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Share-based Payments
 12 Months Ended
Dec. 31, 2019
Disclosure of share-based payment arrangements [Abstract]  
Share-based Payments
SHARE-BASED PAYMENTS
 
US Dollars
Figures in millions
2019

 
2018

 
2017

Equity-settled share incentive schemes
 
 
 
 
 
Bonus Share Plan (BSP)
6

 
20

 
26

Deferred Share Plan (DSP)
13

 
—

 
—

Other
2

 
2

 
—

 
21


22


26

Cash-settled share incentive scheme
 
 
 
 
 
Cash-settled Long Term Incentive Plan (CSLTIP)
21

 
13

 
7

Total share-based payment expense (note 10)
42


35


33

Equity-settled incentive schemes

Equity schemes include the Bonus Share Plan (BSP), Deferred Share Plan (DSP), Long Term Incentive Plan (LTIP) and the Co-Investment Plan (CIP).

Bonus Share Plan (BSP) 
Award date (unvested awards and awards vested during the year)
2019
 
2018

 
2017

Calculated fair value

 
R
119.14

 
R
152.87

Vesting date 50%

 
22 Feb 2019

 
1 Mar 2018

Vesting date 50%

 
22 Feb 2020

 
1 Mar 2019

Expiry date

 
22 Feb 2028

 
1 Mar 2027


 
Number of shares
 
2019

 
2018

 
2017

Awards outstanding at beginning of year
4,557,919

 
4,479,679

 
4,198,285

Awards granted during the year
—

 
2,492,584

 
1,926,549

Awards lapsed during the year
(109,065
)
 
(359,343
)
 
(218,601
)
Awards exercised during the year
(2,307,439
)
 
(2,055,001
)
 
(1,426,554
)
Awards outstanding at end of year
2,141,415

 
4,557,919

 
4,479,679

Awards exercisable at end of year
1,207,936

 
1,588,512

 
1,904,021



Cash awards granted under the bonus share plan, outstanding at year end 31 December 2019 amount to 12,295 (2018: 33,046; 2017: 23,666) and an amount of 20,751 cash awards vested and are deemed settled for the year ended 31 December 2019 (2018: 15,209, 2017: 6,754)
Deferred Share Plan (DSP)
The Deferred Share Plan (DSP) was implemented with effect from 1 January 2018, with the first awards for the scheme allocated in March 2019. This represents a single scheme under which share awards will be allocated to certain employees from 2019 onwards, vesting equally over a period of 2, 3 and 5 years depending on the level of seniority of the participant.







Equity-settled incentive schemes (continued)
Award date (unvested awards and awards vested during the year)
2019

 
 
 
 
Calculated fair value
R
204.42

 
 
 
 
 
 
 
 
 
 
DSP 2 year
 
 
 
 
 
Vesting date 50%
21 Feb 2020

 
 
 
 
Vesting date 50%
21 Feb 2021

 
 
 
 
 
 
 
 
 
 
DSP 3 year
 
 
 
 
 
Vesting date 33%
21 Feb 2020

 
 
 
 
Vesting date 33%
21 Feb 2021

 
 
 
 
Vesting date 34%
21 Feb 2022

 
 
 
 
 
 
 
 
 
 
DSP 5 year
 
 
 
 
 
Vesting date 20%
21 Feb 2020

 
 
 
 
Vesting date 20%
21 Feb 2021

 
 
 
 
Vesting date 20%
21 Feb 2022

 
 
 
 
Vesting date 20%
21 Feb 2023

 
 
 
 
Vesting date 20%
21 Feb 2024

 
 
 
 
 
 
 
 
 
 
Expiry date
21 Feb 2029

 
 
 
 

 
Number of shares
 
2019

 
 
 
 
Awards outstanding at beginning of year

 
 
 
 
 
Awards granted during the year

1,669,191

 
 
 
 
Awards lapsed during the year
(55,208
)
 
 
 
 
Awards exercised during the year
(14,623
)
 
 
 
 
Awards outstanding at end of year
1,599,360

 
 
 
 


Long Term Incentive Plan (LTIP)
Award date (unvested awards and awards vested during the year)
 
 
 
 
2015

Calculated fair value

 

 
R
129.94

Vesting date
 
 
 
 
3 Mar 2018

Expiry date
 
 
 
 
3 Mar 2025


 
Number of shares
 
2019

 
2018

 
2017

Awards outstanding at beginning of year
447,842

 
2,466,357

 
4,363,330

Awards lapsed during the year
—

 
(1,186,330
)
 
(1,512,857
)
Awards exercised during the year
(218,203
)
 
(832,185
)
 
(384,116
)
Awards outstanding at end of year
229,639

 
447,842

 
2,466,357

Awards exercisable at end of year
229,639

 
447,842

 
455,914



Equity-settled incentive schemes (continued)

Co-Investment Plan (CIP)
 
Number of shares
 
2019

 
2018

 
2017

Awards outstanding at beginning of year
112,578

 
95,378

 
97,651

Awards granted during the year
—

 
80,809

 
112,105

Awards lapsed during the year
(16,500
)
 
(11,633
)
 
(62,775
)
Awards matched during the year
(72,151
)
 
(51,976
)
 
(51,603
)
Awards outstanding at end of year
23,927

 
112,578

 
95,378

Cash-Settled Long Term Incentive Plan (CSLTIP)

There were no changes to rules or practices within the CSLTIP scheme, and no awards during 2018 and 2019.
Award date (unvested awards and awards vested during the year)
 
 
 
 
 
 
2017
 
2016
Vesting date

1 March 2020
 
1 March 2019

 
Number of units
 
2019

2018

2017

Share units outstanding at beginning of year
3,815,761

4,469,618

2,464,630

Share units granted during the year
—

—

2,572,437

Share units lapsed during the year
(1,305,761
)
(611,265
)
(507,597
)
Share units exercised during the year
(1,029,438
)
(42,592
)
(59,852
)
Share units outstanding at end of year
1,480,562

3,815,761

4,469,618



The closing share price at 31 December 2019 is R316.50 (2018: R181.75; 2017: R128.62).