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earningsMoneyweb reports that Barclays Africa Group executives have been granted restricted share awards (RSAs) to the value of R156m “to retain skills critical during the separation [from Barclays Plc] and beyond”.  

This was disclosed in the group’s 2017 integrated report, published on 29 March.  The RSAs were awarded to 53 “key employees… including executive directors and prescribed officers” on 1 October 2017 with a two-year performance period.  This followed the grant of the first tranche of RSAs related to the selldown in 2016.  These, granted to 74 key employees, were worth R191m and will run until 30 September.  Group CE Maria Ramos, deputy CE for SA banking David Hodnett and financial director Jason Quinn received the same award of RSAs under the 2017 plan as in 2016, namely worth R8m, R7m and R3m, respectively.  Prescribed officer Nomkhita Nqweni, CE of wealth, investment management and insurance, received RSAs worth R3m (the same as in 2016).  Excluding the executive directors and the prescribed officer, the mean value of the RSAs granted in 2017 to the other “49 key employees” was R2.755m.  Aside from the RSAs, the executives were also granted long-term incentive plan awards worth more than R90m.  In 2017, shareholders raised a number of concerns around remuneration matters.

  • Read this report by Hilton Tarrant in full at Moneyweb

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