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Dealing in securities by directors and company secretaries
Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
("Sappi" or the "Company")
11 December 2020
DEALING IN SECURITIES BY DIRECTORS AND COMPANY SECRETARIES
VESTING AND SALE OF CONDITIONAL SHARE AWARDS TO DIRECTORS OF LISTED
COMPANY AND COMPANY SECRETARY
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited
(“Requirements”), we hereby provide the following information regarding the vesting and sale
of conditional share awards by directors of the Company and its major subsidiary companies
and company secretary. The necessary authority in terms of paragraph 3.66 of the
Requirements was obtained.
VESTING
These were off-market transactions:
Date of notification of transaction to : 09 December 2020
participant
Nature of transaction : Vesting of grants of conditional share awards
in terms of the Sappi Limited Performance
Share Incentive Plan
Number of conditional share awards : Various, see table below
granted
Date of grant : 09 December 2016
Implied price : R33.26 (closing price on 08 December 2020)
Vesting period : 4 years from date of grant
Percentage of grants vested : 50%
Class of security : Ordinary shares
Extent of interest : Direct beneficial
Page 2 of 3
NUMBER OF
NOTIONAL
SHARES
VALUE
NAME COMPANY SUBJECT TO
CONDITIONAL
(R)
AWARDS
SR Binnie Sappi Limited 64 800* 2 155 248.00
S Blyth Sappi Europe SA 13 500 449 010.00
M Boles Sappi Papier Holding 2 350 78 161.00
GR Bowles Sappi North America, Inc 37 500 1 247 250.00
D Daniel Sappi Papier Holding 1 250 41 575.00
MG Haws Sappi North America Inc 13 000 432 380.00
B Köehldorfer Sappi Papier Holding 4 100 136 366.00
Sappi North America, Inc (Company 432 380.00
S Manchester 13 000
Secretary)
MI Mansoor Sappi Papier Holding 7 550 251 113.00
FCS Marupen Sappi North America, Inc 30 000 997 800.00
PG Moodley Sappi Southern Africa 11 000 365 860.00
J Pässler Sappi Papier Holding 13 550 450 673.00
GT Pearce Sappi Limited 30 000* 997 800.00
B Riegler Sappi Papier Holding 1 050 34 923.00
AvC Thiel Sappi Southern Africa 45 000 1 496 700.00
M van Hoven Sappi North America, Inc 35 000 1 164 100.00
BJ Wiersum Sappi Papier Holding 45 000 1 496 700.00
S Wurdinger Sappi Europe SA 11 250 374 175.00
* The CEO, Mr Steve Binnie and the CFO, Mr Glen Pearce volunteered to take a 40%
vesting of shares instead of a 50% after the group’s FY20 performance was severely
impacted by the Covid-19 pandemic, related lockdowns and the economic aftereffect.
SALE OF SHARES
Date of transaction : 09 December 2020
Nature of transaction : Sale of shares (on market) to settle tax liability
arising from vesting of conditional share awards
as listed above.
Directors’ names and number of shares : Various, see table below
sold
Volume weighted average selling price per : R32.5329 (high R33.50; low R32.50)
share
Class of security : Ordinary shares
Extent of interest : Direct beneficial
Page 3 of 3
NOTIONAL
NUMBER OF VALUE
NAME COMPANY
SHARES SOLD
(R)
SR Binnie Sappi Limited 24 800 806 815.92
S Blyth Sappi Europe SA 6 277 204 209.01
GR Bowles Sappi North America, Inc 17 437 567 276.18
D Daniel Sappi Papier Holding 1 250 40 666.13
Sappi North America, Inc (Company 422 927.70
S Manchester 13 000
Secretary)
FCS Marupen Sappi North America, Inc 13 950 453 833.96
PG Moodley Sappi Southern Africa 5 115 166 405.78
J Pässler Sappi Papier Holding 13 550 440 820.80
M van Hoven Sappi North America, Inc 16 275 529 472.95
Sponsor : UBS South Africa (Pty) Ltd
Date: 11-12-2020 03:42:00
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