SABMiller plc executive share purchase scheme

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Prior to adoption of new share schemes, in March 1999, each of the executive directors and the chairman participated in the old SAB Executive Share Purchase Scheme.

Details of options granted and share purchases awarded prior to listing in respect of SAB Ltd shares under this scheme are set out below:

 
 
 
Directors
 
 
As at
31 March 2003
 
No of shares
granted during
the year
No of shares
implemented/
(exercised
during the year)
 
Sale price/
market price
(R)
 
Exercise
price
(R)
 
Exercise
period for
10 years from
 
 
As at
31 March 2004
EAG Mackay 100,000 (100,000) 53.19 34.55 14/04/1994
  100,000 53.63 29/05/1996 100,000
  100,000 53.95 28/05/1997 100,000
  150,000 46.40 11/11/1998 150,000
 
MI Wyman 100,000 53.63 29/05/1996 100,000
  40,000 32.84 14/09/1998 40,000
  60,000 46.40 11/11/1998 60,000
 
JM Kahn 400,000 53.63 29/05/1996 400,000

These options have all vested. The executive directors are not eligible to receive further awards under this scheme. The characteristics for this scheme are such that gains on exercise of options were recognised in prior years in respect of all the share rights reflected in the table. From 3 June 2000 the SAB Executive Share Purchase Scheme was closed for purposes of new awards. The successor Mirror Scheme is used for the purposes of grants to employees of South African employers in the group and certain categories of other employees of South African origin elsewhere in the group (other than SABMiller plc directors), principally in Africa.

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