Director/PDMR Shareholding

RNS Number : 8486J

Old Mutual PLC

10 April 2015

 



Old Mutual plc

Ref 285/15

10 April 2015

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")

Ingrid Johnson, Group Finance Director of Old Mutual plc, and Mike Brown, Chief Executive of Nedbank Group Limited and a member of the Group Executive Committee of Old Mutual plc, received awards of restricted shares under the Nedbank Compulsory Bonus Scheme in March 2012, prior to Ingrid Johnson becoming a director of Old Mutual plc.

In respect of the Compulsory Bonus Scheme, the restricted shares were released from forfeiture in equal thirds after six, 18 and 30 months, however, if the executive remained in employment and elected to leave the shares in trust for a full 36-month period, and for 50% of the award a Nedbank performance target was achieved, the shares held in the trust would be eligible to be matched on a one-for-one basis.

Mike Brown also committed 1,746 shares to the Nedbank Voluntary Bonus Scheme in March 2012 under which the shares pledged would be matched on a one-for-one basis if he remained in employment, held the shares in trust for a 36-month period, and for 50% of the award a Nedbank performance target was achieved.

As a result of all criteria described above being achieved, the following shares were matched on 1 April 2015:

Executive	Scheme	Number of shares matched	Vesting price per share	Total Value
Ingrid Johnson	Compulsory Bonus Scheme	10,477	R239.42	R2,508,403
Mike Brown	Compulsory Bonus Scheme	15,192	R239.42	R3,637,269
Mike Brown	Voluntary Bonus Scheme	1,746	R239.42	R418,027

In respect of the 2015 Compulsory and Voluntary Bonus Schemes, the following shares were committed by Mike Brown on 1 April 2015:

Executive	Scheme	Number of shares committed
Mike Brown	Compulsory Bonus Scheme	16,435
Mike Brown	Voluntary Bonus Scheme	1,173

Enquiries

External communications

Patrick Bowes                           UK       [phone]

Investor relations

Dominic Lagan                           UK       [phone]

Sizwe Ndlovu                             SA        [phone]

Media

William Baldwin-Charles                          [phone]

                                                              [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to more than 17 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 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 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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