Notes to the financial statements | Note 11.1

11. Related parties
11.1. Directors' interest and Prescribed Officers
 
  Group and Company
  Beneficial Non-Beneficial
Directors' shareholding Direct Indirect Direct Indirect
Number of shares        
2024        
Executive        
S Taukobong 47 857 – – –
N Dlamini1 – – – –
DJ Reyneke2 9 377 – – –
  57 234 – – –
Non-executive        
B Kennedy 200 – – –
  200 – – –
1 Appointed with effect from 1 December 2023.
2 Resigned as Executive Director with effect from 30 November 2023.

There has been no change in the above since 31 March 2024 to the date of approval of the financial statements.

2023        
Executive        
S Taukobong 47 857 – – –
DJ Reyneke 9 377 – – –
  57 234 – – –
Non-executive        
B Kennedy 200 – – –
  200 – – –

 

  Group and Company
Emoluments per Director Retainer
fees
R		 Attendance
fees
R		 Performance
bonus
R		 Fringe
and other
benefits
R		 Total
R
2024          
Non-executive 7 949 334 5 033 314 – – 12 982 648
MG Qhena 2 069 039 – – – 2 069 039
PCS Luthuli 470 000 465 000 – – 935 000
LL Von Zeuner 470 000 615 000 – – 1 085 000
S Sibisi 470 000 300 000 – – 770 000
KA Rayner 470 000 710 000 – – 1 180 000
H Singh 470 000 365 000 – – 835 000
O Ighodaro 470 000 300 000 – – 770 000
E Matenge-Sebesho 470 000 510 000 – – 980 000
IO Selele 470 000 260 000 – – 730 000
B Kennedy 470 000 550 000 – – 1 020 000
P Lebina 470 000 365 000 – – 835 000
SH Yoon 735 000 300 000 – – 1 035 000
N Ford-Hoon1 210 295 163 314 – – 373 609
M Nyati2 235 000 130 000 – – 365 000

 

  Remunera-  
tion5
R  		 Performance
bonus
R		 Fringe
and other
benefits
R		 Total
R
Executives who held office during 31 March 2024 15 693 467  3 517 809 20 587 19 231 863
S Taukobong (Group Chief Executive Officer) 9 450 000  2 972 575 12 293 12 434 868
DJ Reyneke (Group Chief Financial Officer)3 4 076 800  – 8 195 4 084 995
N Dlamini (Group Chief Financial Officer)4 2 166 667  545 234 99 2 712 000
Total emoluments – paid by Telkom       32 214 511
1 Resigned with effect from 6 September 2023.
2 Resigned with effect from 29 September 2023.
3 Resigned as Executive Director with effect from 30 November 2023.
4 Appointed with effect from 1 December 2023.
5 Remuneration includes basic salary, company contribution to the TRF and flexible benefits.

 

  Group and Company
Emoluments per Director  Retainer
fees
R		  Attendance
fees
R		  Performance
bonus
R		 Fringe
and other
benefits
R		  Total
R
2023          
Non-executive 8 375 174 5 499 959 – – 13 875 133
N Kapila 306 250 125 000 – – 431 250
KW Mzondeki 195 833 256 250 – – 452 083
E Matenge-Sebesho 470 000 568 333 – – 1 038 333
F Petersen-Cook 195 833 212 500 – – 408 333
LL Von Zeuner 470 000 615 000 – – 1 085 000
RG Tomlinson 195 833 212 500 – – 408 333
O Ighodaro 470 000 300 000 – – 770 000
PCS Luthuli 470 000 423 333 – – 893 333
S Sibisi 470 000 362 500 – – 832 500
KA Rayner 470 000 710 000 – – 1 180 000
SH Yoon 673 225 200 001 – – 873 226
B Kennedy 313 333 378 218 – – 691 551
P Lebina 313 333 263 218 – – 576 551
M Nyati 313 333 193 218 – – 506 551
IO Selele 313 333 193 218 – – 506 551
N Ford-Hoon 195 830 121 670 – – 317 500
MG Qhena 9 038 – – – 9 038
H Singh 470 000 365 000 – – 835 000
MS Moloko 2 060 000 – – – 2 060 000

 

  Remuneration1
R  		 Performance
bonus
R		 Fringe
and other
benefits
R		 Total
R
Executives who held office during 31 March 2023 15 565 200  – 2 216 128 17 781 328
S Taukobong (Group Chief Executive Officer) 9 450 000  – 1 617 235 11 067 235
DJ Reyneke (Group Chief Financial Officer) 6 115 200  – 598 893 6 714 093
Total emoluments – paid by Telkom       31 656 461
1 Remuneration includes basic salary, company contribution to the TRF and flexible benefits.

Refer to remuneration report for appointments and resignations.

