Full annual report - African Bank - Investoreports

The components of executive directors and prescribed officers’ remuneration are as follows:
>accountability
G Schachat L Kirkinis T Fourie T Sokutu N Nalliah Total
R000 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011
Executive
directors
Salary 1 800 1 631 1 966 1 966 3 589 3 365 3 085 2 876 2 978 2 805 13 418 12 643
Contributions 1 200 200 218 218 441 415 348 329 342 320 1 551 1 482
Travel allowance – – – – 400 400 – 98 120 120 520 618
Total cost to
company package 2 000 1 831 2 184 2 184 4 430 4 180 3 433 3 303 3 440 3 245 15 487 14 743
Other benefits 2 – – – – – – 4 – 8 13 12 13
Annual cash
incentive 3 2 550 3 000 – – 900 1 045 700 1 000 975 1 350 5 125 6 395
Initial value of
LTIP awarded 4 – – – 3 500 3 250 3 553 3 000 2 178 4 250 4 204 10 500 13 435
Total
remuneration 4 550 4 831 2 184 5 684 8 580 8 778 7 137 6 481 8 673 8 812 31 124 34 586
C Chemel J de Ridder S Kahanovitz G Roussos Total
R000 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011
Prescribed officers
Salary 3 054 2 883 1 821 2 037 2 663 2 519 2 377 2 233 9 915 9 672
Contributions 1 343 319 209 261 295 271 276 260 1 122 1 111
Travel allowance 48 48 70 141 – – 111 111 230 300
Total cost to company package 3 445 3 250 2 100 2 439 2 958 2 790 2 764 2 604 11 267 11 083
Other benefits 2 – – – – 8 – – 12 8 12
Annual cash incentive 3 950 1 059 – 1 392 750 1 000 850 950 2 550 4 401
Initial value of LTIP awarded 4 4 000 5 142 – 1 250 2 750 5 277 4 500 5 119 11 250 16 788
Total remuneration 8 395 9 451 2 100 5 081 6 466 9 067 8 114 8 685 25 075 32 284
1 Contributions to retirement funds.
2 Other benefits consist of long service awards and subsistence allowances for international travel.
3 The annual cash incentives relate to performance in the respective financial year and are approved by the group remuneration and
transformation committee and paid in November subsequent to the respective financial year.
4 Award in the form of LTIP payable over five years. Also disclosed in the tables on pages 102 to 103.
African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 101