| Tue 5 Apr 2011, 10:53 | | NED - Nedbank Group - Dealings in Securities by Executive Directors and Company |
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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 paragraphs 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 have been acquired on the open
market by the undermentioned individuals and committed to the 2011 Matched Share
Scheme on 4 April 2011:
Name Number of shares committed Value @ R141,72
MWT Brown 10 584 R1 499 964,48
(Executive director)
GW Dempster 5 292 R749 982,24
(Executive director)
RK Morathi 3 175 R449 961,00
(Executive director)
GS Nienaber 264 R37 414,08
(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 22 March and 1 April 2011.
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.
In addition, the following Nedbank Group ordinary shares have been acquired on
the open market by the undermentioned individuals and committed to the 2011
Matched Share Scheme on 4 April 2011:
Name Number of shares committed Value @ R141,72
MWT Brown 4 233 R599 900,76
(Executive director)
RK Morathi 4 233 R599 900,76
(Executive director)
And the following Nedbank Group ordinary shares, previously acquired by the
individuals below, have been committed by the undermentioned individuals to the
2011 Matched Share Scheme on 4 April 2011:
Name Number of shares committed Value @ R141,72
GW Dempster 4 233 R599 900,76
(Executive director)
GS Nienaber 1 796 R254 529,12
(Company secretary)
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 2014, 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 2011 to 2013 is met.
The required prior written clearance for the commitment of these shares and
participation in the Matched Share Scheme has been obtained.
Sandton
5 April 2011
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor in Namibia
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 05/04/2011 10:53:01 Produced by the JSE SENS Department.
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