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SAPPI LIMITED - Dealing in securities by Directors and company secretaries

Release Date: 11/12/2019 15:00
Code(s): SAP     PDF:  
 
Wrap Text
Dealing in securities by Directors and company secretaries

Sappi Limited
Reg No 1936/008963/06
(Incorporated in the Republic of South Africa)
JSE Code SAP
ISIN code ZAE000006284
(“Sappi” or “the Company”)


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 :     07 December 2019
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                            :   07 December 2015

Implied price                            :   R42.50 (closing price on 06 December 2019)
Vesting period                           :   4 years from date of grant

Percentage of grants vested              :   90%
Class of security                        :   Ordinary shares
Extent of interest                       :   Direct beneficial
                                                                        NUMBER OF
                                                                                        NOTIONAL
                                                                         SHARES
                                                                                         VALUE
         NAME                            COMPANY                       SUBJECT TO
                                                                       CONDITIONAL
                                                                                           (R)
                                                                         AWARDS
SR    Binnie            Sappi Limited                                     171 000       7 267 500.00
S     Blyth             Sappi Europe SA                                    29 700       1 262 250.00
GR    Bowles            Sappi North America, Inc                           81 000       3 442 500.00
M     Gardner           Sappi North America Inc/Sappi Papier Holding       94 500       4 016 250.00
MG    Haws              Sappi North America Inc/Sappi Papier Holding       27 000       1 147 500.00
B     Köhldorfer        Sappi Papier Holding                               11 700         497 250.00
S     Manchester        Sappi North America, Inc (Company Secretary)       27 900       1 185 750.00
MI    Mansoor           Sappi North America, Inc                           13 500         573 750.00
FCS   Marupen           Sappi North America, Inc                           63 000       2 677 500.00
PG    Moodley           Sappi Southern Africa                               5 310         225 675.00
J     Pässler           Sappi Papier Holding                               29 700       1 262 250.00
GT    Pearce            Sappi Limited                                      81 000       3 442 500.00
B     Riegler           Sappi Papier Holding                                2 250          95 625.00
AvC   Thiel             Sappi Southern Africa                              94 500       4 016 250.00
M     van Hoven         Sappi North America, Inc                           76 500       3 251 250.00
BJ    Wiersum           Sappi Papier Holding                               94 500       4 016 250.00
S     Wurdinger         Sappi Europe SA                                    11 700         497 250.00




SALE OF SHARES


Date of transaction                          :   09 December 2019
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 :      R42.8155 (high R43.13; low R42.70)
share
Class of security                            :   Ordinary shares

Extent of interest                           :   Direct beneficial
                                                                                        NOTIONAL
                                                                           NUMBER OF     VALUE
          NAME                              COMPANY
                                                                          SHARES SOLD
                                                                                            (R)
 SR    Binnie              Sappi Limited                                     96 000     4 110 288.00
 S     Blyth               Sappi Europe SA                                   15 295       654 863.07
 GR    Bowles              Sappi North America, Inc                          37 665     1 612 645.81
 M     Gardner             Sappi North America Inc/Sappi Papier Holding      94 500     4 046 064.75
 B     Köhldorfer          Sappi Papier Holding                               5 700       244 048.35
 S     Manchester          Sappi North America, Inc (Company Secretary)      27 900     1 194 552.45
 FCS   Marupen             Sappi North America, Inc                          29 295     1 254 280.07
 PG    Moodley             Sappi Southern Africa                              2 469       105 711.47
 J     Pässler             Sappi Papier Holding                              29 700     1 271 620.35
 GT    Pearce              Sappi Limited                                     37 665     1 612 645.81
 M     van Hoven           Sappi North America, Inc                          42 240     1 808 526.72
 S     Wurdinger           Sappi Europe SA                                   11 700       500 941.35

Johannesburg
11 December 2019

Sponsor: UBS South Africa (Pty) Ltd

Date: 11-12-2019 03:00:00
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