| Wed 6 Apr 2011, 12:30 | | OML - Old Mutual plc - Notification of transactions of directors persons |
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OML
OLOML
OML - Old Mutual plc - 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
OLD MUTUAL plc
Issuer code: OLOML
JSE Share code: OML
NSX share code: OLM
ISIN: GB0007389926
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 NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE
SCHEME
On 1 April 2011, 6,578 Nedbank Group Limited shares vested 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 rules of the 2008 Matched Share Scheme.
These shares vested as a result of Mr Brown remaining an employee of Nedbank
Group Limited throughout the vesting period. A further 6,578 Nedbank Group
Limited shares held under award under the 2008 Matched Share Scheme lapsed as
a result of the pre-determined Nedbank Group Limited performance targets for
the period 2008 to 2010 not being met.
On 4 April 2011, Mr Brown acquired on the open market, and committed, 14,817
Nedbank Group Limited shares to the 2011 Matched Share Scheme at a price of
R141.72 per share.
10,584 of these shares were committed by Mr Brown under the compulsory bonus
deferral scheme introduced by the Nedbank Group Limited Remuneration Committee
in 2009, under which deferred amounts could be invested in the Matched Share
Scheme. The deferred amount would be forfeited if Mr Brown were to resign
before the end of the deferral period, or if in the sole opinion of the
Nedbank Group Limited Board, material irregularities or misrepresentation of
financial results came to light during the deferral period.
4,233 of these shares were committed by Mr Brown in respect of his voluntary
participation in the Matched Share Scheme, under which up to 50% of his after-
tax bonus could be used to acquire shares in Nedbank Group Limited. Mr Brown
may dispose of these shares at any time prior to the vesting date of 1 April
2014, but this would cancel his participation in the Scheme in respect of
these shares. On the vesting date, 50% of the shares still held in trust in
respect of Mr Brown`s portfolio would be matched on a one-for-one basis if he
were to remain in the employ of Nedbank Group Limited at that time, and a
further 50% of the shares still held in trust on vesting date would be matched
on a one-for-one basis if a predetermined Nedbank Group Limited performance
target for the period 2011 to 2013 was met.
Enquiries
External Communications
Patrick Bowes +44 (0)20 7002 7440
Investor Relations
Deward Serfontein SA +27 (0)82 810 5672
Aleida White UK +44 (0)20 7002 7287
Media
William Baldwin-Charles +44 (0)20 7002 7133
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 to more than
15 million customers in Europe, the Americas, Africa and Asia. Old Mutual plc
is listed on the London Stock Exchange and the Johannesburg Stock Exchange,
among others.
In the year ended 31 December 2010, the Group reported adjusted operating
profit before tax of GBP1.5 billion (on an IFRS basis) and had GBP309 billion
of funds under management, from core operations.
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Ref 35/11
6 April 2011
Sponsor:
Merrill Lynch SA (Pty) Limited
Date: 06/04/2011 12:30:01 Produced by the JSE SENS Department.
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