You are on page 1of 8
November 1 2009 HOW THEY MAKE IT HOW THEY SPEND IT MEET THE REAL TYCOONS
November 1 2009
HOW THEY MAKE IT
HOW THEY SPEND IT
MEET THE REAL TYCOONS OF SOUTH AFRICA
Worth: R16.95bn
Worth: R14.25bn
Worth: R5.36bn
Paid: R411.60m
Paid: R50.38m
Paid: R49.52m
LAKSHMI MITTAL
The steel
baron’s wealth
has dropped
more than half
PATRICE MOTSEPE
Lost some value
but still the
richest South
African
NICKY
OPPENHEIMER
Only his shares
in Anglo are
counted
CHIP GOODYEAR
Share gains
boost an already
huge salary
BRETT LEVY
Huge benefits
for a small
player
STEPHEN KOSEFF
Basic salary less
but performance
bonus huge
In a year the top 10 richest in SA lost
R56.1-BILLION

FULL RICH LIST P2, FULL EARNINGS LIST P4

HOW THEY MAKE IT

2

RICHRICH

 

THE RICHEST

 
 

Director & company

%

Investment

 

Director & company

%

Investment

 

Director & company

%

Investment

 

holding

total (R-m)

 

holding

total (R-m)

 

holding

total (R-m)

1

Lakshmi Mittal

R16 950

48

Willie Marais

R311

98

Simon Susman

R144

ArcelorMittal SA

52.02%

R16 950

Omnia Holdings

13.22%

R311

Woolworths Holdings

1.58%

R144

2

Patrice Motsepe Sanlam African Rainbow Minerals

 

R14 246

49

Alec Wapnick

R304

99

Hymie Levin

R138

5.75%

R2 093

Premium Properties

10.53%

R151

Netcare

0.77%

R87

41.46%

R12 153

Octodec Investments

12.50%

R154

Advtech

2.50%

R37

3

Nicky Oppenheimer Anglo American plc

 

R5 359

50

Gordon Schachat African Bank Investments

 

R302

Famous Brands

1.06%

R15

2.50%

R5 359

1.49%

R302

100

Ian Kantor

R137

4

Christo Wiese

R5 053

51

Hans Enderle City Lodge Hotels

 

R292

Investec plc

0.35%

R59

Shoprite Holdings

15.15%

R4 166

10.61%

R292

Investec Ltd

0.75%

R78

PSG Group

8.05%

R217

52

Roland Sassoon

R285

101

Shaun Rai

R132

Invicta Holdings

33.15%

R502

Sasfin Holdings

44.14%

R285

Ambit Properties

6.60%

R132

Tradehold

61.19%

R168

53

Robert Nisbet

R273

102

Thys Visser British American Tobacco plc

 

R131

5

Ackerman Family Pick n Pay Holdings

 

R3 267

MTN Group

0.14%

R273

0.03%

R131

49.33%

R3 267

54

Stephen Koseff

R272

103

Perikles Halamandaris (jnr) Famous Brands

 

R130

6

Elephant Consortium

R3 214

Investec plc

1.15%

R198

9.48%

R130

Telkom

5.85%

R3 214

Investec

0.71%

R74

104

Glynn Burger

R124

7

Rembrandt Trust Remgro (holding in B shares)

 

R3 116

55

Michael (Motty) Sacks Netcare Advtech Afrocentric

 

R254

Investec plc

0.49%

R83

0.00%

R3 116

2.09%

R238

Investec Ltd

0.39%

R40

8

Desmond Sacco

R2 886

0.10%

R1

105

John Robertson

R120

Assore

23.79%

R2 886

2.10%

R14

Discovery Holdings

0.81%

R120

9

Stephen Saad

R2 422

56

Meyer Kahn

R250

106

Jebb McIntosh Combined Motor Holdings

 

R120

Aspen Pharmacare

14.71%

R2 422

SABMiller plc

0.11%

R236

23.73%

R120

10

Laurie Dippenaar

R1 956

Afrocentric

2.10%

R14

107

Herman Mashaba

R119

FirstRand

0.06%

R90

57

Whitey Basson

R249

Growthpoint Properties

0.62%

R119

RMB Holdings

7.49%

R1 866

Shoprite Holdings

0.91%

R249

108

Adam Fleming Witwatersrand Cons Gold

 

