Director/PDMR Shareholding

RNS Number : 2296T

Old Mutual PLC

24 March 2016

 

Old Mutual plc

Ref 223/16

24 March 2016

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS

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

Old Mutual plc has been informed of the following transactions by Ingrid Johnson, Group Finance Director of Old Mutual plc, and Mike Brown, Chief Executive of Nedbank Group Limited ("Nedbank") and a member of the Group Executive Committee (who are both Persons Discharging Managerial Responsibilities) under the above Scheme.

Vesting of Nedbank Restricted Shares

39.5% of the Restricted Shares in Nedbank awarded under the Scheme on 7 March 2013 with performance-based vesting criteria, and all of the Restricted Shares awarded under the Scheme on 8 March 2013 with time-based vesting criteria, vested on 11 March 2016, as set out below:

	Vested Nedbank Restricted Shares	Lapsed Nedbank Restricted Shares
Ingrid Johnson	8,320	12,743
Ingrid Johnson	21,063	-
Mike Brown	11,440	17,522
Mike Brown	29,962	-

Ingrid Johnson sold the following Nedbank shares on 17 March 2016:

	Nedbank shares sold	Sale price per share	Total Value
Ingrid Johnson	29,383	R182.4893	R5,362,083

The awards of restricted shares referred to above were granted to Ingrid Johnson under the Scheme in March 2013, prior to her becoming a director of Old Mutual plc.

Grant of Nedbank Restricted Shares

Mike Brown received a grant of Restricted Shares on 17 March 2016. The Restricted Shares are Nedbank Group ordinary shares that are issued at no cost at the volume-weighted average price (R190.54) for the three trading days ended 4 March 2016, being the three trading days immediately after the publication of Nedbank Group's 2015 results. The Restricted Shares are held on an indirect beneficial basis and dividends are paid to Mike Brown from the date of grant. Vesting of the Restricted Shares is subject to Nedbank Group performance targets that will determine the proportion of the award that finally vests on 18 March 2019.

	Restricted Shares Granted	Price per Restricted Share	Total Value of the Restricted Shares
Mike Brown	70,851	R190.54	R13,499,950

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 18.9 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 2015, the Group reported adjusted operating profit before tax of £1.7 billion and had £304 billion of funds under management from core operations (excluding Rogge).

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

 

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