NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 29

29. DIRECTORS’ AND PRESCRIBED OFFICER’S EMOLUMENTS
      Blue Label
Services
as
directors
of
Blue Label
Telecoms
Limited
R’000		   Salary and
allowances
R’000		   Bonuses
and
performance-related
payments
R’000		   Other
benefits
R’000		   Subtotal
R’000		   Services as
directors
of
subsidiaries
of
Blue Label
Telecoms
Limited
R’000		   Salary and
allowances
from
subsidiaries
R’000		   Bonuses
and
performance-related
payments
from
subsidiaries
R’000		   Retirement
and
related
benefits
from
subsidiaries
R’000		   Corporate
finance
and legal
fees for
services
rendered
to
Blue Label
Telecoms
Group
R’000		   Total
R’000		   Fair value
of
forfeitable
shares
R’000		  
  For the year ended 31 May 2014                                                  
  Executive directors                                                  
  BM Levy   —   6 677   —   120 6 797   —   —   —   —   —   6 797   10 069  
  MS Levy   —   6 686   —   111 6 797   —   —   —   —   —   6 797   10 069  
  M Pamensky   —   5 637   —   94 5 731   —   —   —   —   —   5 731   8 489  
  DB Rivkind*   —   1 455   —   27 1 482   —   —   —   —   —   1 482   4 390  
  DA Suntup   —   1 530   —   58   1 588   —   —   —   —   —   1 588   4 390  
    —   21 985   —   410   22 395   —   —   —   —   —   22 395   37 407  
  Non-executive directors                                                  
  LM Nestadt   843   —   —   — 843   —   —   —   —   —   843   —  
  K Ellerine   264   —   —   — 264   —   —   —   —   —   264   —  
  G Harlow   540   —   —   — 540   460   —   —   —   —   1 000   —  
  NN Lazarus   523   —   —   — 523   —   —   —   —   10 874   11 397   —  
  J Mthimunye   373   —   —   — 373   —   —   —   —   —   373   —  
  JS Vilakazi   309   —   —   —   309   —   —   —   —   —   309   —  
    2 852   —   —   —   2 852   460   —   —   —   10 874   14 186   —  
  Prescribed officer                                                  
  DA Suntup*   —   1 428   —   54   1 482   —   —   —   —   —   1 482   —  
    —   1 428   —   54   1 482   —   —   —   —   —   1 482   —  
    2 852   23 413   —   464   26 729   460   —   —   —   10 874   38 063   37 407  
  * DB Rivkind resigned with effect from 14 November 2013. DA Suntup was appointed a director on 14 November 2013.

      Blue Label
Services
as
directors
of
Blue Label
Telecoms
Limited
R’000		   Salary and
allowances
R’000		   Bonuses
and
performance-related
payments
R’000		   Other
benefits
R’000		   Subtotal
R’000		   Services as
directors
of
subsidiaries
of
Blue Label
Telecoms
Limited
R’000		   Salary and
allowances
from
subsidiaries
R’000		   Bonuses
and
performance-related
payments
from
subsidiaries
R’000		   Retirement
and
related
benefits
from
subsidiaries
R’000		   Corporate
finance
and legal
fees for
services
rendered
to
Blue Label
Telecoms
Group
R’000		   Total
R’000		   Fair value
of
forfeitable
shares
R’000		  
  For the year ended 31 May 2013                                                  
  Executive directors                                                  
  BM Levy   —   6 303   7 695   109   14 107   —   —   —   —   —   14 107   9 353  
  MS Levy   —   6 312   7 695   100   14 107   —   —   —   —   —   14 107   9 353  
  M Pamensky   —   5 335   3 784   71   9 190   —   —   —   —   —   9 190   7 885  
  DB Rivkind   —   2 753   1 957   42   4 752   —   —   —   —   —   4 752   4 078  
      —   20 703   21 131   322   42 156   —   —   —   —   —   42 156   30 670  
  Non-executive directors                                                  
  LM Nestadt   795   —   —   —   795   —   —   —   —   —   795   —  
  K Ellerine   194   —   —   —   194   —   —   —   —   —   194   —  
  G Harlow   473   —   —   —   473   113   —   —   —   —   586   —  
  NN Lazarus   421   —   —   —   421   —   —   —   —   9 785   10 205   —  
  J Mthimunye   385   —   —   —   385   —   —   —   —   —   385   —  
  JS Vilakazi   231   —   —   —   231   —   —   —   —   —   231   —  
      2 499   —   —   —   2 499   113   —   —   —   9 785   12 396   —  
  Prescribed officer                                                  
  DA Suntup   —   2 694   1 957   101   4 752   —   —   —   —   —   4 752   4 078  
      —   2 694   1 957   101   4 752   —   —   —   —   —   4 752   4 078  
      2 499   23 397   23 088   423   49 407   113   —   —   —   9 785   59 304   34 748  
  The fair value of forfeitable shares per director has been included.

No director has a notice period of more than one year.

No directors’ service contract includes predetermined compensation as a result of termination that would exceed one year’s salary and benefits.