R119

11

GT Ferreira

R1 796

58

Pat Goss

R247

9.50%

R119

RMB Holdings

7.21%

R1 796

FirstRand

0.00%

R4

109

Christopher Seabrooke Massmart Holdings Datatec Metrofile Holdings Set Point Technology

 

R115

12

Bruno Steinhoff

R1 629

RMB Holdings

0.96%

R239

0.30%

R42

Steinhoff International

11.79%

R1 629

AVI

0.07%

R4

0.40%

R10

13

Bill Venter

R1 518

59

Bernard Kantor Investec plc Investec Ltd Phumelela Gaming & Leisure

 

R242

5.43%

R17

Altech

0.02%

R1

0.01%

R2

19.65%

R46

Altron

56.14%

R1 516

1.98%

R206

110

Chris Kruger Africa Cellular Towers

 

R114

14

Adrian Gore

R1 405

4.52%

R34

34.23%

R114

Discovery Holdings

9.47%

R1 405

60

Claas Daun

R241

111

Arnold Goldstone

R114

15

Giovanni Ravazzotti

R1 346

Steinhoff International

0.03%

R4

Invicta Holdings

7.50%

R114

Italtile

32.13%

R877

Kap International

39.98%

R238

112

Thami Sokutu African Bank Investments

 

R113

Ceramic Industries

33.03%

R469

61

Ragi Moonsamy

R236

0.56%

R113

16

Tokyo Sexwale

R1 162

Growthpoint Properties

0.43%

R82

113

Gregory Lotis

R111

Mvelaphanda Resources

13.24%

R825

Mvelaphanda Resources

2.46%

R154

Metmar

15.30%

R111

Mvelaphanda Group

16.90%

R337

62

William Battershill

R234

114

Piet Boshoff

R111

17

Cyril Ramaphosa SABMiller plc Standard Bank Group Bidvest Group Assore

 

R988

BSI Steel

44.66%

R234

Metmar

15.30%

R111

0.00%

R1

63

Riaan Swart Blue Financial Services

 

R233

115

Glen Forsdyke

R111

0.29%

R366

16.62%

R233

Metmar

15.30%

R111

0.46%

R135

64

Dave Van Niekerk Blue Financial Services

 

R233

116

David Ellwood

R111

4.01%

R487

16.62%

R233

Metmar

15.30%

R111

18

Giuseppe Zannoni

R949

65

Nkululeko Sowazi Exxaro Resources Emira Property Fund

 

R229

117

Dennis Polak

R109

Italtile

22.69%

R619

0.61%

R151

Foschini

1.03%

R109

Ceramic Industries

23.17%

R329

1.59%

R78

118

Nick Vlok

R107

19

Gus Attridge

R821

66

Alwyn Martin

R224

Digicore Holdings

15.73%

R107

Aspen Pharmacare

4.99%

R821

Petmin

28.92%

R224

119

Steve Pacak

R106

20

Koos Bekker

R750

67

Gary Morolo

R222

Naspers -N

0.16%

R106

Naspers -N

1.16%

R750

Datacentrix Holdings

39.54%

R222

120

John Halamandres

R103

21

Barry Swartzberg

R730

68

Mikki Xayiya

R218

Famous Brands

7.51%

R103

Discovery Holdings

4.92%

R730

Mvelaphanda Resources

2.21%

R137

121

Nigel Townshend

R103

22

Royal Bafokeng Consortium Merafe Resources Metair Investments

 

R674

Mvelaphanda Group

4.04%

R81

TWP Holdings

24.46%

R103

29.28%

R504

69

Kevin James Country Bird Holdings

 

R217

122

Steven Joffe Gold Reef Resorts

 

R103

24.85%

R170

57.98%

R217

2.07%

R103

23

Jannie Mouton

R673

70

Herschel Mayers

R212

123

Brian Buckham

R102

Steinhoff International

0.26%

R35

Discovery Holdings

1.43%

R212

Advtech

6.95%

R102

PSG Group

23.66%

R638

71

Edwin de la Harpe Hertzog Remgro Medi-Clinic Corporation Distell Group

 

R212

124

Antoinette Sedibe Keaton Energy Holdings

 

R101

24

Paul Harris

R666

0.46%

R137

6.89%

R101

FirstRand

0.05%

R35

0.57%

R73

125

Gavan Ryan Coronation Fund Managers Metair Investments

 

