Ann Crotty’s article highlighting investors’ generally positive response to the enhanced disclosure on remuneration in the Naspers integrated annual report contained a few inaccuracies (Naspers shareholders call for clarity on CEO’s R1.6bn bonanza, July 23). There is a misunderstanding regarding the remuneration of the CEO (whose name was also misspelt). The article refers colloquially to Bob van Dijk having "picked up" R1.6bn, including R619m that he "cashed in". This is wildly incorrect. Van Dijk’s total cash take for the year was $2.4m (as set out onpage 81 of the remuneration report). This puts his total cash receipt at the lower end of the cash pay scale of global industry competitors. None of the other shares Van Dijk holds, whether vested or unvested, were cashed in. The article states that chairman Koos Bekker "previously indicated the high-voting shares would only be used for control purposes", but no one here ever said that. It is for the holders of A shares (the numbers g...
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