Director/PDMR Shareholding

RNS Number : 8404Z

Old Mutual PLC

12 March 2013

 



Old Mutual plc

Ref 24/13

12 March 2013

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 following restricted share awards over Nedbank Group ordinary shares were granted to Mr M W T Brown, Chief Executive of Nedbank Group Limited and a member of the Group Executive Committee of Old Mutual plc, under the terms of the Nedbank Group (2005) Share Option, Matched Share and Restricted Share Scheme:

Grant Date	Vesting Criteria	Number of Restricted shares granted	Value
7 March 2013	Performance-based	28,962	R5,499,883.80
8 March 2013	Time-based	28,962	R5,499,883.80

The restricted shares were granted at the volume weighted average price (R189.90) for the three trading days ending 27 February 2013 at no cost to Mr Brown and vesting of these shares is due to occur on 8 March 2016 (in respect of the performance-based award) and 9 March 2016 (in respect of the time-based award).

Mr Brown now holds 169,500 restricted shares, granted under the Nedbank Group (2005) share option, matched share and restricted share scheme and 151,401 Nedbank Group Limited ordinary shares, of which 30,671 shares have been committed in respect of the compulsory bonus deferral scheme and 10,330 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 14 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 2012, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £262 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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