Director/PDMR Shareholding

RNS Number : 7564J

Old Mutual PLC

06 April 2010

 



Ref 20/10

6 April 2010

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

MATURITY OF A NEDBANK MATCHING RESTRICTED SHARE AWARD TO A PDMR

On 30 March 2007, Mr M W T Brown, Chief Executive of Nedbank Group Limited ("Nedbank"), which is a majority-owned subsidiary of Old Mutual plc, pledged 8,878 Nedbank ordinary shares under the Nedbank 2005 Matched Share Scheme, on the basis three years later 50% of the shares held in trust would be matched on a one-for-one basis if Mr Brown remained in the employment of Nedbank and a further 50% of the shares would be matched on a one-for-one basis if a predetermined Nedbank company performance target was met.

Mr Brown remained in the employment of Nedbank on the vesting date, but the predetermined Nedbank company performance target was not met, resulting in only 50% (4,439) of the shares being matched.

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

Enquiries

Investor Relations
Patrick Bowes	UK	[phone]
Deward Serfontein	SA	[phone]
Media
Don Hunter (Finsbury)	UK	[phone]

Notes to Editors

Old Mutual

Old Mutual plc is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance in Europe, the Americas, Africa and Asia.  Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.

In the year ended 31 December 2009, the Group reported adjusted operating profit before tax of £1.2 billion (on an IFRS basis) and had £285 billion of funds under management at the year end.  The Group has approximately 54,000 employees.

 

END

 

 

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