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SAPPI LIMITED - Vesting of conditional share awards granted to directors of listed company

Release Date: 11/12/2013 11:41
Code(s): SAP     PDF:  
Wrap Text
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
(“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 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         :     9 December 2013 (date participants informed of vesting)

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

 Date of Grants              :     9 December 2009

 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 he is a       :    Sappi Limited, Sappi Fine Paper Europe, Sappi Fine
director                            Paper North America, Sappi Southern Africa

                                                                        Value
 Number of grants awarded          Number of grants vested
                                                                          R

            195 000                         73 125                   2 160 112.50



Director’s name                :    H Boner (Company Secretary)
Company of which he is a       :    Sappi Fine Paper Europe
secretary

                                                                        Value
 Number of grants awarded          Number of grants vested
                                                                          R

             51 300                         19 238                   568 290.52



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

                                                                        Value
 Number of grants awarded          Number of grants vested
                                                                          R

             53 500                         20 063                   592 661.02



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

                                                                        Value
 Number of grants awarded          Number of grants vested
                                                                          R

            120 000                         45 000                    1 329 300




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

                                                                    Value
 Number of grants awarded       Number of grants vested
                                                                      R

            43 000                       16 125                   476 332.50



Director’s name             :    T Hawkes
Company of which he is a    :    Sappi Southern Africa
director

                                                                    Value
 Number of grants awarded       Number of grants vested
                                                                      R

            38 200                       14 325                   423 160.50



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

                                                                    Value
 Number of grants awarded       Number of grants vested
                                                                      R

            52 500                       19 688                   581 583.52



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

                                                                    Value
 Number of grants awarded       Number of grants vested
                                                                      R

            47 750                       17 906                   528 943.24




                                     Page 3 of 7
Director’s name             :    C M Mowatt
Company of which he is a    :    Sappi Southern Africa
director

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            47 700                       17 888                  528 411.52



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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            51 300                       19 238                  568 290.52



Director’s name             :    M Quaedvlieg
Company of which he is a    :    Sappi Fine Paper Europe
director

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            51 300                       19 238                  568 290.52



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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            80 000                       30 000                  886 200.00




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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            65 000                         24 375                720 037.50




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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            80 000                         30 000                886 200.00



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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

            43 000                         16 125                476 332.50



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

                                                                   Value
 Number of grants awarded       Number of grants vested
                                                                     R

           120 000                         45 000               1 329 300.00




                                   
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, Sappi Fine Paper Europe, Sappi Fine Paper
                              North America, Sappi Southern Africa

Date of transaction       :   9 December 2013

Nature of transaction     :   Sale of shares to defray taxation payable on 73 125 shares
                              referred to under R J Boëttger in (1) above.

Number of shares sold     :   30 347

Selling price per share   :   R28.9716

Total value               :   R879 201.15

Class of security         :   Ordinary shares

Extent of interest        :   Direct beneficial



Director’s name           :   H A de Jongh

Company                   :   Sappi Southern Africa

Date of transaction       :   10 December 2013

Nature of transaction     :   Sale of shares

Number of shares sold     :   20 063

Selling price per share   :   R29.3004

Total value               :   R587 853.93

Class of security         :   Ordinary shares

Extent of interest        :   Direct beneficial




                                          
Director’s name                      :   J M Miller

Company                              :   Sappi Fine Paper North America

Date of transaction                  :   10 December 2013

Nature of transaction                :   Sale of shares

Number of shares sold                :   17 906

Selling price per share              :   R29.3898

Total value                          :   R526 253.76

Class of security                    :   Ordinary shares

Extent of interest                   :   Direct beneficial



Director’s name                      :   S Manchester

Company                              :   Sappi Fine Paper North America

Date of transaction                  :   10 December 2013

Nature of transaction                :   Sale of shares

Number of shares sold                :   19 688

Selling price per share              :   R29.3269

Total value                          :   R577 388.00

Class of security                    :   Ordinary shares

Extent of interest                   :   Direct beneficial


Denis O’Connor
Group Secretary
Sappi Limited
Tel +27 (0)11 407 8072
Fax +27 (0)11 339 1881
Denis.OConnor@Sappi.com


11 December 2013
Sponsor: UBS South Africa (Pty) Ltd
                                                          

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