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Dealings in securities by directors and directors of major subsidiaries and the company secretaries
Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
("Sappi" or the "Company")
DEALINGS IN SECURITIES BY DIRECTORS AND DIRECTORS OF MAJOR
SUBSIDIARIES AND THE COMPANY SECRETARIES
ACCEPTANCE OF CONDITIONAL SHARE AWARDS BY DIRECTORS AND DIRECTORS
OF MAJOR SUBSIDIARIES AND THE COMPANY SECRETARIES
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited
("Requirements"), we hereby provide the following information regarding the acceptance of
conditional share awards granted by Sappi to the undermentioned directors of the Company
and its major subsidiary companies and company secretary. The necessary clearance in
terms of paragraph 3.66 of the Requirements was obtained in each instance and these were
all off-market transactions:
Date of notification of transaction to : 20 November 2024
participant and acceptance of
conditional award
Nature of transaction : Grant and acceptance of conditional share
awards in terms of the Sappi Limited
Performance Share Incentive Plan
Assumed price per conditional share : R49.38 (closing price on 19 November 2024)
award
Vesting dates for conditional share : 20 November 2028
awards
Class of security : Conditional awards of ordinary shares
Extent of interest : Direct beneficial
NUMBER OF NOTIONAL
SHARES VALUE
NAME COMPANY SUBJECT TO (R)
CONDITIONAL
AWARDS
SR Binnie Sappi Limited 210 000 10 369 800
D David Sappi Papier Holding 19 000 938 220
M Eikelenboom Sappi Papier Holding 117 000 5 777 460
MG Haws Sappi North America, Inc 117 000 5 777 460
B Köhldorfer Sappi Papier Holding 12 500 617 250
L Kruyshaar Sappi North America, Inc 81 000 3 999 780
A Mahendranath Sappi Limited (Group Company Secretary) 16 300 804 894
S Manchester Sappi North America, Inc (Company Secretary) 33 000 1 629 540
MI Mansoor Sappi North America, Inc 70 000 3 456 600
FCS Marupen Sappi North America, Inc 81 000 3 999 780
P Moodley Sappi Southern Africa 33 000 1 629 540
J Pässler Sappi Papier Holding 33 000 1 629 540
GT Pearce Sappi Limited 117 000 5 777 460
B Riegler Sappi Papier Holding 12 500 617 250
AvC Thiel Sappi Southern Africa 117 000 5 777 460
M Van Hoven Sappi North America, Inc 91 000 4 493 580
VESTING AND SALE OF CONDITIONAL SHARE AWARDS BY DIRECTORS AND
DIRECTORS OF MAJOR SUBSIDIARIES AND COMPANY SECRETARIES
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited
("Requirements"), we hereby provide the following information regarding the vesting and sale
of conditional share awards by directors of the Company and its major subsidiary companies
and company secretary. The necessary clearance in terms of paragraph 3.66 of the
Requirements was obtained in each instance.
VESTING
These were off-market transactions:
Date of notification of transaction to : 18 November 2024
participant
Nature of transaction : Vesting of conditional share awards in terms
of the Sappi Limited Performance Share
Incentive Plan
Date of grant : 18 November 2020
Assumed price per conditional share : R50.67 (closing price on 15 November 2024)
award
Vesting period : 4 years from date of grant
Percentage of grants vested : 100%
Class of security : Ordinary shares
Extent of interest : Direct beneficial
NUMBER OF
SHARES
NAME COMPANY SUBJECT TO NOTIONAL
CONDITIONAL VALUE
AWARDS (R)
SR Binnie Sappi Limited 250 000 12 667 500
D Daniel Sappi Papier Holding 25 000 1 266 750
M Eikelenboom Sappi Papier Holding 138 000 6 992 460
MG Haws Sappi North America Inc 138 000 6 992 460
B Köehldorfer Sappi Papier Holding 15 000 760 050
L Kruyshaar Sappi North America, Inc 65 000 3 293 550
A Mahendranath Sappi Limited (Group Company Secretary) 18 000 912 060
S Manchester Sappi North America, Inc (Company Secretary) 40 000 2 026 800
MI Mansoor Sappi North America, Inc 80 000 4 053 600
FCS Marupen Sappi North America, Inc 92 000 4 661 640
PG Moodley Sappi Southern Africa 40 000 2 026 800
J Pässler Sappi Papier Holding 40 000 2 026 800
GT Pearce Sappi Limited 115 000 5 827 050
B Riegler Sappi Papier Holding 15 000 760 050
AvC Thiel Sappi Southern Africa 138 000 6 992 460
M van Hoven Sappi North America, Inc 107 000 5 421 690
SALE OF SHARES
Date of transaction : 22 November 2024
Nature of transaction : Sale of shares (on market) to settle tax
liability arising from vesting of conditional
share awards as listed above
Volume weighted average selling : R48.99 (high R51.03; low R48.00)
price per share
Class of security : Ordinary shares
Extent of interest : Direct beneficial
NAME COMPANY NUMBER OF VALUE
SHARES SOLD (R)
SR Binnie Sappi Limited 117 740 5,768,518
D Daniel Sappi Papier Holding 25 000 1,224,843
M Eikelenboom Sappi Papier Holding 72 450 3,549,594
B Köehldorfer Sappi Papier Holding 6 975 341,731
L Kruyshaar Sappi North America, Inc 30 679 1,503,078
A Mahendranath Sappi Limited (Group Company Secretary) 8 496 416,250
S Manchester Sappi North America, Inc (Company Secretary) 18 600 911,283
FCS Marupen Sappi North America, Inc 43 378 2,125,249
PG Moodley Sappi Southern Africa 40 000 1,959,748
J Pässler Sappi Papier Holding 40 000 1,959,748
GT Pearce Sappi Limited 54 278 2,659,280
B Riegler Sappi Papier Holding 6 975 341,731
AvC Thiel Sappi Southern Africa 65 133 3,191,107
M van Hoven Sappi North America, Inc 70 000 3,429,559
22 November 2024
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 25-11-2024 07:05:00
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