      Issue date Issue price Vesting date Awards
outstanding
as at the
beginning
of the year		 Number
of shares
awarded		 Awards
forfeited
during
the year		 Awards
vested
during
the year		 Balance
as at
the end
of the year
  Forfeitable share scheme per director and prescribed officer                  
  For the year ended 31 May 2014                  
  BM Levy   1 September 2010 4.7 31 August 2013 450 486 — (16 910) (433 576) —
  BM Levy   1 October 2011 4.5 31 August 2014 470 507 — — — 470 507
  BM Levy   3 September 2012 6.71 31 August 2015 334 474 — — — 334 474
  BM Levy   2 September 2013 8.75 31 August 2016 — 271 883 — — 271 883
            1 255 467 271 883 (16 910) (433 576) 1 076 864
  MS Levy   1 September 2010 4.7 31 August 2013 450 486 — (16 910) (433 576) —
  MS Levy   1 October 2011 4.5 31 August 2014 470 507 — — — 470 507
  MS Levy   3 September 2012 6.71 31 August 2015 334 474 — — — 334 474
  MS Levy   2 September 2013 8.75 31 August 2016 — 271 883 — — 271 883
            1 255 467 271 883 (16 910) (433 576) 1 076 864
  MV Pamensky   1 September 2010 4.7 31 August 2013 379 787 — (14 256) (365 531) —
  MV Pamensky   1 October 2011 4.5 31 August 2014 396 667 — — — 396 667
  MV Pamensky   3 September 2012 6.71 31 August 2015 281 982 — — — 281 982
  MV Pamensky   2 September 2013 8.75 31 August 2016 — 229 214 — — 229 214
            1 058 436 229 214 (14 256) (365 531) 907 863
  DB Rivkind   1 September 2010 4.7 31 August 2013 196 409 — (7 372) (189 037) —
  DB Rivkind   1 October 2011 4.5 31 August 2014 205 139 — — — 205 139
  DB Rivkind   3 September 2012 6.71 31 August 2015 145 829 — — — 145 829
  DB Rivkind   2 September 2013 8.75 31 August 2016 — 118 540 — — 118 540
            547 377 118 540 (7 372) (189 037) 469 508
  DA Suntup   1 September 2010 4.7 31 August 2013 196 409 — (7 372) (189 037) —
  DA Suntup   1 October 2011 4.5 31 August 2014 205 139 — — — 205 139
  DA Suntup   3 September 2012 6.71 31 August 2015 145 829 — — — 145 829
  DA Suntup   2 September 2013 8.75 31 August 2016 — 118 540 — — 118 540
            547 377 118 540 (7 372) (189 037) 469 508

      Issue date Issue price Vesting date Awards
outstanding
as at the
beginning
of the year
 Number
of shares
awarded
 Awards
forfeited
during
the year
 Awards
vested
during
the year
 Balance
as at
the end
of the year
  Forfeitable share scheme per director and prescribed officer                  
  For the year ended 31 May 2013                  
  BM Levy   27 November 2009 5.85 1 September 2012 343 060 — (39 006) (304 054) —
  BM Levy   1 September 2010 4.7 31 August 2013 450 486 — — — 450 486
  BM Levy   1 October 2011 4.5 31 August 2014 470 507 — — — 470 507
  BM Levy   3 September 2012 6.71 31 August 2015 — 334 474 — — 334 474
            1 264 053 334 474 (39 006) (304 054) 1 255 467
  MS Levy   27 November 2009 5.85 1 September 2012 343 060 — (39 006) (304 054) —
  MS Levy   1 September 2010 4.7 31 August 2013 450 486 — — — 450 486
  MS Levy   1 October 2011 4.5 31 August 2014 470 507 — — — 470 507
  MS Levy   3 September 2012 6.71 31 August 2015 — 334 474 — — 334 474
            1 264 053 334 474 (39 006) (304 054) 1 255 467
  MV Pamensky   27 November 2009 5.85 1 September 2012 250 148 — (28 442) (221 706) —
  MV Pamensky   1 September 2010 4.7 31 August 2013 379 787 — — — 379 787
  MV Pamensky   1 October 2011 4.5 31 August 2014 396 667 — — — 396 667
  MV Pamensky   3 September 2012 6.71 31 August 2015 — 281 982 — — 281 982
            1 026 602 281 982 (28 442) (221 706) 1 058 436
  DB Rivkind   27 November 2009 5.85 1 September 2012 149 572 — (17 007) (132 565) —
  DB Rivkind   1 September 2010 4.7 31 August 2013 196 409 — — — 196 409
  DB Rivkind   1 October 2011 4.5 31 August 2014 205 139 — — — 205 139
  DB Rivkind   3 September 2012 6.71 31 August 2015 — 145 829 — — 145 829
            551 120 145 829 (17 007) (132 565) 547 377
  DA Suntup   27 November 2009 5.85 1 September 2012 149 572 — (17 007) (132 565) —
  DA Suntup   1 September 2010 4.7 31 August 2013 196 409 — — — 196 409
  DA Suntup   1 October 2011 4.5 31 August 2014 205 139 — — — 205 139
  DA Suntup   3 September 2012 6.71 31 August 2015 — 145 829 — — 145 829
            551 120 145 829 (17 007) (132 565) 547 377

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 29