R101

Remgro

0.04%

R11

0.02%

R2

3.68%

R57

RMB Holdings

2.49%

R620

72

Msolisi Diliza

R209

6.47%

R44

25

Michael Lewis

R666

Growthpoint Properties

1.09%

R209

126

Moss Ngoasheng

R100

Foschini

6.30%

R666

73

Herbert Theledi Blue Label Telecoms

 

R207

Kelly Group

30.77%

R100

26

Maxim Krok Aspen Pharmacare Gold Reef Resorts

 

R655

5.87%

R207

127

Graham Mackay

R100

2.34%

R385

74

Alan Burke

R205

SABMiller plc

0.04%

R100

5.45%

R270

ARB Holdings

51.39%

R205

128

Leslie Maasdorp

R97

27

Phuthuma Nhleko

R637

75

Jeffery Wapnick

R205

Pangbourne Properties

1.59%

R97

MTN Group

0.32%

R637

Premium Properties

6.46%

R92

129

Tony Scharrighuisen

R97

28

Markus Jooste

R605

Octodec Investments

9.18%

R113

Argent Industrial

11.41%

R97

Steinhoff International

2.28%

R315

76

Maldwyn Zimmerman Combined Motor Holdings

 

R204

130

Elliot Salkow

R96

PSG Group

10.39%

R280

40.43%

R204

Ellies Holdings

37.18%

R96

Phumelela

1.28%

R10

77

Reginald Sherrell

R204

131

David Samuels

R96

29

Sipho Nkosi

R558

Invicta Holdings

13.49%

R204

Invicta Holdings

6.34%

R96

Sanlam

0.01%

R3

78

Sifiso Dabengwa

R204

132

Paul Theodosiou Acucap Properties Sycom Property Fund

 

R95

Exxaro Resources

2.26%

R555

MTN Group

0.10%

R204

2.29%

R93

30

Lazarus Zim

R538

79

Sharon Wapnick

R195

0.06%

R2 R2

Sanlam

0.01%

R3

Premium Properties

6.19%

R89

133

Ronald Price

R94

Northam Platinum

1.25%

R116

Octodec Investments

8.71%

R107

Eureka Industiral

41.10%

R94

Mvelaphanda Resources

6.74%

R420

80

Dalikhaya Zihlangu

R195

134

Mamphela Ramphele

R93

31

Johnny Copelyn

R529

Exxaro Resources

0.79%

R195

Medi-Clinic Corporation

0.73%

R93

HCI

10.33%

R529

81

Michael Wylie Wilson Bayly Holmes - Ovcon

 

R195

135

Grant Pattison

R93

32

Mark Willcox

R493

3.46%

R195

Massmart Holdings

0.66%

R93

Mvelaphanda Resources

6.62%

R412

82

Sean Melnick

R193

136

Horst Sass

R90

Mvelaphanda Group

4.04%

R81

Peregrine Holdings

14.69%

R193

Bowler Metcalf

21.49%

R90

33

Koos Raubenheimer

R450

83

Jens Montanana

R182

137

Martin Moritz

R90

Raubex Group

13.69%

R450

Datatec

7.04%

R182

Comair

10.37%

R90

34

Michiel le Roux Capitec Bank Holdings Zeder Investments

 

R424

84

Robert Gumede Gijima AST Group

 

R181

138

Fred Robertson

R87

15.78%

R424

34.07%

R181

Remgro

0.00%

R0

0.04%

R0

85

Michael Mark

R178

Brimstone

11.62%

R87

35

Phoevos Pououlis Keaton Energy Holdings

 

R421

Truworths International

1.22%

R178

139

Barry Stuhler Pangbourne Properties Capital Property Fund

 

R86

28.68%

R421

86

Brian Holmes Wilson Bayly Holmes - Ovcon

 

R174

0.60%

R36

36

Brett Levy Blue Label Telecoms

 

R413

3.10%

R174

1.42%

R50

11.73%

R413

87

Ivan Clark

R168

140

Hugh Herman Growthpoint Properties Investec plc Investec Ltd Pick n Pay Holdings

 

R85

37

Leon Kirkinis African Bank Investments

 

R410

Grindrod

2.58%

R168

0.00%

R1

2.02%

R410

88

Panagiotis Halamandaris

R167

0.31%

R53

38

Saki Macozoma Standard Bank Group

 

