CEO, Exxaro Re­sources

Finweek English Edition - - COMPANIES & INVESTMENTS - Dif­fer­ence

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

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