Director/PDMR Shareholding

RNS Number : 1177E

Old Mutual PLC

04 April 2014

 



Old Mutual plc

Ref 31/14

4 April 2014

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

NEDBANK 2011 MATCHED SHARE SCHEME

On 31 March 2011 (the 2011 Inception Date), 10,584 Nedbank ordinary shares under the compulsory bonus share scheme element of the 2011 Matched Share Scheme and 4,233 Nedbank ordinary shares under the voluntary bonus share scheme element of the 2011 Matched Share Scheme were placed in trust in respect of Mr. Mike Brown, Chief Executive of Nedbank and a member of the Old Mutual plc Group Executive Committee, on the basis that on the vesting date (the day following three years after the 2011 Inception Date) 50% of the shares held in trust would be matched on a one-for-one basis if Mr. Brown remained employed by 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 employed by Nedbank on the vesting date and the predetermined Nedbank company performance target for the period 2011 to 2013 was met, resulting in 100% of the shares being matched. The matched shares vested as follows:

Date of vesting	Number of vested shares	Vesting price per share	Total Value
1 April 2014	14,817	R222.50	R3,296,782.50

NEDBANK 2014 MATCHED SHARE SCHEME

On 1 April 2014 (the 2014 Inception Date), 16,141 Nedbank ordinary shares under the compulsory bonus share scheme element of the 2014 Matched Share Scheme and 1,345 Nedbank ordinary shares under the voluntary bonus share scheme element of the 2014 Matched Share Scheme, were placed in trust in respect of Mr. Brown, on the basis that on the vesting date (the day following three years after the 2014 Inception Date) 50% of the shares held in trust would be matched on a one-for-one basis if Mr. Brown remained employed by 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.

Grant Date	Basis for award	Number of shares	Total Value
1 April 2014	Compulsory bonus scheme	16,141	R3,599,927.23
1 April 2014	Voluntary bonus scheme	1,345	R299,975.35

The value of the shares was calculated using the weighted average price of Nedbank ordinary shares (R223.03) between 20 March 2014 and 28 March 2014.

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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