Blue Label Telecoms Integrated Annual Report 2016

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BLUE LABEL INTEGRATED ANNUAL REPORT 2016
DIRECTORS’ REPORT continued
Before declaring the final dividend the Board applied the solvency and liquidity test on the Company and reasonably
concluded that the Company will satisfy the solvency and liquidity test immediately after payment of the final dividend.
The final dividend will be paid 26 days after the Directors have performed the solvency and liquidity testing.
Dividend tax is provided for at 15% of the amount of any dividend paid by Blue Label Telecoms, subject to certain
exemptions. The dividend tax is a tax borne by the beneficial owner of the dividend and will be withheld by either the issuer
of the dividend or by regulated intermediaries.
Directorate
The following are the details of the Company’s Directors:
Name Office Appointment date Date and nature of change
Larry M Nestadt Independent Non-Executive Director 5 October 2007 —
Brett M Levy Joint Chief Executive Officer 1 February 2007 —
Mark S Levy Joint Chief Executive Officer 1 February 2007 —
Kevin M Ellerine Non-Executive Director 8 December 2009 —
Gary D Harlow Independent Non-Executive Director 5 October 2007 —
Yusuf Mahomed Independent Non-Executive Director 18 August 2015 —
Joe S Mthimunye Independent Non-Executive Director 5 October 2007 —
Mark V Pamensky Chief Operating Officer 5 October 2007 Resigned 30 November 2015
Dean A Suntup Financial Director 14 November 2013 —
Jeremiah S Vilakazi Independent Non-Executive Director 19 October 2011 —
Directors’ interests
The individual interests declared by Directors in the Company’s share capital as at 31 May 2016, held directly or indirectly,
were as follows:
Nature of interest
Direct beneficial Indirect beneficial
Director/officer 2016 2015 2016 2015
BM Levy 62 883 164 62 548 690 21 272 778 21 272 778
MS Levy 55 475 756 55 141 282 21 272 777 21 272 777
KM Ellerine — — 266 667 266 667
GD Harlow — — 2 414 815 2 414 815
Y Mahomed — — 12 500 —
JS Mthimunye 30 000 30 000 5 000 —
LM Nestadt — — 8 204 674 8 204 674
MV Pamensky — — — 5 565 738
DA Suntup 540 005 394 176 3 877 778 3 877 778
JS Vilakazi — — — —
The aggregate interest of the current Directors in the capital of the Company was as follows:
Number of shares
Director/officer 2016 2015
Beneficial 176 255 914 180 989 375
The beneficial interest held by Directors and officers of the Company constitutes 26.46% (2015: 27.20%) of the issued share
capital of the Company.
Details of Directors’ emoluments and equity compensation benefits are set out in note 5.3 of the Group annual financial
statements and details of the forfeitable share plan are set out in note 5.2.