INTEGRATED REPORT 2019

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Annexure D

SHAREHOLDER DISTRIBUTION

1. Analysis of registered shareholders and Company schemes
 

Registered shareholder spread

In accordance with the JSE Listings Requirements, the following table confirms the spread of registered shareholders as detailed in the annual report and accounts dated 30 September 2019 was:

Registered shareholder spread

Shareholder spread Number
of holders		   % of total
shareholders		   Number
of shares		   % of issued
capital		  
1 – 1 000 shares 5 680   57.15   1 307 053   0.09  
1 001 – 10 000 shares 2 403   24.18   8 290 213   0.56  
10 001 – 100 000 shares 1 113   11.20   40 387 139   2.75  
100 001 – 1 000 000 shares 574   5.78   195 814 067   13.35  
1 000 001 shares and above 168   1.69   1 221 550 690   83.25  
Total 9 938   100.00   1 467 349 162   100.00  

Public and non-public shareholdings

Within the shareholder base, we are able to confirm the split between public shareholdings and directors/Company-related schemes as being:

Shareholder spread Number
of holders		   % of total
shareholders		   Number
of shares		   % of issued
capital		  
Non-public shareholders 9   0.09   24 131 973   1.64  
   Directors 5   0.05   1 226 520   0.08  
   Brimstone Investment Corporation Limited 2   0.02   10 036 807   0.68  
   Life Healthcare Employees Share Trust 1   0.01   12 396 253   0.85  
   Life Healthcare long-term incentives scheme 1   0.01   472 393   0.03  
Public shareholders 9 930   99.91   1 443 217 189   98.36  
Total 9 939   100.00   1 467 349 162   100.00  
2. Substantial investment management and beneficial interests
 

Substantial investment management and beneficial interests above 3%

Through regular analysis of STRATE registered holdings, and pursuant to the provisions of section 56 of the Companies Act, the following shareholders held directly and indirectly equal to or in excess of 3% of the issued share capital as at 30 September 2019:

Investment management shareholdings Total
shareholding		   %  
Allan Gray Proprietary Limited 301 325 861   20.54  
Government Employees Pension Fund (PIC) 186 630 532   12.72  
Lazard Asset Management LLC Group 112 351 305   7.66  
Coronation Asset Management 78 399 149   5.34  
Industrial Development Corporation (IDC) 69 867 972   4.76  
BlackRock Inc. 59 972 962   4.09  
The Vanguard Group Inc. 54 530 236   3.72  
Sanlam Investment Management 53 649 989   3.66  
Total 916 728 006   62.49  

Beneficial shareholdings Total
shareholding		   %  
PIC 227 952 296   15.53  
Allan Gray Balanced Fund 108 185 760   7.37  
IDC 69 867 972   4.76  
Total 406 006 028   27.66  

Previously disclosed holdings

Investment managers now holding below 3%

Investment manager Total
shareholding		   %   Previous %  
Newshelf 831 Proprietary Limited –   –   3.21  
Total –   –   3.21  

Beneficial owners now holding below 3%

Beneficial owners Total
shareholding		   %   Previous %  
Lazard Emerging Market Fund 42 420 469   2.89   3.05  
Newshelf 831 Proprietary Limited –   –   3.21  
Total 42 420 469   2.89   6.26  
3. Geographic split of shareholders
 

Geographic split of investment managers and Company-related holdings

Region Total shareholding   % of issued
capital		  
South Africa 947 970 749   64.60  
United States of America and Canada 305 838 062   20.84  
United Kingdom 54 195 922   3.70  
Rest of Europe 58 137 956   3.96  
Rest of world¹ 101 206 473   6.90  
Total 1 467 349 162   100.00  

Geographic split of beneficial shareholders

Region Total shareholding   % of issued
capital		  
South Africa 911 257 830   62.10  
United States of America and Canada 280 638 417   19.12  
United Kingdom 26 614 269   1.82  
Rest of Europe 95 448 908   6.51  
Rest of world¹ 153 389 738   10.45  
Total 1 467 349 162   100.00  

¹ Represents all shareholdings except those in the above regions.
4. Shareholder categories
 

An analysis of beneficial shareholdings, supported by the section 56 enquiry process, confirmed the following beneficial shareholder types:

Category Total
shareholding		   % of issued
capital		  
Unit trusts 562 486 973   38.33  
Pension funds 450 313 938   30.69  
Sovereign wealth 80 656 511   5.50  
Government of SA 69 867 972   4.76  
Private investors 52 380 407   3.57  
Insurance companies 40 785 108   2.78  
Trading position 35 635 274   2.43  
Exchange-traded fund 25 575 366   1.74  
Custodians 18 477 120   1.26  
Employees 12 396 253   0.85  
Black economic empowerment 10 623 146   0.72  
American depository receipts 9 651 906   0.66  
University 6 771 267   0.46  
Medical aid scheme 3 351 741   0.23  
Local authority 3 214 492   0.22  
Charity 2 993 814   0.20  
Hedge fund 1 268 745   0.09  
Corporate holding 472 393   0.03  
Foreign government 416 181   0.03  
Remainder 80 010 555   5.45  
Total 1 467 349 162   100.00