| Tue 13 Apr 2010, 12:51 | | NED - Nedbank Group - Dealings in Securities by Executive Directors and Company |
|
NED
NED
NED - Nedbank Group - Dealings in Securities by Executive Directors and Company
Secretary
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
("Nedbank Group" or "the company")
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND COMPANY SECRETARY
In terms of paragraph 3.63 - 3.66 of the Listings Requirements of the JSE
Limited, the following information is disclosed in respect of dealings by the
executive directors and the company secretary of Nedbank Group and Nedbank
Limited.
The following Nedbank Group ordinary shares (previously acquired by the
individuals listed below) have been committed by the undermentioned individuals
to the 2010 Matched Share Scheme on 12 April 2010:
Name Number of shares committed Value @ R137,88
MWT Brown 4 351 R599 915,88
(Executive director)
GW Dempster 2 721 R375 171,48
(Executive director)
RK Morathi 2 175 R299 889,00
(Executive director)
GS Nienaber 2 175 R299 889,00
(Company secretary)
The shares committed are in terms of the rules as set out in the Nedbank Group
(2005) Share Option, Matched Share and Restricted Share Scheme.
The value of the shares was determined using an average price of Nedbank Group
shares between 23 March and 31 March 2010.
The Matched Share Scheme allows for voluntary participation in that up to 50% of
an employee`s after-tax bonus may be used to acquire shares in the company. The
employee can also commit shares already owned by them up to an equivalent value
of 50% of the employee`s after tax bonus. The employee may dispose of these
shares at any time prior to the vesting date, being 1 April 2013, which will
cancel their participation in the Scheme in respect of these shares. On the
vesting date 50% of the shares still held in trust in respect of the
participant`s portfolio as per the Scheme rules will be matched on a one for one
basis if the person is in the employ of the company and a further 50% of the
shares held on vesting date will be matched on a one for one basis if a
predetermined company performance target for the period 2010 to 2012 is met.
In addition, the following Nedbank Group ordinary shares (previously acquired by
the individuals listed below) have been committed by the undermentioned
individuals to the 2010 Matched Share Scheme on 12 April 2010:
Name Number of shares committed Value @ R137,88
MWT Brown 4 895 R674 922,60
(Executive director)
GW Dempster 4 351 R599 915,88
(Executive director)
These shares are committed in terms of the compulsory bonus deferral scheme
introduced by the Remuneration Committee in 2009, under which deferred amounts
can be invested in the Matched Share Scheme described above. The deferred
amount will be forfeited should the employee resign before the end of the
deferral period as well as in cases where, in the sole opinion of the board,
material irregularities or misrepresentation of financial results come to light
during the deferral period.
The required prior written clearance for the commitment of these shares and
participation in the Matched Share Scheme has been obtained.
Sandton
13 April 2010
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor in Namibia
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 13/04/2010 12:51:15 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