Included in fringe and other benefits is motor car insurance for S Taukobong of R11 997, DJ Reyneke of R7 998 and N Dlamini of Rnil.

S Taukobong was granted nil shares (31 March 2023: 329 651 shares) and the total IFRS 2 expense was R5 750 929 (31 March 2023: R8 606 926). DJ Reyneke was granted nil shares (31 March 2023: 106 660 shares) and the total IFRS 2 expense was R1 658 395 (31 March 2023: R3 138 378). N Dlamini was granted nil shares. The IFRS 2 expense is in relation to previously granted shares. The Group reassessed the estimated amount of shares that will vest for executives based on the current performance against vesting targets.

  Group and Company
Emoluments per prescribed officer:  Remuneration1
R  		  Incentive
bonus
R		 Fringe 
and other 
benefits2
R 		  Total
R		  Pension –  
TRF 13%3
R 
2024          
AC Beukes 5 700 000  1 448 296 12 292  7 160 588 518 700
PJ Bogoshi 5 783 355  967 553 296  6 751 204 563 877
NM Lekota 4 351 552  1 269 718 296  5 621 566 456 913
LTS Maloba 4 119 500  – 2 337 481  6 456 981 348 098
L Siyo 5 608 727 1 760 996 12 292  7 382 015 325 306
DJ Reyneke 4 076 800 1 643 795 8 195  5 728 790 461 086
Total emoluments – granted by Telkom 29 639 934 7 090 358 2 370 852  39 101 144 2 673 980

 

  Group and Company
Emoluments per prescribed officer:  Remuneration1
R  		  Incentive
bonus
R		 Fringe 
and other  
benefits2
R  		  Total
R		 Pension –  
TRF 13%3
R  
2023          
AC Beukes 5 700 000  – 12 293  5 712 293 518 700 
PJ Bogoshi 5 783 355  – 296  5 783 651 563 877 
S Taukobong 9 450 000  – 12 293  9 462 293 859 950 
NM Lekota 4 351 552  – 296  4 351 848 456 913 
LTS Maloba 4 494 000  – 12 293  4 506 293 379 743 
L Siyo 5 608 727  – 12 293  5 621 020 325 306 
Total emoluments – granted by Telkom 35 387 634  – 49 764  35 437 398 3 104 489 
1 Remuneration includes basic salary and has been apportioned based on the period served as Prescribed Officers. Comparative information has been provided for members identified as Prescribed Officers.
2 Fringe and other benefits include motor car insurance, relocation benefits, separation packages, notional completion bonuses and leave payments.
3 The pension contribution is a company contribution.

 

Share allocation per Prescribed Officer: Total vested 
shares year 
to date1		 Number of
shares FY2017/18		 Number of
shares FY2018/19		 Number of
shares FY2019/20		 Number of
shares FY2020/21		 Number of
shares FY2021/22		 Number of
shares FY2022/23		 IFRS 2
expense
R
2024                
AC Beukes 413 257  – 45 455 36 275 505 561 99 344 99 419 2 158 495
PJ Bogoshi 422 368  – 62 611 63 364 517 998 291 284 100 872 3 553 676
NM Lekota 394 544  67 994 46 542 46 583 380 816 76 230 75 899 1 734 221
LTS Maloba 407 859  – 22 085 46 356 404 449 79 475 78 384 1 290 533
L Siyo 285 416  – – 37 106 404 449 171 051 97 827 2 460 848
DJ Reyneke 331 089  17 693 24 221 14 900 345 893 108 146 106 660 1 658 395
  2 254 533  85 687 200 914 244 584 2 559 166 825 530 559 061 12 856 168

 

Share allocation per Prescribed Officer: Total vested
shares year to
date		 Number of
shares
FY2017/18		 Number of
shares
FY2018/19		 Number of
shares
FY2019/20		 Number of
shares
FY2020/21		 Number of
shares
FY2021/22		 Number of
shares
FY2022/23		 IFRS 2
expense
R
2023                
AC Beukes 76 199 – 45 455 36 275 505 561 99 344 99 419 4 308 820
PJ Bogoshi 77 019 – 62 611 63 364 517 998 291 284 100 872 5 821 798
S Taukobong 193 425 – 186 503 53 899 637 007 404 310 329 651 8 606 926
NM Lekota 140 654 67 994 46 542 46 583 380 816 76 230 75 899 3 359 199
LM Siyo 15 770 – – 37 106 404 449 171 051 97 827 4 216 604
LTS Maloba 37 369 – 22 085 46 356 404 449 79 475 78 384 3 601 817
  540 436 67 994 363 196 283 583 2 850 280 1 121 694 782 052 29 915 164
1 Included in the total vested shares year to date are shares that vested in terms of the Telkom share scheme rules and IFRS 2 (Share-based Payments) which will only be exercised after the closed period.