Notes to the consolidated annual financial statements l Note 34

34. Directors’ remuneration and interests
  Directors’ remuneration

The group remuneration philosophy and basis for determining performance bonuses is set out in the remuneration report in the integrated report. Other benefits determined below include share purchase trust loans, expatriate benefits, retention payments, redundancy and termination payments and any other non-pensionable allowances or fringe benefits.

The directors’ and prescribed officers’ remuneration for the year ended 30 September 2015 was as follows:

      Salary
R000		 Retirement
and
medical
contri-
butions
R000		 Car
benefit
R000		 Other
benefits
R000		   Guaranteed
package
R000		 Bonus
R000		   Total
2015
R000		  
2015                        
Executive directors                        
Residents                        
PJ Bulterman     5 100 822 251 47   6 220 3 294   9 514  
M Laubscher (retired 4 February 2015)*     2 425 584 108 1 540   4 657 1 954   6 611  
CB Thomson     7 988 1 496 266 50   9 800 5 081   14 881  
DG Wilson     4 111 965 246 27   5 349 2 364   7 713  
DM Sewela**     3 860 628 268 1 711   6 467 2 251   8 718  
Non-resident                        
PJ Blackbeard     6 452 856 217 5   7 530 3 268   10 798  
Total executive directors       29 936   5 351   1 356   3 380     40 023   18 212     58 235  
Prescribed officers                        
Resident                        
PK Rankin     3 396 639 134 65     4 234   3 366     7 600  
Non-resident                        
V Salzmann     3 980   165     4 145 3 361   7 506  
Total prescribed officers       7 376   639   299   65     8 379   6 727     15 106  
Grand total     37 312 5 990 1 655 3 445   48 402 24 939   73 341  

      Fees
R000 		  Total
2015
R000 		 
Non-executive directors          
Residents          
NP Dongwana     446     446  
SS Mkhabela   482   482  
B Ngonyama   484   484  
SS Ntsaluba   605   605  
DB Ntsebeza   1 905   1 905  
IO Shongwe   446   446  
Non-residents FNO Edozien     1 103     1 103  
AGK Hamilton   1 936   1 936  
A Landia   1 206   1 206  
SB Pfeiffer   1 586   1 586  
Total non-executive directors   10 199   10 199  
Total directors’ and prescribed officers’ remuneration       83 540  

* Included in other benefits is a retirement payment in terms of an existing scheme.
** Included in other benefits is a once-off retention payment granted in terms of a 2012 programme.

Salary
R000		 Retirement
and
medical
contri-
butions
R000		 Car
benefit
R000		 Other
benefits
R000		   Guaranteed
package
R000		 Bonus
R000		   Total
2014
R000		  
2014                    
Executive directors                    
Residents                    
PJ Bulterman 4 801 772 231 78   5 882 3 241   9 123  
M Laubscher 5 480 1 210 256 82   7 028 5 585   12 613  
OI Shongwe (resigned                    
31 May 2014) 2 108 378 152 295   2 933     2 933  
CB Thomson 7 592 1 362 266 48   9 268 6 359   15 627  
DG Wilson 3 864 896 246 25   5 031 2 767   7 798  
DM Sewela (appointed                    
19 March 2014) 3 525 579 240 54   4 398 2 652   7 050  
Non-resident                    
PJ Blackbeard 5 937 772 195 4   6 908 2 490   9 398  
Total executive directors 33 307 5 969 1 586 586   41 448 23 094   64 542  
Prescribed officers                    
Non-resident                    
V Salzmann 4 162   172     4 334 1 337   5 671  
Total prescribed officers 4 162   172     4 334 1 337   5 671  
Grand total 37 469 5 969 1 758 586   45 782 24 431   70 213  

