Notes to the Group financial statements l Note 10.2

10.2 Emoluments, equity compensation and dealings in ordinary shares
 

Directors’ emoluments and related payments

2015 Date
appointed		   Salaries
R000		 Post-
employ-
ment
benefits
R000		 Other
benefits*
R000		 Compen-
sation
for loss
of office
R000±		 Sub-total
R000		 Share
gains**
R000		 Total
R000		  
Executive directors                    
RS Dabengwa^ 1/10/2001   8 426 1 080 2 882 23 664 36 052 4 529 40 581  
BD Goschen 22/07/2013   7 567 970 292 – 8 829 427 9 256  
PF Nhleko^^ 9/11/2015   5 000 – – – 5 000 – 5 000  
Total     20 993 2 050 3 174 23 664 49 881 4 956 54 837  
* Includes medical aid and unemployment insurance fund.
** Pre-tax gains on share-based payments.
^ Resigned 9/11/2015.
^^ Fees paid to Captrust Investments Proprietary Limited.
± Compensation for loss of office comprises notice pay and a restraint of trade.

  Date
appointed		   Retainer#
R000		 Attendance#
R000		 Special
board
R000		 Strategy
session
R000		 Ad hoc
work
R000		 Total
R000		  
Non-executive directors                  
PF Nhleko^ 28/05/2013     1 976   1 021   60   371   57   3 485  
KC Ramon@ 1/06/2014   322 661 52 154 96 1 285  
KP Kalyan 13/06/2006   343 602 40 154 8 1 147  
AT Mikati*† 18/07/2006   1 181 1 126 181 241 384 3 113  
MJN Njeke 13/06/2006   331 442 56 106 20 955  
JHN Strydom 11/03/2004   309 585 60 154 41 1 149  
AF van Biljon 1/11/2002   212 480 60 154 73 979  
J van Rooyen 18/07/2006   369 827 60 106 108 1 470  
MLD Marole 1/01/2010   332 681 60 154 8 1 235  
NP Mageza 1/01/2010   403 743 40 106 20 1 312  
A Harper* 1/01/2010   1 215 1 358 181 241 104 3 099  
F Titi± 1/07/2012   260 397 52 154 – 863  
S Kheradpir ^^^^* 8/07/2015   425 675 26 239 – 1 365  
Total     7 678 9 598 928 2 334 919 21 457  
* Fees have been paid in euro.
† Fees are paid to M1 Limited.
^^^^ Appointed 8/07/2015.
± Resigned 31/12/2015
# Retainer and attendance fees include fees for board and committee representation and meetings.
@ Fees paid to Anglogold Ashanti Limited.
^ Fourth quarter fees paid to Captrust Investments Proprietary Limited.

2014 Date
appointed		 Salaries
R000		 Post-
employ-
ment
benefits
R000		 Other
benefits*
R000		 Bonuses
R000		 Sub-total
R000		 Share
gains**
R000		 Total
R000		  
Executive directors                  
RS Dabengwa   1/10/2001   9 334   1 197   858   13 257   24 646   3 482   28 128  
BD Goschen 22/07/2013 5 567 714 286 6 777 13 344 – 13 344  
Total   14 901 1 911 1 144 20 034 37 990 3 482 41 472  
* Includes medical aid and unemployment insurance fund.
** Pre-tax gains on share-based payments.

  Date
appointed		 Retainer#
R000		 Attendance#
R000		 Special
projects
R000		 Strategy
session
R000		 Ad hoc
work
R000		 Total
R000		  
Non-executive directors                
PF Nhleko 28/05/2013 1 084 608 92 183 – 1 967  
KC Ramon^ 1/06/2014 123 187 – 96 21 427  
KP Kalyan 13/06/2006 332 487 97 96 – 1 012  
AT Mikati*† 18/07/2006 1 163 707 111 219 97 2 297  
MJN Njeke 13/06/2006 311 388 20 96 – 815  
JHN Strydom 11/03/2004 299 459 20 96 42 916  
AF van Biljon 1/11/2002 312 401 68 96 63 940  
J van Rooyen 18/07/2006 364 533 90 96 21 1 104  
MLD Marole 1/01/2010 310 775 21 96 – 1 202  
NP Mageza 1/01/2010 361 566 42 96 20 1 085  
A Harper* 1/01/2010 1 177 852 – 219 – 2 248  
F Titi 1/07/2012 253 352 – 48 – 653  
Total   6 089 6 315 561 1 437 264 14 666  
* Fees have been paid in euro
† Fees are paid to M1 Limited.
# Retainer and attendance fees include fees for board and committee representation and meetings.
^ Fourth quarter fees paid to Anglogold Ashanti Limited

