5. Employees
5.3 Directors� emoluments
 
Blue Label
Services as
Directors of
Blue Label
Telecoms
Limited
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
R’000		 Restraint
of trade
payments
from
subsidiaries
R’000		 Other
benefits
from
subsidiaries
R’000		 Total
R’000		 Fair
value of
forfeitable
shares
R’000
For the year ended 31 May 2021
Executive Directors
BM Levy – – – – 9 509 9 733 3 338 224 22 804 17 839
MS Levy – – – – 9 526 9 733 3 338 207 22 804 17 839
DA Suntup – – – – 4 931 3 608 – 224 8 763 9 448
– – – – 23 966 23 074 6 676 655 54 371 45 126
Non-Executive Directors
LM Nestadt 2 067 – 2 067 – – – – – 2 067 –
K Ellerine 640 250 890 – – – – – 890 –
G Harlow 1 191 250 1 441 449 – – – – 1 890 –
J Mthimunye 1 073 250 1 323 56 – – – – 1 379 –
JS Vilakazi 792 250 1 042 – – – – – 1 042 –
L Zim 256 – 256 – – – – – 256 –
N Mnxasana 462 – 462 – – – – – 462 –
6 481 1 000 7 481 505 – – – – 7 986 –
6 481 1 000 7 481 505 23 966 23 074 6 676 655 62 357 45 126
For the year ended 31 May 2020
Executive Directors
BM Levy – – – – 9 522 – 3 338 211 13 071 6 379
MS Levy – – – – 9 538 – 3 338 195 13 071 6 379
DA Suntup – – – – 4 948 – – 207 5 155 3 378
– – – – 24 008 – 6 676 613 31 297 16 136
Non-Executive Directors
LM Nestadt 2 067 – 2 067 – – – – – 2 067 –
K Ellerine 640 – 640 – – – – – 640 –
G Harlow 1 191 250 1 441 520 – – – – 1 961 –
J Mthimunye 1 073 250 1 323 65 – – – – 1 388 –
JS Vilakazi 792 – 792 – – – – – 792 –
5 763 500 6 263 585 – – – – 6 848 –
5 763 500 6 263 585 24 008 – 6 676 613 38 145 16 136
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 
For the year ended 31 May 2021
BM Levy  1 September 2017  18.49 31 August 2020  163 970 – (109 319) (54 651) –
BM Levy  1 September 2018  7.16 31 August 2021  448 843 – – – 448 843
BM Levy  18 November 2019  2.55 31 August 2022  1 908 425 – – – 1 908 425
BM Levy  1 September 2020 3.20 31 August 2023  – 1 520 776 – – 1 520 776
   2 521 238 1 520 776 (109 319) (54 651) 3 878 044
MS Levy  1 September 2017  18.49 31 August 2020  163 970 – (109 319) (54 651) –
MS Levy  1 September 2018  7.16 31 August 2021  448 843 – – – 448 843
MS Levy  18 November 2019  2.55 31 August 2022  1 908 425 – – – 1 908 425
MS Levy  1 September 2020 3.20 31 August 2023  – 1 520 776 – – 1 520 776
   2 521 238 1 520 776 (109 319) (54 651) 3 878 044
DA Suntup  1 September 2017  18.49 31 August 2020  86 845 – (57 900) (28 945) –
DA Suntup  1 September 2018  7.16 31 August 2021  237 725 – – – 237 725
DA Suntup  18 November 2019  2.55 31 August 2022  1 010 776 – – – 1 010 776
DA Suntup  1 September 2020 3.20 31 August 2023  – 805 462 – – 805 462
   1 335 346 805 462 (57 900) (28 945) 2 053 963
Forfeitable share scheme per Director                        
For the year ended 31 May 2020                         
BM Levy  18 October 2016  20.75 18 November 2019  137 194 – (91 467) (45 727) –
BM Levy  1 September 2017  18.49 31 August 2020  163 970 – – – 163 970
BM Levy  1 September 2018  7.16 31 August 2021  448 843 – – – 448 843
BM Levy  18 November 2019  2.55 31 August 2022  – 1 908 425 – – 1 908 425
            750 007 1 908 425 (91 467) (45 727) 2 521 238
MS Levy  18 October 2016  20.75 18 November 2019  137 194 – (91 467) (45 727) –
MS Levy  1 September 2017  18.49 31 August 2020  163 970 – – – 163 970
MS Levy  1 September 2018  7.16 31 August 2021  448 843 – – – 448 843
MS Levy  18 November 2019  2.55 31 August 2022  – 1 908 425 – – 1 908 425
            750 007 1 908 425 (91 467) (45 727) 2 521 238
DA Suntup  18 October 2016  20.75 18 November 2019  72 663 – (48 444) (24 219) –
DA Suntup  1 September 2017  18.49 31 August 2020  86 845 – – – 86 845
DA Suntup  1 September 2018  7.16 31 August 2021  237 725 – – – 237 725
DA Suntup  18 November 2019  2.55 31 August 2022  – 1 010 776 – – 1 010 776
            397 233 1 010 776 (48 444) (24 219) 1 335 346