R392

Famous Brands

12.22%

R167

0.28%

R30

0.31%

R392

89

Pat Goldrick

R165

0.02%

R2

39

Zweli Mntambo

R383

Cashbuild

9.42%

R165

141

Louis Stassen Coronation Fund Managers

 

R85

Exxaro Resources

1.56%

R383

90

Wolf Cesman Redefine Income Fund Apexhi Properties Madison Prop. Fund Managers

 

R163

5.52%

R85

40

Mark Levy Blue Label Telecoms

 

R379

0.03%

R2

142

Yolanda Cuba Steinhoff International Holdings Mvelaphanda Group

 

R85

10.76%

R379

0.02%

R2

0.59%

R82

41

Freddie Kenney

R371

12.04%

R159

0.16%

R3

Raubex Group

11.29%

R371

91

Lionel Jacobs

R159

143

Akhter Deshmukh Sea Kay Holdings

 

R85

42

Marcel Golding

R363

Bidvest Group

0.54%

R159

24.42%

R85

HCI

7.08%

R363

92

Marc Wainer Redefine Income Fund Madison Prop. Fund Managers

 

R157

144

Graeme Gordon Liberty International plc

 

R82

43

Peter Malungani Investec Ltd Phumelela Gaming & Leisure Super Group

 

R360

0.02%

R1

0.42%

R82

2.88%

R300

11.81%

R156

145

Mustaq Brey Nedbank Group Brimstone Investment Corp.

 

R82

4.54%

R34

93

Terry Moolman Caxton & CTP Pub. & Printers

 

R157

0.00%

R0

7.39%

R25

2.64%

R157

11.25%

R81

44

Des de Beer Pangbourne Properties Resilient Property Income Fund Capital Property Fund

 

R351

94

Neil Jowell

R156

146

Riaan Stassen Capitec Bank Holdings

 

R81

0.06%

R4

Trencor

0.03%

R1

2.94%

R81

5.64%

R325

Mobile Industries

12.64%

R155

147

Yogesh Narsing

R80

0.65%

R23

95

Jeff Zidel Resilient Property Income Fund

 

R154

Pangbourne Properties

1.32%

R80

45

Gino Stefanutti Stefanutti & Bressan

 

R326

2.68%

R154

148

Jonathan Hlongwane Vukile Property Fund Esor

 

R79

25.72%

R326

96

Cecil Jowell

R153

1.84%

R50

46

Steven Gottschalk

R324

Trencor

0.03%

R1

4.32%

R29

Value Group

55.60%

R324

Mobile Industries

12.41%

R152

149

David Lewis Resilient Property Income Fund

 

R78

47

Brian Joffe

R312

97

Theofanis Halamandaris

R145

1.35%

R78

Bidvest Group

1.02%

R302

Famous Brands

10.59%

R145

150

Brian Bruce Murray & Roberts

 

R77

Afrocentric

1.51%

R10

 

Figures in this table have been rounded off

 

0.57%

R77

November 1 2009

November 1 2009

METHODOLOGY

Counting the many pennies

Data is checked, and checked again

HOW IT WAS ALL FIGURED OUT Directors’ holdings for the Rich List reflect wealth at March 31 2009. The earnings table reflects what was earned in 2008.

THE RESEARCH WAS DONE AS FOLLOWS:

An initial extraction of the remuneration and options, headline earnings and di- rector and family holdings was made by Who Owns Whom research staff. The information was reviewed from the pub- lished documents by Who Owns Whom management and compared with the ex- traction. The information was again re- searched from the published documents and compared with the management re- sult by the Who Owns Whom executive directors. Each director’s holding was sent to the relevant company secretary for corroboration.

PLEASE NOTE:

ý The calendar years 2007 and 2008 were

researched from hard copy and Internet

documents published in terms of the Com- panies Act and JSE listing requirements;

ý Shareholdings were extracted as pub-

lished in public documents and public share registers;

ý Shareholdings included those held via

trusts, where this was deemed appro-

priate;

ý The market price as at March 31 2009

was used for the valuation of holdings;

ý It was assumed that the conditions of

conditional options would be met;

ý Options issued under more than one

scheme or over a period were added where this was deemed appropriate;

ý Gains on options exercised in the year

under review were included in remuner- ation;

ý Earnings and directors’ fees paid to

other companies were excluded;

ý Severance packages and retention

bonuses were included in remuneration;

ý Conversion rates to the rand were as

follows: British pound 14.3, US dollar 7.5, euro 11.3.