Prescribed officers’ emoluments and related payments

2015 Salaries
R000		 Post-
employ-
ment
benefits
R000		 Other
benefits
R000		 Compen-
sation
for loss
of office
R000		 Bonuses
R000		 Sub-total
R000		 Share
gains
R000		 Total
R000		  
Prescribed officers                  
JA Desai   9 490   949   2 586   –   –   13 025   295   13 320  
PD Norman 4 473 573 60 – – 5 106 1 465 6 571  
A Farroukh1 5 444 544 555 – – 6 543 2 208 8 751  
SA Fakie2 331 44 1 209 – – 1 584 755 2 339  
KW Pienaar3 4 831 619 10 965 – – 16 415 982 17 397  
P Verkade4 1 021 102 21 – – 1 144 345 1 489  
Z Bulbulia5 3 691 473 785 13 254@ 1 475 19 678 621 20 299  
M Ikpoki5 6 603 754 2 274 17 260# – 26 891 – 26 891  
MD Fleischer 5 044 647 123 – – 5 814 – 5 814  
M Nyati 3 644 467 3 326 – 634 8 071 – 8 071  
H Singh6 508 65 129 – – 702 – 702  
S Sooklal7 4 006 514 88 – – 4 608 – 4 608  
A Fernandez8 5 503 550 88 – – 6 141 – 6 141  
Total 54 589 6 301 22 209 30 514 2 109 115 722 6 671 122 393  
1 Resigned on 31/07/2015.
2 Retired on 16/02/2015.
3 Retired on 31/12/2015.
4 Contract ended on 31/03/2015.
5 Mutual separation on 31/12/2015.
6 Appointed on 1/11/2015.
7 Appointed on 1/02/2015.
8 Appointed on 1/04/2015.
@ Compensation for loss of office comprises severance, restraint of trade and gratuity pay.
# Severance, leave and lifestyle benefits.

2014 Salaries
R000		 Post-
employ-
ment
benefits
R000		 Other
benefits
R000		 Bonuses
R000		 Sub-total
R000		 Share
gains
R000		 Total
R000		  
Prescribed officers                
JA Desai 7 865 786 2 230 9 217 20 098 1 460 21 558  
PD Norman 4 233 543 256 3 634 8 666 1 179 9 845  
A Farroukh 7 747 775 942 6 573 16 037 1 440 17 477  
SA Fakie 3 161 412 402 2 991 6 966 911 7 877  
KW Pienaar 4 570 586 363 5 309 10 828 1 018 11 846  
P Verkade 4 144 414 1 067 3 515 9 140 – 9 140  
Z Bulbulia 3 527 452 286 858 5 123 598 5 721  
M Ikpoki 6 505 586 1 896 4 440 13 427 – 13 427  
M Fleischer^ 4 433 568 40 4 271 9 312 – 9 312  
M Nyati^^ 871 112 18 837 1 838 – 1 838  
Total 47 056 5 234 7 500 41 645 101 435 6 606 108 041  
^ Appointed 1/02/2014.
^^ Appointed 1/10/2014.

