| Mon 2 Apr 2012, 14:15 | | NED - Nedbank Group - Dealings in Securities by Executive Directors and |
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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:
COMPULSORY AND VOLUNTARY BONUS DEFERRAL SCHEMES
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 2012 Matched
Share Scheme on 2 April 2012:
Name Number of shares committed Value @ R171,79
MWT Brown 15 192 R2 609 833,68
(Executive director)
GW Dempster 10 477 R1 799 843,83
(Executive director)
RK Morathi 6 636 R1 139 998,44
(Executive director)
GS Nienaber 1 309 R224 873,11
(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 20 March 2012 and 29 March 2012.
These shares are committed in terms of the compulsory bonus deferral scheme
introduced by the Nedbank Group Remuneration Committee in 2010, 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
2012 Matched Share Scheme on 2 April 2012:
Name Number of shares committed Value @ R171,79
GW Dempster 1 746 R299 945,34
(Executive director)
RK Morathi 1 746 R299 945,34
(Executive director)
GS Nienaber 1 746 R299 945,34
(Company secretary)
and the following Nedbank Group ordinary shares, previously acquired by the
individual below, have been committed by the undermentioned individual to the
2012 Matched Share Scheme on 2 April 2012:
Name Number of shares committed Value @ R171,79
MWT Brown 1 746 R299 945,34
(Executive director)
The Matched Share Scheme allows for voluntary participation in that up to 50%
of an employee`s after-tax bonus (less the amount already deferred under the
compulsory deferral scheme, if applicable) 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 (again, less the
amount already deferred under the compulsory deferral scheme if applicable).
The employee may dispose of these shares at any time prior to the vesting
date, being 1 April 2015 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 2012 to 2014 is met.
The required prior written clearance for the commitment of these shares and
participation in the Matched Share Scheme has been obtained.
Sandton
2 April 2012
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor in Namibia
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 02/04/2012 14:15:01 Produced by the JSE SENS Department.
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