  Fees
R000		 Total
2014
R000		  
Non-executive directors      
Residents      
NP Dongwana   407   407  
SS Mkhabela 446 446  
B Ngonyama 447 447  
SS Ntsaluba 560 560  
DB Ntsebeza 1 822 1 822  
TH Nyasulu (retired 29 April 2014) 137 137  
IO Shongwe (appointed 1 June 2014) 106 106  
Non-residents      
FNO Edozien (appointed 19 March 2014)   480   480  
AGK Hamilton 1 800 1 800  
A Landia (appointed 1 October 2013) 1 012 1 012  
SB Pfeiffer 1 474 1 474  
Total non-executive directors 8 691 8 691  
Total directors’ and prescribed officers’ remuneration   78 904  

  Salary
R000		 Retirement
and
medical
contri-
butions
R000		 Car
benefit
R000		 Other
benefits
R000		   Guaranteed
package
R000		 Bonus
R000		   Bonus
R000
2013                  
Executive directors                  
Residents                  
PJ Bulterman 4 329 704 231 56     5 320   4 664     9 984
M Laubscher 5 077 1 105 249 68   6 499 6 067   12 566
OI Shongwe 2 923 528 228 23   3 702 3 292   6 994
CB Thomson 6 973 1 242 266 46   8 527 9 589   18 116
DG Wilson 3 511 794 246 24   4 575 3 961   8 536
Non-resident                  
PJ Blackbeard 4 558 594 154 230   5 536 4 071   9 607
Total executive directors   27 371   4 967   1 374   447     34 159   31 644     65 803
Prescribed officers                  
Residents                  
DM Sewela 3 120 521 240 68     3 949   3 705     7 654
IG Stevens (retired                  
31 August 2013) 1 936 330 262 1 232   3 760 2 290   6 050
Non-resident                  
V Salzmann 2 939 157 141 615   3 852 2 921   6 773
Total prescribed officers   7 995   1 008   643   1 915     11 561   8 916     20 477
Grand total 35 366 5 975 2 017 2 362   45 720 40 560   86 280

  Fees
R000		 Fees for
services to
subsidiaries
R000		 Total
2013
R000		  
Non-executive directors        
Residents        
NP Dongwana   286     286  
SS Mkhabela 414   414  
B Ngonyama 380   380  
SS Ntsaluba 519   519  
DB Ntsebeza 1 798   1 798  
TH Nyasulu 320   320  
Non-residents        
AGK Hamilton   1 452     1 452  
SB Pfeiffer 1 189   1 189  
G Rodriguez de Castro Garcia de los Rios (retired 23 January 2013) 326 888 1 214  
Total non-executive directors 6 684 888 7 572  
Total directors’ and prescribed officers’ remuneration     93 852  

Interest of directors and prescribed officers of the company in share capital

The aggregate beneficial holdings as at 30 September 2015 of the directors and prescribed officers of the company and their immediate families (none of which has a holding in excess of 1%) in the issued ordinary shares of the company are detailed below. There have been no material changes in these shareholdings since that date.

                Number of shares at 30 September      
                             
      2015
Forfeit-
able 		  2015
Direct 		  2015
Indirect 		    2014
Forfeit-
able 		  2014
Direct 		  2014
Indirect 		  2013
Forfeit-
able 		  2013
Direct 		  2013
Indirect
Executive directors                            
PJ Blackbeard     84 090 132 060         75 740   114 167       126 733   38 334  
PJ Bulterman     84 090 87 420       75 740 76 877     126 733 29 617  
M Laubscher               93 270 41 667 105 124   163 873 41 667 45 441
DM Sewela     77 510         59 410       38 850    
CB Thomson     162 540 353 011 103     150 170 331 044 103   311 033 196 671 103
DG Wilson     84 090 129 193       75 740 118 650     126 733 42 817  
Total executive directors       492 320   701 684   103       530 070   682 405   105 227     893 955   349 106   45 544
Non-executive directors                            
AGK Hamilton       1 850           1 850         1 850  
S Mkhabela       37 430         37 430       37 430  
HT Nyasulu                 650       650  
DB Ntsebeza       41 960         41 960       41 960  
SB Pfeiffer       10 000         10 000       10 000  
OI Shongwe     6 314 80 486 570     39 070 68 350 570   102 103 26 817 570
Total non-executive directors       6 314   171 726   570       39 070   160 240   570     102 103   118 707   570
Prescribed officers
                           