Equity compensation benefits for executive directors and directors of major subsidiaries in respect of the share appreciation rights and share rights schemes

Offer date Strike
price
R		 Vesting
date		 Number
out-
standing
at
31 December
2014		   Exercised
2015		   Exercise
date		 Exercise
price
R		 Number
out-
standing
at
31 December
2015		  
RS Dabengwa*                    
31/05/2006 56,83 30/11/2008 13 920     –     –   –   13 920  
31/05/2006 56,83 30/11/2009 26 440   –   – – 26 440  
31/05/2006 56,83 30/11/2010 40 440   –   – – 40 440  
21/11/2006 71,00 21/11/2008 8 680   –   – – 8 680  
21/11/2006 71,00 21/11/2009 8 680   –   – – 8 680  
21/11/2006 71,00 21/11/2010 13 020   –   – – 13 020  
21/11/2006 71,00 21/11/2011 13 020   –   – – 13 020  
19/03/2008 126,99 19/03/2010 14 440   –   – – 14 440  
19/03/2008 126,99 19/03/2011 14 440   –   – – 14 440  
19/03/2008 126,99 19/03/2012 21 660   –   – – 21 660  
19/03/2008 126,99 19/03/2013 21 660   –   – – 21 660  
Total     196 400   –   – – 196 400  
* Resigned 9/11/2015.                    
BD Goschen                    
19/03/2008 126,99 19/03/2010 12 260     –     –   –   12 260  
19/03/2008 126,99 19/03/2011 12 260   –   – – 12 260  
19/03/2008 126,99 19/03/2012 18 390   –   – – 18 390  
19/03/2008 126,99 19/03/2013 18 390   –   – – 18 390  
Total     61 300   –   – – 61 300  
F Moolman                    
19/03/2008 126,99 19/03/2010 10 200     –     –   –   10 200  
19/03/2008 126,99 19/03/2011 10 200   –   – – 10 200  
19/03/2008 126,99 19/03/2012 15 300   –   – – 15 300  
19/03/2008 126,99 19/03/2013 15 300   –   – – 15 300  
Total     51 000   –   – – 51 000  

Equity compensation benefits for executive directors, prescribed officers, Company secretary of the MTN Group and directors of major subsidiaries in respect of the performance share plan

Offer date Vesting
date		 Number
out-
standing
at
31 December
2014		 Exercised Forfeited Exercise
date		 Exercise
price
R		 Number
out-
standing
at
31 December
2015		  
RS Dabengwa*                
29/12/2011 29/12/2014 111 600 (21 985) (89 615) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 94 600 – (94 600) – – –  
20/12/2013 19/12/2016 87 800 – (87 800) – – –  
19/12/2014 18/12/2017 83 100 – (83 100) – – –  
Total   377 100 (21 985) (355 115) – – –  
* Resigned 9/11/2015.                
BD Goschen                
29/12/2011 29/12/2014 22 300 (4 393) (17 907) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 26 500 – – – – 26 500  
20/12/2013 19/12/2016 43 700 – – – – 43 700  
19/12/2014 18/12/2017 54 700 – – – – 54 700  
Total   147 200 (4 393) (17 907) – – 124 900  
PD Norman                
29/12/2011 29/12/2014 36 100 (7 112) (28 988) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 30 600 – – – – 30 600  
20/12/2013 19/12/2016 28 400 – – – – 28 400  
19/12/2014 18/12/2017 27 000 – – – – 27 000  
Total   122 100 (7 112) (28 988) – – 86 000  
Z Bulbulia^                
29/12/2011 29/12/2014 15 300 (3 014) (12 286) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 15 500 – – – – 15 500  
20/12/2013 19/12/2016 24 500 – (7 914) – – 16 586  
19/12/2014 18/12/2017 22 200 – (14 544) – – 7 656  
Total   77 500 (3 014) (34 744) – – 39 742  
^ Mutual separation on 31/12/2015.                
KW Pienaar#                
29/12/2011 29/12/2014 24 200 (4 767) (19 433) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 33 000 – – – – 33 000  
20/12/2013 19/12/2016 30 600 – (9 884) – – 20 716  
19/12/2014 18/12/2017 29 100 – (19 064) – – 10 036  
Total   116 900 (4 767) (48 381) – – 63 752  
# Retired on 31/12/2015.                
M Nyati                
19/12/2014 18/12/2017 21 900 – – – – 21 900  
Total   21 900 – – – – 21 900  
JA Desai                
29/12/2011 29/12/2014 43 600 (8 589) (35 011) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 41 400 – – – – 41 400  
20/12/2013 19/12/2016 44 400 – – – – 44 400  
19/12/2014 18/12/2017 44 500 – – – – 44 500  
Total   173 900 (8 589) (35 011) – – 130 300  
M Ikpoki*                
20/12/2013 19/12/2016 36 900 – (14 619) – – 22 281  
19/12/2014 18/12/2017 37 400 – (24 502) – – 12 898  
Total   74 300 – (39 121) – – 35 179  
* Mutual separation on 31/12/2015.                
A Farroukh^                
29/12/2011 29/12/2014 42 900 (8 451) (34 449) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 40 800 – (40 800) – – –  
20/12/2013 19/12/2016 43 800 – (43 800) – – –  
19/12/2014 18/12/2017 43 900 – (43 900) – – –  
Total   171 400 (8 451) (162 949) – – –  
^ Resigned on 31/07/2015.                
M Fleischer                
19/12/2014 18/12/2017 30 400 – – – – 30 400  
Total   30 400 – – – – 30 400  
F Moolman                
29/12/2011 29/12/2014 15 200 (2 994) (12 206) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 14 600 – – – – 14 600  
20/12/2013 19/12/2016 15 700 – – – – 15 700  
19/12/2014 18/12/2017 15 700 – – – – 15 700  
Total   61 200 (2 994) (12 206) – – 46 000  
SB Mtshali                
29/12/2011 29/12/2014 9 005 (3 582) (5 423) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 6 400 – – – – 6 400  
20/12/2013 19/12/2016 6 000 – – – – 6 000  
19/12/2014 18/12/2017 5 800 – – – – 5 800  
Total   27 205 (3 582) (5 423) – – 18 200  
SA Fakie^^                
29/12/2011 29/12/2014 18 609 (3 666) (14 943) 17/03/2015 218,62 –  
Total   18 609 (3 666) (14 943) – – –  
^^ Retired on 16/02/2015.                
S Ntsele±                
29/12/2011 29/12/2014 6 800 (2 705) (4 095) 17/03/2015 218,62 –  
28/12/2012 28/12/2015 4 500 – – – – 4 500  
20/12/2013 19/12/2016 5 300 – – – – 5 300  
19/12/2014 18/12/2017 5 000 – – – – 5 000  
Total   21 600 (2 705) (4 095) – – 14 800  