NOTES REGARDING THE RESEARCH:

ý MTN Directors

The Alpine Trust and Newshelf 664 were unwound in December 2008 as per their six-year mandate and the shares distribut- ed to directors and staff in accordance with the mandate after settlement of debt, primarily to the PIC. In terms of previous valuations of director entitlements we were not privy to the funding arrange- ments and qualified those holdings as

follows: “It should be noted that the fund- ing arrangements for these holdings have not been disclosed, which could offset against the value of the holdings.” The valuation of directors’ holdings in the current study have not been confirmed by the company and were calculated based on SENS announcements on the trans- action issued by the company.

ý Patrice Motsepe

Motsepe’s holding in African Rainbow Minerals is via African Rainbow Minerals Exploration Investments (Pty) Ltd, but the shareholding of this private company is not disclosed.

African Rainbow Minerals Exploration Investments (Pty) Ltd, but the shareholding of this private company is not

HOW THEY SPEND IT

LISTLIST

HOW THEY MAKE IT

November 1 2009

HOW THEY MAKE IT November 1 2009 RICH RICH HOW THEY SPEND IT LIST LIST 3

RICHRICH

HOW THEY SPEND IT

LISTLIST

3

BOSSES RAKE IN MILLIONS IN BONUSES REGARDLESS OF HOW WELL THEY DO

Tricks of the trade

CEOs look after No 1

MARCIA KLEIN

M EMBERS of remuner-

ation committees have

a lot to answer for.

This year’s Rich List,

which tracks not only SA’s rich- est people, but also the country’s biggest earners, shows that exec- utives are pocketing all sorts of additional bonuses and making mega-profits on unacceptably generous share options. This is in addition to huge basic salaries and performance bonus- es, with bonuses still being earned by many despite the non- performance of their companies. The innovative ways and

of some kind, all earned more than executives of major com- panies like FirstRand’s outgoing CEO Paul Harris, Bidvest CEO Brian Joffe and Anglo American CEO Cynthia Carroll. Retention bonuses and re- straints of trade also featured on this year’s earnings list. Telkom CEO Reuben September earned R19-million, including a R13-mil- lion restraint-of-trade payment. Kgomotso Mosehla, a former executive of Mvelaphanda Re- sources, earned R15.8-million during the year, which included a R12-million long-term retention bonus and a R2.5-million termi- nation benefit — meaning he was

means to add to executives’ pots increases with every year. The list also shows executives get special payments when com- panies dispose of assets or list. In 2008 Chip Goodyear, the for- mer boss of BHP Billiton, earned a staggering R411.6-million, with R380-million pocketed from gains on shares. The top of the top- earners list is dominated by ex- ecutives of offshore-listed com- panies, including Richemont’s Norbert Platt, and British Amer- ican Tobacco’s Paul Adams. Investec’s Stephen Koseff is ranked fifth in the earnings table with R49.5-million pay in 2008, and MD Bernard Kantor, who ranked sixth, earned similarly. But alongside the top inter- national earners are a few glaring anomalies. Brett Levy, the joint CEO of pre-paid telecoms company Blue Label Telecoms, was the fourth- highest earner on the list, pock- eting over R50-million in 2008. This includes R40-million paid in lieu of a pre-listing contractual bonus entitlement, which was then used to buy shares. This is over and above an exceptionally generous R5.9-million salary for a company of that size, and a per- formance bonus of R3.4-million. Having got the shares from the pre-listing payment, and the many more he owns, Levy is now SA’s 36th richest person, with R413-million of Blue Label stock. Blue Label’s other joint CEO, Brett’s brother Mark Levy, was ranked seventh in the earnings table, raking in R49.5-million, the bulk of it coming from the same scheme. His wealth is R379-mil- lion, ranking him 40th. Prakash Desai, the CEO of Avusa, the owner of this pub- lication, earned a massive R29.3- million in 2008, including a R10.7- million top-up payment on the sale of M-Net SuperSport and un- bundling of Naspers and other assets, and over R13-million gain on the sale of shares. The Levys, Grindrod’s Tim Mc- Clure (earnings: R39.8-million), Rainbow Chicken’s Miles Dally (R39.7-million) and Desai, all of whom received special payments

