2007 Annual Report - Sappi
2007 Annual Report - Sappi
2007 Annual Report - Sappi
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38. Directors’ interests<br />
The following table sets out the directors’ interests in the shares in <strong>Sappi</strong> Limited. For the purpose of this table, directors’<br />
interests are those in shares owned either directly or indirectly as well as those shares in respect of which directors have vested<br />
obligations to purchase shares or repay loans in terms of the <strong>Sappi</strong> Limited Share Incentive Trust.<br />
<strong>2007</strong> 2006<br />
Direct Interests Indirect Direct Interests Indirect<br />
Vested Interests Vested Interests<br />
obligations<br />
obligations<br />
to purchase<br />
to purchase<br />
or repay<br />
or repay<br />
Director Beneficial loans Beneficial Beneficial loans Beneficial<br />
Non-executive directors<br />
D C Brink – – 10,000 – – 10,000<br />
M Feldberg – – – – – –<br />
J E Healey – – – – – –<br />
K de Kluis (1) – – – 4,000 – –<br />
D Konar – – – – – –<br />
H C Mamsch – – – – – –<br />
B Radebe – – – – – –<br />
A N R Rudd – – – – – –<br />
F A Sonn – – – – – –<br />
E van As – – – – – –<br />
K Osar (2) – – – – – –<br />
J McKenzie (3) – – – – – –<br />
Executive directors<br />
M R Thompson (4) – 36,300 – – 40,200 –<br />
RJ Boëttger (5) – – – – – –<br />
J L Job (6) – – – – – –<br />
J C A Leslie (7) – – – – – –<br />
D G Wilson (8) – – – – – –<br />
W Pfarl (9) – – – – 25,000 –<br />
E van As 248,000 200,000 316,959 245,000 200,000 377,636<br />
Total 248,000 236,300 326,959 249,000 265,200 387,636<br />
(1) Retired in December 2006.<br />
(2) Appointed in May <strong>2007</strong>.<br />
(3) Appointed in September <strong>2007</strong>.<br />
(4) Appointed in August 2006.<br />
(5) Appointed in July <strong>2007</strong>.<br />
(6) Resigned December 2005.<br />
(7) Resigned March 2006.<br />
(8) Resigned July 2006.<br />
(9) Retired June <strong>2007</strong>.<br />
Changes in directors’ interests in <strong>Sappi</strong> Limited shares after year-end<br />
Subsequent to year-end in November <strong>2007</strong>, Mr E van As fulfilled his obligation in respect of 100,000 shares of the 200,000<br />
vested obligations to purchase listed above.<br />
Directors’ interests in contracts<br />
On September 12, 2006 Mr E van As entered into a zero cost collar contract with a commercial bank for 246 959 shares<br />
that are indirectly beneficially held by himself. The collar contract has a put strike price of R94.07 per share and call strike<br />
price of R111.99 per share. The term of the contract is for 364 days.<br />
The directors have certified that they had no material interest in any significant transaction with either the company or any of<br />
its subsidiaries. Therefore there is no conflict of interest with regard to directors’ interests in contracts.<br />
sappi limited | 07 | annual report 173
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