± Appointed 1/04/2015.

Directors, prescribed officers, Company secretary of the MTN Group and directors and company secretaries of major subsidiaries’ shareholding and dealings in ordinary shares


2015		 December
2015		   December
2014		 Beneficial  
RS Dabengwa^ 1 473 552   1 473 552 Direct  
NP Mageza 400   400 Indirect  
PD Norman#* 300 970   300 970 Direct  
MJN Njeke 10   10 Direct  
BD Goschen#* 44 393   40 000 Direct  
KW Pienaar#@ 455 261   455 261 Direct  
S Ntsele# 4 000   – Direct  
KC Ramon 3 244   – Direct  
KC Ramon 9 901   – Indirect  
KP Kalyan 1 373   – Direct  
Total 2 293 104   2 270 193    
^ Resigned 9/11/2015.
* Prescribed officer.
# Major subsidiary director.
@ Retired 31/12/2015.

Subsequent to the year end there were no changes in the directors’ beneficial interest in MTN Group.

Directors, prescribed officers, Company secretary of the MTN Group and directors and company secretaries of major subsidiaries relating to MTN Zakhele

The following persons, being directors of MTN Group Limited and its major subsidiaries and the company secretary were allocated the following number of MTN Zakhele shares which has a shareholding in MTN Group Limited shares:

Beneficiary Nature of interest Shares  
PF Nhleko Direct beneficial 2 010 700  
KP Kalyan Direct beneficial 27 700  
MLD Marole Direct beneficial 15 700  
MJN Njeke Direct beneficial 6 700  
NP Mageza Indirect beneficial 51 420  
SB Mtshali Indirect beneficial 6 500  
CWN Molope Direct beneficial 1 000  
F Titi* Indirect beneficial 15 500  
SA Fakie** Direct beneficial 1 000  
Total   2 136 220  
* Resigned 31/12/2015.
** Retired 16/02/2015.

Subsequent to the year end there were no changes in the directors’ beneficial interest in MTN Zakhele.