paid both to stay and to go away in the same year. Termination benefits signifi- cantly boosted a number of salaries. Mondi paid Paul Holling- worth almost R19.5-million to go, while Sasol paid Trevor Munday R16-million. In fact, of SA’s 100 biggest earners of 2008, close to 20 are no longer working at the com- panies who felt the need to pay them so handsomely to retain their services. Executives earn performance bonuses in good and bad times. The best example is Larry Lip- schitz, the former CEO of Super Group, who earned R10.9-million including a R5-million perfor- mance bonus in what was one of the company’s worst years ever. He finally left it struggling for survival. While he was still being paid performance bonuses, in- vestors lost most of their money. The earnings list, (available in detail on Page 4), reflects re- search into the top executives and directors of all of SA’s listed com- panies. The Rich List, (on Page 2), is a comprehensive report on SA’s richest people whose wealth is a matter of public information. The economic crisis has been a blow to the fortunes of SA’s wealthiest, almost without excep- tion. Lakshmi Mittal, although not a South African, remains at the top through his holding in ArcelorMittal SA. At this time last year, this holding was worth R45.7-billion. This year it is worth R16.95-billion, but he retains his position. This is just a fraction of what he is worth through his other international holdings. Patrice Motsepe, the richest South African and the second- ranked person in the SA Rich List, was worth R22-billion last year, and is now worth R14.25-billion. He has, however, made some re- covery as his wealth was R9.7- billion in mid-November, at the peak of the economic crisis. Between March and November last year, SA’s 10 richest people lost a total of R61.5-billion. Their wealth was R114.6-billion last March. By mid-November their wealth plunged to R54.1-billion. The Rich List published today

wealth was R114.6-billion last March. By mid-November their wealth plunged to R54.1-billion. The Rich List published
plunged to R54.1-billion. The Rich List published today LAKSHMI MITTAL shows that there has been only

LAKSHMI MITTAL

shows that there has been only a slight recovery between then and March this year, the cut-off date for the research, as their col- lective wealth inched up to

R58.5-billion.

Among the wealthiest, Nicky Oppenheimer follows Motsepe at number three, with wealth of R5.4-billion, down from R16-bil- lion last year. This only includes his holding in Anglo American;

last year. This only includes his holding in Anglo American; PATRICE MOTSEPE the family’s wealth is

PATRICE MOTSEPE

the family’s wealth is largely held in De Beers. Christo Wiese, ranked fourth, is one of the few in the top ranks whose wealth increased, from R4.3-billion to just over R5-billion, largely due to strong performers Shoprite and PSG Group. The Ackerman family’s Pick n Pay interest was static at R3.3- billion. The Elephant Consor- tium, ranked sixth, whose invest-

The Elephant Consor- tium, ranked sixth, whose invest- CHIP GOODYEAR ment in Telkom is valued at

CHIP GOODYEAR

ment in Telkom is valued at R3.2-billion, and Royal Bafokeng Holdings, ranked 22nd, are not individuals but are still included on the list. Rembrandt Trust, essentially the Rupert family, slips from fourth to seventh, although the value, at R3.1-billion, is un- changed. The Ruperts and Op- penheimers were once the richest in the country by far.

INSIGNIA ADVERTISING 5964/E/ST
INSIGNIA ADVERTISING 5964/E/ST
INSIGNIA ADVERTISING 5964/E/ST Without Equal, Within Reach Aston Martin Sandton. Sandton Isle, Cnr. Rivonia Rd. and
INSIGNIA ADVERTISING 5964/E/ST Without Equal, Within Reach Aston Martin Sandton. Sandton Isle, Cnr. Rivonia Rd. and

Without Equal, Within Reach

Aston Martin Sandton. Sandton Isle, Cnr. Rivonia Rd. and Linden Rd., Sandown, 2146. Tel: (011) 301 7100 Shaun: 082 905 2399 Nicolas: 082 497 3299

Aston Martin Cape Town. The V & A Waterfront, Cnr. Dock Rd. & Breakwater Boulevard, Cape Town, 8002. Tel: (021) 425 2007 Andrew: 082 905 5520

WWW.ASTONMARTIN.CO.ZA

(021) 425 2007 Andrew: 082 905 5520 WWW.ASTONMARTIN.CO.ZA Escape to a world of Power, Beauty and

Escape to a world of Power, Beauty and Soul. With trade-in assistance of R150 000 and limited offers on 2009 specification 4.7 V8 Vantage’s, owning the most exclusive car on the planet is now within reach.

