2008 Annual report - Sappi

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Notes to the group annual financial statements // continued for the year ended September 2008 36. Directors’ participation in The Sappi Limited Share Incentive Trust (Scheme) and The Sappi Limited Performance Share Incentive Trust (Plan) (continued) Share options, allocation shares and performance shares (continued) Dealings in the Scheme and the Plan for the year ended September 2008 None for the current year Dealings in the Scheme and the Plan for the year ended September 2007 Market Gains on Number value at shares of shares Allocation date of paid for Director Date paid for paid for price payment US$ (1) Executive directors W Pfarl (2) Option 15 November 2006 50,000 R53.85 R111.19 397,962 Deferred Sale 15 November 2006 25,000 R49.00 R111.19 215,811 M R Thompson Deferred Sale 14 December 2006 15,000 R53.85 R115.79 133,004 Total 90,000 746,777 (1) Converted from South African Rand to US Dollars at the exchange rates on the date of sale. (2) Retired June 2007. 180
sappi // Company auditor’s report Independent auditor’s report to the members of Sappi Limited The condensed annual financial statements of Sappi Limited set out on pages 182 to 187 have been derived from the annual financial statements of the company for the year ended September 2008. We have audited the annual financial statements in accordance with International Auditing Standards (IAS). In our report dated 03 December 2008, we expressed an unqualified opinion on the annual financial statements from which the condensed financial statements were derived. Opinion In our opinion, the accompanying condensed financial statements are consistent, in all material respects, with the annual financial statements from which they were derived. For a better understanding of the scope of our audit and the company’s financial position, the results of its operations and cash flows for the period, the condensed financial statements should be read in conjunction with our audit report and the annual financial statements from which they were derived. Deloitte & Touche Per M J Comber Partner 03 December 2008 Deloitte & Touche – Registered Auditors Buildings 1 and 2, Deloitte Place The Woodlands, Woodlands Drive, Woodmead Sandton Johannesburg, South Africa National Executive: G G Gelink Chief Executive A E Swiegers Chief Operating Officer G M Pinnock Audit D L Kennedy Tax & Legal and Financial Advisory L Geeringh Consulting L Bam Corporate Finance C R Beukman Finance T J Brown Clients & Markets N T Mtoba Chairman of the Board A full list of partners and directors is available on request. // 2008 Annual report 181
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annual report 2008
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sappi Our report in overview In pro
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sappi Our performance The group’s
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sappi Target Target Net debt to tot
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sappi Our score on the DJSI World D
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sappi People continued Our commitme
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sappi Our business structure Johann
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sappi Pulp Paper pulp is the main r
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sappi Ideas that matter Print remai
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sappi Objectives for 2009 Meaningf
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sappi Deenadayalen (Len) Konar // (
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sappi Divisional and corporate mana
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sappi We are of the opinion that su
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sappi input cost reductions across
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sappi Q // Will the integration of
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sappi Sappi Fine Paper Mills/ Capac
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sappi deliver excellent service and
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sappi Transaction funding overview
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sappi Sappi Forest Products Mills/
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sappi Demand and prices in the inte
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Risk management Our top risks These
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Risk management // continued Risk m
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Chief financial officer’s report
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Five year review Not restated for I
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Share statistics at September 2008
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Corporate governance We are committ
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Corporate governance // continued E
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Corporate governance // continued A
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Corporate governance // continued r
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Compensation report Compensation co
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Annual financial statements for the
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Directors’ approval The directors
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Directors’ report // continued fo
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Group income statement for the year
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Group cash flow statement for the y
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Group income statement in Rands con
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Group cash flow statement in Rands
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Notes to the group annual financial
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Page 132 and 133: Notes to the group annual financial
Page 184 and 185: Condensed Sappi Limited company inc
Page 186 and 187: Condensed Sappi Limited company cas
Page 188 and 189: Notes to the condensed Sappi Limite
Page 190 and 191: Glossary General definitions bleach
Page 192 and 193: Glossary // continued Non-GAAP fina
Page 194 and 195: Notice to shareholders // continued
Page 196 and 197: Notice to shareholders // continued
Page 198 and 199: Shareholder’s diary Annual genera
Page 200 and 201: Notes to proxy The form of proxy mu
Page 202 and 203: Notes 1. To be effective, this form
Page 204 and 205: Notes 1. To be effective, this form
Page 206: www.sappi.com
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2008 Annual report - Sappi

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