PK Rankin       42 420                      
V Salzmann         8 634         10 000   4 380       14 280   100  
Total prescribed officers       42 420   8 634         10 000   4 380       14 280   100  
Grand total     541 054 882 044 673     579 140 847 025 105 797   1 010 338 467 913 46 114

Interest of directors and prescribed officers of the company in share options, share appreciation rights and forfeitable shares

The interests of the executive directors and prescribed officers in shares of the company provided in the form of options, share appreciation rights and forfeitable shares are shown in the table below:

  Award
date		 Number
allocated
in prior
years		 Number
allocated
in current
year		 Number
exercised
(options
and SAR)/
vested (FSP)
in current
year		 Closing
number		 Exercise
price		 Price on
exercise
date
(options
and
SAR)/
vesting
price (FSP)		 Exercise or
exercisable
(options
and SAR)/
vesting
date (FSP)
Executive directors                
PJ Blackbeard                
Share appreciation rights                
  2009 28 032   28 032   51.04 92.39 10 Feb 15
  2011 37 000     37 000 70.83   27 Feb 14
  2012 35 000     35 000 96.48   29 Mar 15
  2013 43 840     43 840 90.73   18 Mar 16
  2014 35 060     35 060 106.82   17 Mar 17
  2015   50 340   50 340 90.77   29 Mar 18
FSP – no performance conditions                
  2012 5 750   5 750   n/a 90.34 29 Mar 15
  2013 6 910     6 910 n/a   18 Mar 16
  2014 6 210     6 210 n/a   17 Mar 17
  2015   7 900   7 900 n/a   29 Mar 18
FSP – with performance conditions                
  2012 17 500   17 500   n/a 90.34 29 Mar 15
  2013 20 740     20 740 n/a   18 Mar 16
  2014 18 630     18 630 n/a   17 Mar 17
  2015   23 700   23 700 n/a   29 Mar 18
PJ Bulterman                
Share appreciation rights                
  2009 84 090   84 090   51.04 85.52 31 Aug 15
  2011 24 667     24 667 70.83   27 Feb 15
  2012 35 000     35 000 96.48   29 Mar 15
  2013 43 840     43 840 90.73   18 Mar 16
  2014 35 060     35 060 106.82   17 Mar 17
  2015   50 340   50 340 90.77   29 Mar 18
FSP – no performance conditions                
  2012 5 750   5 750   n/a 90.34 29 Mar 15
  2013 6 910     6 910 n/a   18 Mar 16
  2014 6 210     6 210 n/a   17 Mar 17
  2015   7 900   7 900 n/a   29 Mar 18
FSP – with performance conditions                
  2012 17 500   17 500   n/a 90.34 29 Mar 15
  2013 20 740     20 740 n/a   18 Mar 16
  2014 18 630     18 630 n/a   17 Mar 17
  2015   23 700   23 700 n/a   29 Mar 18
DM Sewela^                
Share appreciation rights                
  2009 14 544   14 544   51.04 85.20 1 Sep 15
  2011 47 270   31 512 15 758 70.83 98.00 22 May 15
  2012 19 590     19 590 96.48   29 Mar 15
  2013 31 510     31 510 90.73   18 Mar 16
  2014 35 060     35 060 106.82   17 Mar 17
  2015   50 340   50 340 90.77   29 Mar 18
FSP – no performance conditions                
  2012 3 500   3 500   n/a 90.34 29 Mar 15
  2013 5 270     5 270 n/a   18 Mar 16
  2014 6 210     6 210 n/a   17 Mar 17
  2015   7 900   7 900 n/a   29 Mar 18
FSP – with performance conditions                
  2012 10 000   10 000   n/a 90.34 29 Mar 15
  2013 15 800     15 800 n/a   18 Mar 16
  2014 18 630     18 630 n/a   17 Mar 17
  2015   23 700   23 700 n/a   29 Mar 18
^DM Sewela’s forfeitable shares are cash-settled.                
CB Thomson                
Share appreciation rights                
  2009 199 560   199 560   51.04 103.10 22 May 15
  2011 85 000     85 000 70.83   27 Feb 14
  2012 72 000     72 000 96.48   29 Mar 15
  2013 80 440     80 440 90.73   18 Mar 16
  2014 67 010     67 010 106.82   17 Mar 17
  2015   96 950   96 950 90.77   29 Mar 18
FSP – no performance conditions                
  2012 12 000   12 000   n/a 90.34 29 Mar 15
  2013 13 550     13 550 n/a   18 Mar 16
  2014 11 870     11 870 n/a   17 Mar 17
  2015   15 220   15 220 n/a   29 Mar 18
FSP – with performance conditions                
  2012              
  2013 36 500   36 500   n/a 90.34 29 Mar 15
  2014 40 650     40 650 n/a   18 Mar 16
  2015 35 600     35 600 n/a   17 Mar 17
      45 650   45 650 n/a   29 Mar 18
DG Wilson                
Share appreciation rights                
  2009 32 510   32 510   51.04 103.10 22 May 15
  2009 12 500   12 500   51.04 94.05 20 Jul 15
  2009 20 000   20 000   51.04 84.00 15 Sep 15
  2011 37 000     37 000 70.83   27 Feb 14
  2012 35 000     35 000 96.48   29 Mar 15
  2013 43 840     43 840 90.73   18 Mar 16
  2014 35 060     35 060 106.82   17 Mar 17
  2015   50 340   50 340 90.77   29 Mar 18
FSP – no performance conditions                
                 