 

THE BIG EARNERS

 
 

HEPS

Termin-

Perfor-

Gains

Fees/

 

HEPS

Termin-

Perfor-

Gains

Fees/

 

Name & company

increase

/decrease

Designation

Salary

(R'000)

Total

benefits

(R'000)

ation

benefit

Other

benefits

(R'000)

mance

bonus

(R'000)

on

shares

(R'000)

levy

pay

(R'000)

Total

2007

(R'000)

Total

2008

(R'000)

%salary

increase

from2007

Name & company

increase

/decrease

Designation

Salary

(R'000)

Total

benefits

(R'000)

ation

benefit

Other

benefits

(R'000)

mance

bonus

(R'000)

on

shares

levy

pay

Total

2007

(R'000)

Total

2008

(R'000)

%salary

increase

from2007

 

2007/2008

(R'000)

2007/2008

(R'000)

(R'000)

(R'000)

1

Chip Goodyear BHP Billiton plc

 

6

666

3

200

14

095

6

999

380

639

29

746

411

598

48 David Hathorn

13

854

431

– –

3

321

34

415

17

606

20.0%

Former CEO

6

666

3

200

14

095

6

999 29

380

639 –

746

411

598

1283.7%

Mondi plc

-48.6%

CEO

13

854

431

– –

3

321

34

415

17

606

-48.8%

2

Norbert Platt Compagnie Financière Richemont

 

51

966

739

– –

– –

52

705

49 Sean Flanagan

Murray and Roberts Holdings

 

2

259

525

– –

3

000

11

343

49

4

700

17

176

18.4%

CEO

51

966

739

– –

– –

52

705

69.2%

Exec

2

259

525

– –

3

000

11

343

49

4

700

17

176

265.4%

3

Paul Adams British American Tobacco plc

 

20

273

1

503

29

398

– –

31

210

51

174

50 Mark Cutifani

9

513

1 501

 

– –

5

877

18

458

16

891

11.0%

CEO

20

273

1

503

29

398

– –

31

210

51

174

64.0%

Anglogold Ashanti

96.1%

CEO

9

513

1

501

5

877

18

458

16

891

-8.5%

4

Brett Levy Blue Label Telecoms

 

6

764

260

40

000

3

360

– –

15

910

50

384

51 Michael Mark

3

712

1 007

 

1 10

– 545

400

13

572

16

664

97.9%

Joint CEO

6

764

260

40

000

3

360

– –

15

910

50

384

216.7%

Truworths International

18.9%

CEO

3

712

1 007

1 400

– 545

10

13

572

16

664

22.8%

5

Stephen Koseff

4

629

1

055

41

106

470 449

2

264

52

49

524

52 Whitey Basson

13

158

3

482

– –

12

638

16

640

Bidvest Group

10.1%

Non-exec

– –

– 70

54

70

29.6%

Shoprite Holdings

53.7%

CEO & MD

13

158

3

482

– –

12

638

16

640

31.7%

Investec Ltd

-3.3%

CEO

– 787

– –

1

392

787

-43.5%

53 Dennis Gammie

1

845

405

– –

2

446

11

943

16

276

16

639

Investec plc

-3.3%

CEO

4

629

1

055

41

470

1 –

477

50

871

48

631

-4.4%

Aveng

72.2%

Exec Financial

1

845

405

– –

2

446

11

943

16

276

16

639

2.2%

JSE

56.4%

Former Non-exec

36

133

36

-72.9%

54 Peter Surgey

2

280

9

390

– –

2

132

2

805

9

812

16

607

6

Bernard Kantor Investec plc Phumelela Gaming & Leisure

 

5

294

539

41

470

2 78

140

51

923

49

522

Barloworld

-48.0%

Exec

2

280

9

390

– –

2

132

2

805

9

812

16

607

69.3%

-3.3%

Exec MD

5

294

539

41

470

2

140

51

851

49

444

-4.6%

55 Alain Perrin

16

350

– –

– –

 

16

350

-22.0%