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From Feb 2014 to Feb 2019 #PSG& #39;s 3 Executive Directors were paid R242 million, around R80 mil each, excl unvested options. What exceptionally rare skills did they possess, and how did they perform to justify these extraordinary payments ? 1)
2) Exec remuneration increased from R16.75 to R127.39 mil from Feb & #39;14 to Feb & #39;19 for these 3 Execs. That& #39;s an avg compounded annual increase of 50% ! #PSG& #39;s share price cagr was 21.07% in same period /3
3) in same period Capitec& #39;s share price increased from R194 to R1452, or an 49.50% avg compounded annual increase. Just accounting for it& #39;s Capitec stake, PSG& #39;s share price should have increase by c. R204-50 / share, but managed only R148-50 of that. Lost value R56 / share /4
4) #PSG& #39;s SOTP value, it& #39;s primary measurement of value added and performance increased from R92-80 at Feb & #39;14 to R321-46 today. Of that R228-66 increase @CapitecBankSA accounts for R204-54 / share, or about 90% . /5
5) Therefore, excluding @CapitecBankSA , #PSG& #39;s SOTP value only increased by about 4.73% compounded annually the past 5 years., in contrast to the 3 Exec& #39;s compensation of 50% compounded annually in same period.
