Our performance in 2009 - Sappi

2009 annual report
29. Share-based payments continued
Scheme shares, Share options, Restricted shares, Performance shares and Allocation shares activity was as follows
during the financial years ended September 2009 and 2008:
Scheme
shares***
Restricted
shares
Share
options (1)
Perfor-
mance
shares (2)
Weighted
average
exercise
price
(ZAR)*
Allocation
shares (1)
Weighted
average
exercise
price
(ZAR)*
163
Total
shares
Outstanding at September 2007 1,442,662 10,000 3,128,950 3,317,400 49.01 1,408,550 98.20 9,307,562
– Offered and accepted – – 911,700 730,000 52.02 – – 1,641,700
– Paid for/released (90,800) – (452,200) – 63.47 (273,750) – (816,750)
– Returned, lapsed and forfeited (31,800) – (355,750) (96,300) 93.76 (29,350) – (513,200)
– Back into Trust 31,800 – – – 147.20 – – 31,800
Outstanding at September 2008 1,351,862 10,000 3,232,700 3,951,100 46.00 1,105,450 98.20 9,651,112
– Offered and accepted 1,577,834 12,000 5,951,970 6,540,240 19.96 1,307,700 20.27 15,389,744
– Paid for/released (75,060) (22,000) (206,140) (165,491) 20.95 (214,660) 30.68 (683,351)
– Returned, lapsed and forfeited 5,736 – (734,150) (360,289) 41.69 (352,540) 54.12 (1,441,243)
– Back into Trust – – – – – – – –
Outstanding at September 2009 2,860,372 – 8,244,380 9,965,560 29.33 1,845,950 65.24 22,916,262
Exercisable at September 2007 587,600 – 2,104,550 – 96.21 1,196,650 99.71 3,888,800
Exercisable at September 2008 491,300 – 1,906,330 5,000 96.97 1,032,300 110.22 3,434,930
Exercisable at September 2009 752,600 – 4,835,090 – 55.60 1,845,950 65.24 7,433,640
*** The Share options are issued in South African Rands.
*** Restricted shares (awarded on an ad-hoc basis to certain individuals on various terms and conditions) and Performance shares are issued for no cash
consideration. The value is determined on the day the shares are taken up.
*** The number of Scheme shares, which are not subject to credit sales amounts to 2,107,772 (2008: 855,662), includes 1,026,794 rights offer Scheme shares
taken up at ZAR20.27 per share, included in offered and accepted in the current fiscal year.
(1) Issued in terms of the Scheme.
(2) Issued in terms of the Plan.
The fair value of Scheme shares held at September 2009 was US$8.1 million (September 2008: US$8.7 million).
financials