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| Remuneration Report |
| REMUNERATION POLICY AND EXECUTIVE REMUNERATION (continued) |
| Anglo Platinum Share Option Scheme |
| Director’s name |
Balance as at
1 January 2007
or on date of
appointment |
Exercised
during 2007 |
Range of dates
exercised |
Balance1 |
Exercisable
options |
Allocation
price
– rands |
Exercisable
date |
| Mike Halhead2, 5 |
4,980 |
1,660 |
12 April 2007 |
3,320 |
3,320 |
279.42 |
1 January 2008 |
| Ralph Havenstein3, 5 |
9,700 |
7,600 |
27 February 2007 |
2,100 |
2,100 |
236.43 |
1 September 2007 |
| Roeland van Kerckhoven4, 5 |
3,840 |
1,280 |
14 March 2007 |
2,560 |
2,560 |
268.86 |
1 April 2007 |
| Duncan Wanblad |
26,685 |
6,051 |
13 April – |
|
|
|
|
|
|
|
25 September 2007 |
20,634 |
473 |
204.70 |
14 July 2002 |
|
|
|
|
|
473 |
204.70 |
14 July 2003 |
|
|
|
|
|
473 |
204.70 |
14 July 2004 |
|
|
|
|
|
947 |
204.70 |
14 July 2005 |
|
|
|
|
|
2,108 |
239.33 |
2 April 2005 |
|
|
|
|
|
2,108 |
239.33 |
2 April 2006 |
|
|
|
|
|
2,108 |
239.33 |
2 April 2007 |
|
|
|
|
|
4,220 |
239.33 |
2 April 2008 |
|
|
|
|
|
1,544 |
279.36 |
2 April 2006 |
|
|
|
|
|
1,544 |
279.36 |
2 April 2007 |
|
|
|
|
|
1,544 |
279.36 |
2 April 2008 |
|
|
|
|
|
3,092 |
279.36 |
2 April 2009 |
| Sandy Wood |
3,5402 |
1,180 |
30 March 2007 |
2,360 |
2,360 |
268.86 |
12 March 2008 |
| Total – Directors |
48,745 |
17,771 |
|
30,974 |
30,974 |
|
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| Anglo Platinum Share Option Scheme: Alternate directors |
| Director’s name |
Balance as at
1 January 2007
or on date of
appointment |
Exercised
during
2007 |
Range of
dates
exercised |
Lapsed |
Balance |
Exercisable
options |
Allocation
price
– rands |
Exercisable
date |
| Richard Pilkington1 |
30,627 |
— |
27 March – |
|
30,627 |
3,561 |
233.24 |
1 August 2007 |
|
|
|
24 April 2007 |
|
|
7,126 |
233.24 |
1 August 2008 |
| Chris Sheppard2 |
14,618 |
6,305 |
3 August 2007 |
8,313 |
— |
— |
— |
— |
| Total – Alternate directors |
45,245 |
6,305 |
|
8,313 |
30,627 |
10,687 |
|
|
| Total – Executive and alternate directors |
93,990 |
24,076 |
|
8,313 |
61,601 |
41,661 |
|
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| Anglo American plc share incentive schemes |
| Certain executive directors participate in certain historic Anglo American plc schemes as set out below. |
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| Anglo American plc Share Option Scheme |
| Options were not granted at a discount to the market price at date of grant and were not pensionable. The exercise
of the options is subject to Anglo American plc's earnings per share increasing by at least 6% above the UK Retail
Price Index over a three-year period. Options are normally exercisable, subject to satisfaction of performance
conditions, between three and ten years from the date of grant. |
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| Anglo American plc Share Option Scheme |
| |
Balance as at
1 January 2007 |
Exercised
during 2007 |
Balance as at
31 December
2007 |
Weighted
average
price, £ |
Earliest
exercisable
date |
| Robin Mills1, 2 |
97,200 |
|
97,200 |
9,629 |
23 March 2003 |
| Sandy Wood3 |
34,000 |
|
34,000 |
9,65 |
13 September 2004 |
| Total |
131,200 |
|
131,200 |
|
|
|
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| Other Anglo American plc Share Incentive Schemes |
| Norman Mbazima was entitled between 2003 and 2006 to receive awards of conditional shares in terms of the Anglo
American plc Long-term Incentive Plan (LTIP), bonus share plan and deferred bonus plan while he was an employee
of that company. Vesting of these awards is conditional upon the satisfaction of performance criteria similar to those
of Anglo Platinum's LTIP. |
| |
| Anglo American plc LTIP |
| |
Number
of shares |
Date
of award |
| Norman Mbazima1 |
16,000 |
April 2005 |
| Total |
16,000 |
|
|
| During 2007, 6,889 LTIPs vested and were sold, and 6,888 LTIPs lapsed. |
| |
| Anglo American plc Bonus Share Plan |
| |
Number
of shares |
Date
of award |
| Norman Mbazima1 |
9,869 |
Feb 2005 |
| |
6,768 |
Mar 2006 |
| Total |
16,637 |
|
|
| During 2007, 7,219 bonus and enhancement shares were sold when they vested. |
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| Other matters affecting remuneration of directors |
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| External appointments |
| Executive directors are not permitted to hold external directorships or offices without the approval of the Board. If
approval is granted, directors may retain the fees payable from one such appointment. |
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| Non-executive directors |
| The Board, in reviewing non-executive directors' fees, makes recommendations to shareholders in the light of fees
payable to non-executive directors of comparable companies and the importance attached to the retention and
attraction of high-calibre individuals as non-executive directors. Levels of fees are also set by reference to the
responsibilities assumed by the non-executive directors in chairing the Board and in chairing or participating in its
committees. |
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| Directors' fees |
| For 2007, each of the non-executive directors received directors' fees at the rate of R130,000 per annum (2006:
R120,000). The chairman received a sum of R750,000 per annum (2006: R530,000). The deputy chairman received a
fee of R215,000 per annum (2006: R198,000). Non-executive directors who serve on the Anglo Platinum
Group committees each received fees per annum as follows: Audit Committee R70,000 (2006: R65,000);
Corporate Governance Committee R50,000 (2006: R30,000); Nomination Committee R50,000 (2006: R30,000);
Remuneration Committee R55,000 (2006: R50,000); and Safety and Sustainable Development Committee R50,000
(2006: R30,000). |
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