2012 Integrated report - Sappi

Notes to the group annual financial statements
for the year ended September 2012
34. Directors’ and prescribed officers’ interests
The following table sets out each director’s and prescribed officer’s interests in shares and other securities in Sappi Limited. For the
purposes of this table, each director’s and prescribed officer’s interests include shares that are owned either directly or indirectly as
well as those shares in which directors and prescribed officers have vested obligations to purchase or to repay loans in terms of the
Sappi Limited Share Incentive Trust.
Director
Beneficial
Direct interests
2012 2011
Indirect
interests
Vested
obligations
to purchase
or repay loans Beneficial Beneficial
Direct interests
Vested
obligations
to purchase
or repay loans
Indirect
interests
Beneficial
Non-executive directors
R Thummer 7,542 – – 7,542 – –
M V Moosa (1) – – 626,998 – – 626,998
Executive directors
M R Thompson (2) 34,612 – – 20,517 39,600 –
R J Boëttger 140,307 – – 122,038 – –
Prescribed officers
Officer 1 35,695 – – 11,000 – –
Officer 2 24,695 – – – – –
Officer 3 24,532 – – 13,419 – –
Officer 4 18,173 – – 12,243 – –
Officer 5 122,645 – – 109,737 39,600 –
Officer 6 52,345 – – 47,184 2,200 –
Officer 7 – – – 24,105 22,000 –
Officer 8 – – – – – –
Total 460,546 – 626,998 367,785 103,400 626,998
(1) M V Moosa holds a 31.8% share of Lereko Investment (Pty) Ltd which holds a total of 1,971,693 Sappi Limited shares as part of the BEE transaction described in
notes 17 and 28. M V Moosa was appointed a director of the company after the conclusion of the BEE transaction.
(2) In fiscal 2011, M R Thompson purchased 142,000 of the Sappi senior secured notes due 2014 at a total cost of €144,837.16. In August 2012, these notes were
redeemed in terms of a compulsory redemption and termination of outstanding 2014 notes as part of the 2012 refinancing.
On 28 November 2012, M A Fallon purchased 5,000 Sappi shares at ZAR28.00 per share. Other than the aforementioned purchase
of shares by M A Fallon, there has not been any changes in the direct or indirect beneficial interests of the directors and their associates
between financial year-end and the date of this report.
Directors’ interests in contracts
Meyer Feldberg, a non-executive director of the company, disclosed his role as senior advisor of Morgan Stanley & Co. Limited, a financial
advisor to Sappi, and Morgan Stanley South Africa (Pty) Limited, a transaction sponsor to Sappi Limited.
Other than M Feldberg’s role as senior advisor of Morgan Stanley & Co. Limited, M V Moosa’s interest in the BEE transaction described
above and in note 28, and M R Thompson’s interest in the Senior Secured Notes due 2014, the directors have certified that they did not
have any material interest in any significant transaction with either the company or any of its subsidiaries, other than those on a normal
employment basis.
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