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SAP
SAVVI
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 ZAE000006284
NYSE code SPP
("Sappi" or "the Company")
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 : Vesting of grants of conditional share awards in
transaction terms of the Sappi Limited Performance Share
Incentive Plan.
Date of transaction: 14 December 2011 (date participants informed of
vesting)
Number of conditional
Share awards granted: Various, see table below
Date of Grants: 12 December 2007 and 15 December 2008 (6 additional
grants for every 5 existing grants at R20,27 to take
cognisance of Sappi Limited rights offer). Applicable
to 4 year period 1 October 2007 to 30 September 2011
Vesting period : 4 years from date of grant
Percentage of grants vested : 50%, see table below
Class of security : Ordinary shares
Extent of interest : Direct beneficial
Director`s Name : R J Boettger
Company : Sappi Limited of which he is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at
R20,27 per
Grant
50,000 25,000 25,000 Nil 25,000 630,000.00
60,000 30,000 30 000 24,131 shares 5 869 147,898.80
110 000 55,000 55,000 30,869 777,898.80
Director`s Name : H Boner
Company : Sappi Fine Paper Europe of which he is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at
R20,27 per
Grant
12,000 6,000 6,000 Nil 6,000 151,200.00
14,400 7,200 7,200 5,791 shares 1,409
26,400 13,200 13,200 7,409 35,506.80
186,706.80
Director`s Name : H A de Jongh
Company : Sappi Southern Africa of which he is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at R20,27
per Grant
16,000 8,000 8,000 Nil 8,000 201,600.00
19,200 9,600 9,600 7,722 shares 1,878
35 200 17,600 17,600 9,878 47,325.60
248 925.60
Director`s Name : R D Hope
Company : Sappi Fine Paper North America, Sappi Southern Africa of which he
is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at
R20,27 per
Grant
35,000 17,500 17,500 Nil 17,500 441,000.00
42,000 21,000 21,000 16,892 shares 4,108 103,521.60
77 000 38,500 38,500 21,608 544,521.60
Director`s Name : C M Mowatt
Company : Sappi Southern Africa of which he is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at
R20,27 per
Grant
15,000 7,500 7,500 Nil 7,500 189,000.00
18,000 9,000 9,000 7,239 shares 1,761
33,000 16,500 16,500 9,261 44,337.20
233,337.20
Director`s Name : A Rossi
Company : Sappi Fine Paper North America of which he is a
director Sappi Southern Africa
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
15,000 7,500 7,500 Nil 7,500 189,000.00
18,000 9,000 9,000 7,239 1,761 44
33,000 16,500 16,500 shares 9,261 377.20
233 377.20
Director`s Name : L Swartz
Company : Sappi Southern Africa, Sappi Fine Paper North America of which
she is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
19,000 9,500 9,500 Nil 9,500 239,400.00
22,800 11,400 11,400 9,170 2,230
41,800 20,900 20,900 shares 11,730 56,196.00
295,596.00
Director`s Name : A Thiel
Company : Sappi Southern Africa of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
18,000 9,000 9,000 Nil 9,000 226,800.00
21,600 10,800 10,800 8,687 2,113
39,600 19,800 19,800 shares 11,113 53,247.60
280,047.60
Director`s Name : M R Thompson
Company : Sappi Limited of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
40,000 20,000 20,000 Nil 20,000 504,000.00
48,000 24,000 24,000 19,305 4,695 118,314.00
88,000 44,000 44,000 shares 24,695 622,314.00
Director`s Name : G M Van Aarde
Company : Sappi Southern Africa of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
10,000 5,000 5,000 Nil 5,000
12,000 6,000 6,000 4,826 1,174 126,000.00
22,000 11,000 11,000 shares 6,174
29,584.80
155,584.80
Director`s Name : A J W van der Merwe
Company : Sappi Southern Africa of which he is a director
Number of Number of Number of Payment Number of Value
Grants Grants Grants for Shares to (R)
Awarded Vested Lapsed original Participant
Grants
nil/
settlement
of
additional
Grants at
R20,27 per
Grant
8,000 4,000 4,000 Nil 4,000 100,800.00
9,600 4,800 4,800 3,861 939
17,600 8,800 8,800 shares 4,939 23,662.80
124,462.80
Director`s Name : B Wiersum
Company : Sappi Fine Paper Europe of which he is a director
Number of Number of Number of Payment for Number of Value
Grants Grants Grants original Grants Shares to (R)
Awarded Vested Lapsed nil/ settlement Participant
of additional
Grants at R20,27
per Grant
40,000 20,000 20,000 Nil 20,000
48,000 24,000 24,000 19,305 shares 4,695 504,000.00
88,000 44,000 44,000 24,695
118,314.00
622,314.00
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 Boettger
Company : Sappi Limited
Date of transaction : 14 December 2011
Nature of transaction : Sale of shares to defray taxation payable on
30 869 shares referred to under R J Boettger in
(1) above
Number of Shares sold : 12,600
Selling price per share : R25.18 = (523 Shares)
R25.00 (12,077 Shares)
Total Value : R315,094.14
Class of security : Ordinary shares R25.00
Extent of interest : Direct beneficial
Director`s Name : R D Hope
Company : Sappi Limited
Date of transaction : 14 December 2011
Nature of transaction : Sale of shares to defray taxation payable
on 21,608 shares referred to under R D Hope in
(1) above
Number of Shares sold : 8,700
Selling price per share : R25.00
Total Value : R217,500.00
Class of security : Ordinary shares
Extent of interest : Direct beneficial
Director`s Name : H A de Jongh
Company : Sappi Limited
Date of transaction : 14 December 2011
Nature of transaction : Sale of shares
Number of Shares sold : 9,878
Selling price per share : R24.65 (1,844 Shares)
R24.59 (2,000 Shares)
R24.58 (1,011 Shares)
R24.29 (3,292 Shares)
R24.63 (671 Shares)
R24.31 (1,060 Shares)
Total Value : R241,743.31
Class of security : Ordinary shares
Extent of interest : Direct beneficial
15 December 2011
Sponsor: UBS South Africa (Pty) Ltd
Date: 15/12/2011 16:12:03 Produced by the JSE SENS Department.
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