  2012 5 750   5 750   n/a 90.34 29 Mar 15
  2013 6 910     6 910 n/a   18 Mar 16
  2014 6 210     6 210 n/a   17 Mar 17
  2015   7 900   7 900 n/a   29 Mar 18
FSP – with performance conditions                
  2012 17 500   17 500   n/a 90.34 29 Mar 15
  2013 20 740     20 740 n/a   18 Mar 16
  2014 18 630     18 630 n/a   17 Mar 17
  2015   23 700   23 700 n/a   29 Mar 18
Prescribed officers                
PK Rankin                
Share appreciation rights                
  2009 26 927     26 927 51.04   23 Nov 15
  2011 28 940     28 940 70.83   27 Feb 14
  2012 24 710     24 710 96.48   29 Mar 15
  2013 39 260     39 260 90.73   18 Mar 16
  2014 33 210     33 210 106.82   17 Mar 17
  2015   39 220     90.77   29 Mar 18
FSP – no performance conditions                
  2012 5 750   5 750   n/a 90.34 29 Mar 15
  2013 14 830     14 830 n/a   18 Mar 16
  2014 2 960     2 960 n/a   17 Mar 17
  2015   6 160   6 160 n/a   29 Mar 18
FSP – with performance conditions                
  2015   18 470   18 470 n/a   29 Mar 18
V Salzmann                
Share appreciation rights                
  2009 43 630   43 630   51.04 85.20 15 Sep 15
FSP – no performance conditions                
  2012 2 500   2 500   n/a 90.34 29 Mar 15
FSP – with performance conditions                
  2012 7 500   7 500   n/a 90.34 29 Mar 15
Non-executive director                
OI Shongwe                
Share appreciation rights                
  2009 23 308     23 308 51.04   23 Nov 15
  2011 30 000     30 000 70.83   27 Feb 14
  2012 26 000     26 000 96.48   29 Mar 15
  2013 31 510     31 510 90.73   18 Mar 16
FSP – no performance conditions                
  2012 4 500   4 500   n/a 100.75 31 May 14
  2013 5 270   5 270   n/a 100.75 31 May 14
FSP – with performance conditions                
                 
  2012 13 500   13 500   n/a 89.15 4 Feb 15
  2013 15 800   9 486* 6 314 n/a   18 Mar 16
The value at commencement date of the SAR rights awarded on 30 March 2015 was R26.59 per share.

The value at commencement date of the forfeitable shares awarded on 30 March 2015 was R90.50 per share.
  * Shares forfeited

Notes to the consolidated annual financial statements l Note 34