Financial statements

Directors' report
 
     
 

Directors’ remuneration

The remuneration paid to executive directors while in office of the Company during the year ended June 30 2010 can be analysed as follows:
 
 
Director   Basic  
remuneration  
R’000  		 Other  
benefits  
R’000  		 Retirement/  
medical  
benefits  
R’000  		 Cash  
incentives  
R’000  		 Total  
emoluments  
R’000  
FJ Barnes*   2 936   3 856   1 174   1 205   9 171  
BL Berson   4 515   174   168   4 917   9 774  
MC Berzack   3 463   564   98   3 700   7 825  
DE Cleasby   2 180   231   234   2 500   5 145  
AW Dawe   2 530   107   270   3 000   5 907  
LI Jacobs   1 415   119   189   1 000   2 723  
B Joffe   8 049   765   525   9 168   18 507  
P Nyman   1 905   182   171   600   2 858  
SG Pretorius† 2 425   134   355   2 000   4 914  
LP Ralphs   3 470   391   418   4 000   8 279  
AC Salomon   2 416   114   270   2 750   5 550  
2010 Total   35 304   6 637   3 872   34 840   80 653  
* In terms of a compromise agreement entered into with Mr FJ Barnes in March 2010, a total benefit of £1,0 million will be paid over a two-year period ending in February 2012, based on certain terms and conditions. Included in Mr FJ Barnes’s 2010 remuneration is an amount of R3,9 million which was paid to him on the cessation of his executive services.
† As a result of an administrative error, Mr SG Pretorius was erroneously paid an amount of R586 320 in the 2009 financial year. This amount has been repaid to the Group in the current financial year. (Shareholders are referred to the SENS announcement on November 20 2009). The remuneration as disclosed in the 2009 annual report has not been restated, however, the current year’s remuneration is shown net of this repayment.
• Certain executive directors serve as non-executive directors of companies outside of the Group. Directors’ fees in this regard, are paid to the Group.  

 

For comparative purposes the remuneration paid to executive directors while in office of the Company during the year ended June 30 2009 can be analysed as follows:
Director   Basic  
remuneration  
R’000  		 Other  
benefits  
R’000  		 Retirement/  
medical  
benefits  
R’000  		 Cash  
incentives  
R’000  		 Total  
emoluments  
R’000  
FJ Barnes   4 703   246   290   –   5 239  
BL Berson   4 239   170   349   3 804   8 562  
MC Berzack   3 252   377   381   2 600   6 610  
DE Cleasby   2 007   236   207   1 800   4 250  
AW Dawe   2 362   58   250   2 700   5 370  
LI Jacobs   1 300   134   175   750   2 359  
B Joffe   7 200   289   471   7 453   15 413  
P Nyman   1 727   205   164   –   2 096  
SG Pretorius   3 371   217   476   1 800   5 864  
LP Ralphs   3 254   404   375   3 600   7 633  
AC Salomon   2 181   192   249   2 500   5 122  
2009 Total   35 596   2 528   3 387   27 007   68 518