CEO, Exxaro Resources
Exxaro share price Total shares in issue Market capitalisation ZAR Nkosi’s shares Nkosi’s worth ZAR
Dividend paid (R1.5 on 15 April) to Nkosi R14 835 310.50 investment, which owns 0.29% of ARM. It should be mentioned that Motsepe announced earlier t his year t hat he intended to give half of his wealth away to charitable organisations via a trust.
Sipho Nkosi, CEO of Ex x a r o Resources, a company heavily linked to the price of thermal coal, which has declined about a quarter in price in the last year, saw his 3% stake in the R50bn company shrink R291m since January. Nkosi holds 9.89m shares in Exxaro, mostly through the Main Street 333 Proprietary Ltd, which owns 186.6m of Exxaro Resources shares. Finweek readers need not bear too heavy a heart for Nkosi, however. That’s because Exxaro Resources still paid out a R1.5bn div i dend on 15 April worth about R14.8m, which should go some way to soothing the impact of the share-price weakness.
By far the heaviest losses, however, were suffered by Des Sacco, chairman of Assore, a company that has significant stakes in SA’s manganese and iron ore export industries. Sacco saw R2.27bn worth of share-price declines so far this year.
Again, Sacco benefited from a significant R2.5bn dividend paid by Assore on 11 March, equal to a personal income of R81m, not to mention the R5.3m paid to him in salary last year.
“What I guess is also important is at what price these shares were acquired for,” said Naryshkine. “In the case of