Vodacom Integrated Report 2016

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The YeboYethu Employee Participation Trust (YeboYethu)
In July 2008, YeboYethu acquired 3.44% of Vodacom South Africa in
our R7.5 billion BBBEE transaction. All permanent South African
employees were able to participate in the Trust. Of the 1.875 billion
units available to the Trust, 75% was allocated to employees on
1 September 2008. The remaining 25% was set aside for future
employees on a sliding scale over the next five years. On
1 September 2014, the last of the available units were allocated
to employees. The allocation is weighted 70/30 in favour of
black employees.
The units will be converted into YeboYethu shares in March 2019.
Non-executive directors
Our business benefits from active non-executive directors who do a
lot more than attend meetings. Non-executive directors, therefore,
receive a yearly fee for their services on the Board and committees
rather than a fee for meetings attended.
The Board considered the King III recommendation that fees for
non-executive directors comprise a base fee, as well as an
attendance fee per meeting. In light of the current non-executives’
attendance record it has been decided not to change the current
policy of a set annual fee. This policy will be reviewed annually with
due consideration of attendance records.
If non-executive directors are requested to leave there is no
contractual compensation for loss of office. Non-executive directors
do not receive short- or long-term incentives.
Our memorandum of incorporation states that shareholders must
approve these fees at the AGM.
The annual fee paid to the Chairman of the Board includes all
committee fees.
Shareholding
Details of the beneficial interests of directors and prescribed officers
in the Company’s ordinary shares, excluding interests in the
long-term incentive plans, are set out in the directors’ report online
on
Funding of share plans and dilution
Details of the shares used for the FSP and the related dilution are
set out in the consolidated annual financial statements and the
directors’ report, which is available on All
awards granted under the FSP are settled through the purchase of
treasury shares or shares purchased in the market and not by newly
issued shares.
Remuneration report continued
Section 2
2016 Remuneration tables
In this section we summarise the actual remuneration packages
paid to our Executive directors and Prescribed officers compared to
2015. The annual guaranteed package for Executive directors and
Prescribed Officers are set out in the tables below. These amounts
are based on the annualised value of the monthly package in
March 2016.
Executive directors
2016
R
2015
R
Increase
%
MS Aziz Joosub 8 000 000 7 300 000 9.6
T Streichert1 (GBP) 315 445 – –
Prescribed officers
2016
R
2015
R
Increase
%
V Jarana 4 000 000 3 650 000 9.6
V Marthur2 (INR) 24 186 327 – –
1. Appointed 1 August 2015.
2. Appointed 16 November 2015.
Vodacom Group Limited Integrated report for the year ended 31 March 2016
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