of interest                  Direct beneficial


Director’s Name                : A Rossi
Company                        :   Sappi Fine Paper North America, Sappi Southern Africa
Date of transaction            :   20 December 2012
Nature of transaction          :   Sale of shares
Number of Sharessold           :   1) 8 509
                                   2) 12 116
                                      20 625

Selling price per share        :  1) R30.59
                                  2) R30.58

Total Value                     : R630 797.59
Class of security               : Ordinary shares
Extent of interest                Direct beneficial



Denis O’Connor
Group Secretary
Sappi Limited
Denis.OConnor@Sappi.com

Sponsor: UBS South Africa (Pty) Ltd


                                                                                          

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