Director/PDMR Shareholding

RNS Number : 3868C

Old Mutual PLC

14 March 2014

 



Old Mutual plc

Ref 22/14

14 March 2014

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS IN ACCORDANCE WITH RULE 3.1.4R OF THE DISCLOSURE AND TRANSPARENCY RULES

THE NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE SCHEME (THE "SCHEME")

85.93% of the restricted shares awarded under the Scheme on 7 March 2011 with performance-based vesting criteria, and all of the restricted shares awarded under the Scheme on 8 March 2011 with time-based vesting criteria, to Mr M W T Brown, Chief Executive of Nedbank Group Limited and a member of the Group Executive Committee of Old Mutual plc, vested on 10 March 2014.

The restricted shares, which were issued at no cost to Mr Brown, were fully taxable and subject to the deduction of PAYE at the time of vesting. 

Date of vesting	Number of vested shares	Vesting price per share	Total Value	Number of shares lapsed
10 March 2014	20,071	R215.77	R4,330,719.67	3,286
10 March 2014	23,357	R215.77	R5,039,739.89	-

Mr Brown now holds 184,986 restricted shares, granted under the Scheme and 217,085 Nedbank Group Limited Ordinary shares, of which 41,875 shares have been committed in respect of the compulsory bonus deferral scheme and 7,512 shares have been committed in respect of the Matched Share Scheme.

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Kelly de Kock                            SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides life assurance, asset management, banking and general insurance to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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