NOTES TO THE ANNUAL FINANCIAL STATEMENTS � NOTE 30

30. 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 2015                              
  Executive directors                              
  BM Levy — 7 073 6 917 132 14 122 — — — — — 14 122   7 189    
  MS Levy — 7 083 6 917 122 14 122 — — — — — 14 122   7 189    
  M Pamensky — 5 962 3 402 112 9 476 — — — — — 9 476   6 061    
  DA Suntup — 3 694 2 137 122 5 953 — — — — — 5 953   3 349    
    — 23 812 19 373 488 43 673 — — — — — 43 673   23 788    
  Non-executive directors                              
  LM Nestadt 984 — — — 984 — — — — — 984        
  K Ellerine 286 — — — 286 — — — — — 286        
  G Harlow 593 — — — 593 473 — — — — 1 066        
  NN Lazarus* 373 — — — 373 — — — — 7 524 7 897        
  J Mthimunye 498 — — — 498 21 — — — — 519        
  JS Vilakazi 341 — — — 341 — — — — — 341        
    3 075 — — — 3 075 494 — — — 7 524 11 093        
    3 075 23 812 19 373 488 46 748 494 — — — 7 524 54 766   23 788    
 

* NN Lazarus resigned with effect from 27 January 2015.

    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           — — — — — 843   —    
  LM Nestadt 843 — — — 843 — — — — — 264   —    
  K Ellerine 264 — — — 264 460 — — — — 1 000   —    
  G Harlow 540 — — — 540 — — — — 10 874 11 397   —    
  NN Lazarus* 523 — — — 523 — — — — — 373   —    
  J Mthimunye 373 — — — 373 — — — — — 309   —    
  JS Vilakazi 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.

The fair value of forfeitable shares per Director has been included.

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

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

    Issue date Issue price
R		 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 2015                    
  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    
  BM Levy 3 September 2014 8.9 31 August 2017 — 283 339 — — 283 339    
          1 076 864 283 339 — (470 507) 889 696    
  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    
  MS Levy 3 September 2014 8.9 31 August 2017 — 283 339 — — 283 339    
          1 076 864 283 339 — (470 507) 889 696    
  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    
  MV Pamensky 3 September 2014 8.9 31 August 2017 — 238 872 — — 238 872    
          907 863 238 872 — (396 667) 750 068    
  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    
  DA Suntup 3 September 2014 8.9 31 August 2017 — 150 067 — — 150 067    
          469 508 150 067 — (205 139) 414 436    

    Issue
date		 Issue
price
R		 Vesting
date		 Awards
outstanding
as at the
beginning
of the year		 Number
of shares
awarded		 Awards
forfeited
during
the yea		 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    

NOTES TO THE ANNUAL FINANCIAL STATEMENTS � NOTE 30