Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 44
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SASOL LIMITED GROUP
Report of the Remuneration Committee continued
c. Unvested LTI holdings (Intrinsic value)
Executive Directors
FR Grobler
P Victor
VD Kahla
Intrinsic
cumulative
value at
beginning
of year2
’000
Intrinsic
value
of awards
made during
the year1
’000
R18 009
R16 225
R11 005
R19 545
R11 818
R13 443
Change in
Effect of
intrinsic
corporate
value performance
for the year3
targets
’000
’000
R22 675
R16 422
R14 816
Dividend
equivalents
’000
(R2 013)
(R3 174)
(R2 193)
LTIs
settled4
’000
R146
R190
R162
(R937)
(R845)
(R1 078)
Intrinsic
cumulative
value at end
of year2
’000
R57 425
R40 636
R36 155
1. LTIs granted on 6 October 2020 (on-appointment) and 4 December 2020 (annual LTI award).
2. Intrinsic values at the beginning and end of the year have been determined using the closing price of:
30 June 2021 R218,01
30 June 2020 R132,20
3. Change in intrinsic value for the year results from changes in share price.
4. Long-term incentives settled represent long-term incentives that vested with reference to the group results for 2020 that was settled in the 2021
financial year. Difference between the long-term incentive gains disclosed in 2020 and the amount settled in 2021 is due to difference in actual share
price at vesting date and the share price at date of disclosure.
d. Share appreciation right (SAR) holding – outstanding (vested)1
Balance at
beginning
of year
(number)
Executive Directors
SARs
expired
(number)
Balance at
end of year
(number)
FR Grobler
35 413
(17 884)
17 529
Total
35 413
(17 884)
17 529
1. Plan closed since 2015.
e. Fair Value of share appreciation right holding1
Effect of
change in
Executive
Directors
R'000
Change in
Fair value at
fair value
beginning
of year2 for the year3
R'000
R'000
Executive Directors
Fair value
at end
of year2
R'000
FR Grobler
374
(328)
(39)
7
Total
374
(328)
(39)
7
1. Plan closed since 2015.
2. Fair values at the beginning and end of year have been determined using the IFRS 2 option values on 30 June 2020 and 30 June 2021.
3. Change in fair value for the year results from changes in share price.
f. Share appreciation rights (SARs) exercised
No SARs were exercised by Executive Directors during the year.
g. Progress against minimum shareholding requirement (MSR):
Vested shares subject to continued employment
only until 2022/2025
(excluding accrued dividend equivalents, including RLTIs)
Minimum
Shareholding
MSR
Requirement Achievement
Beneficial
(MSR)
period (CY)
Shareholding
FR Grobler
P Victor
VD Kahla
R22 050 000
R8 680 000
R5 098 706
2024
2024
2025
Beneficial
shareholding –
30 June
2021
Post tax
vestings –
September
20211, 2
R7 415 081
R4 463 896
R2 136 333
R1 433 296
R3 245 376
R1 460 249
Beneficial
shareholding
value
Number
(including
of shares
September
to vest –
2021 post
% MSR 22 September
tax vesting) Achieved
2022
R8 848 377
R7 709 273
R3 596 581
40%
89%
71%
2 094
3 301
2 281
1. Includes the 2nd tranche of the award made in September 2016. The CPT applied to this award was 47%
2. Includes the 1st tranche of the award made on 22 September 2018. The CPT applied to this award is 44,7%.
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Sasol Annual Financial Statements 2021
Number
of shares
to vest2023/2025
Total
number
Pre-tax
of vested
value of
shares
vested
subject shares subject
only to
only to
continued
continued
employment employment3
53 654
35 523
24 395
55 748 R12 656 495
38 824 R8 814 202
26 676 R6 056 143