Integrated Reports Senwes Financial Review 2018 - Page 54

54 FINANCIAL REVIEW 23.6 Information on directors’ terms of office Equity-settled share-based payments (company): 2018 Executive F Strydom CF Kruger JMB Maswanganyi Total Number of shares granted* Number Accumulated expense - opening balance R Movement for the year R 2 632 247 1 691 193 176 612 4 500 052 10 250 719 6 800 499 552 962 17 604 180 2 944 520 1 739 808 - 4 684 328 For information regarding the non-executive directors, refer to the statutory directors’ report (p 96). Vesting R Total IFRS2 reserve R (1 166 891) (777 927) (552 962) (2 497 780) 12 028 348 7 762 380 - 19 790 728 * Included with the number of shares are both the initial and additional grants. The total share-based payment expense recognised for the 2018 financial year amounted to R4,6 million and relates to 5 tranches which will vest, depending on vesting conditions being met, on a yearly basis from June 2018 to June 2022. Executive directors Director Service contract expiry date Position held F Strydom 31 July 2019 Group Chief Executive Officer CF Kruger 31 January 2020 Group Chief Financial Officer J Maswanganyi Resigned effective 29 June 2017 Directors’ direct and indirect interests in the company: COMPANY Equity-settled share-based payments (company): Executive Number of shares granted* Number Accumulated expense - opening balance R Movement for the year R F Strydom 2 502 448 6 317 633 CF Kruger 1 661 589 JMB Maswanganyi Total 2017 2018 2017 Vesting R Total IFRS2 reserve R 3 933 086 - 10 250 719 4 201 576 2 598 923 - 6 800 499 1 270 050 3 606 641 (3 053 679) - 552 962 5 434 087 14 125 850 3 478 330 - 17 604 180 Number of shares % of total shares Number of shares % of total shares Non-executive directors 170 550 0,09% 170 550 0,09 Executive directors 112 202 0,06% 174 655 0,10 42 602 0,02% 42 602 0,02 - - - - 325 354 0,17% 387 807 0,21 Direct Indirect Non-executive directors * Included with the number of shares are both the initial and additional grants. Executive directors The total share-based payment expense recognised for the 2017 financial year amounted to R3,5 million and relates to 6 tranches which will vest, depending on vesting conditions being met, on a yearly basis from June 2017 to June 2022. Total direct and indirect interest FINANCIAL REVIEW Group Executive Director