SAPPI LTD (SAP) 6-K

Directors’ interests in transactions
Prof. Meyer Feldberg, a non-executive director of Sappi has disclosed his role as senior advisor at an affiliated company of the Financial Advisor and
Transaction Sponsor. Other than Prof. Meyer Feldberg’s interest, the directors have certified that they had no material interest in any transaction with either
the Company or any of its Subsidiaries during the current or immediately preceding financial year, or an earlier financial year. Therefore there is no conflict of
interest with regard to directors’ interests in contracts.
Details of the Company Secretary
Sappi Management Services (Pty) Ltd
Contact Person
Business Address
Qualification
D J O’Connor
Sappi Offices, 48 Ameshoff Street, Braamfontein,
Johannesburg, 2001, South Africa
BA LLB
15. MATERIAL LOANS TO AND FROM THE SAPPI GROUP
The material loans to and from Sappi and its Subsidiaries, including material inter-company loans, before and after the Transaction, are set out in Annexure 5
to this Circular.
Outstanding Capital Loans
Refer to material loans of Sappi (Annexure 5)
16. MATERIAL CONTRACTS ENTERED INTO BY SAPPI OTHER THAN CONTRACTS IN RELATION TO THIS TRANSACTION
On 27 June 2006 Sappi Manufacturing (Pty) Ltd ("Sappi Manufacturing") issued R 1 billion (USD146 million) Senior Unsecured Fixed Rate Notes (the “First
Tranche") under its R 3 billion (USD437 million) Domestic Medium Term Note Program ("the Program") at a fixed interest rate of 9.34% payable semiannually
on 27 December , and 27 June , of each year, commencing on June 27, 2006. The securities issued under the first tranche mature on 27 June 2013.
On 25 September 2007, Sappi Manufacturing issued a second tranche of R 1 billion (USD146 million) Senior Unsecured Fixed Rate Notes ("the Second
Tranche") under the Program at a fixed interest rate of 10.64%. The interest on the securities issued under the second tranche is payable semi-annually on
April 14 and 14 October of each year, commencing on 14 April 2008. The securities issued under the second tranche mature on 14 October 2011. Sappi
Manufacturing has also agreed to observe certain undertakings with respect to the securities including limitations on encumbrances (other than permitted
encumbrances) over its assets. With regard to the second tranche only, should a change of control event (more than 50% of the voting rights of Sappi
Manufacturing be acquired by any party other than a subsidiary of Sappi) and a negative rating event (a downgrade of Sappi Manufacturing's national credit
rating, currently at AA-, of below A-) occur, then the holders of the securities may, within 60 days after the public announcement of the change of control
having occurred, require the redemption of the notes by way of an extraordinary resolution. The securities are listed on the Bond Exchange of South
Africa. The material contracts entered into by Sappi Group are available for inspection at the Sappi Offices.
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