| Mon 8 Apr 2002, 0:00 | | Old Mutual Plc - Directors' Share Interests |
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Old Mutual plc
ISIN CODE: GB0007389926
SHARE CODE: OML
ISSUER CODE: OLOML
Directors' share interests and result of third annual Sharesave invitation
Following the third annual invitation to eligible employees under the
Savings-Related Share Option Scheme (the "Sharesave scheme") of Old Mutual
plc (the "Company"), options were granted on 5 April 2002 over a total of
9,335,712 shares in the Company to 1,261 employees at an exercise price of
GBP0.83 per share.
As part of the grant, Mr J V F Roberts, Group Finance Director of the
Company, received an option over 11,445 shares at an exercise price of
GBP0.83 per share, exercisable between 1 June and 30 November 2005, and Mr J
H Sutcliffe, Chief Executive of the Company, received an option over 19,939
shares at an exercise price of GBP0.83 per share, exercisable between 1 June
and 30 November 2007. No payments were made by either of these directors or
by any of the other participants for the grant of these options, which are
exercisable out of the proceeds of a three or five year contractual savings
arrangement entered into by each optionholder. In connection with the new
grants, Mr Roberts surrendered his option granted in April 2001 pursuant to
the second annual Sharesave scheme invitation, over 7,876 shares at an
exercise price of GBP1.23 per share and Mr Sutcliffe surrendered his option
granted in April 2000 pursuant to the first annual sharesave scheme
invitation, over 15,538 shares at an exercise price of GBP1.086 pence per
share.
The Company has also been informed, by a notification received today, that
Mr M J Levett, non-executive Chairman of the Company, has today paid for and
taken delivery of the following shares in the Company pursuant to rights
granted under the Old Mutual Group Achievements ("OMGA") share incentive
scheme prior to demutualisation of the Group:
Date of No of Company Option No. of Company
original OMGA shares in the price shares out of
grant grant per the grant
share acquired today
01.01.97 507,816 ZAR9.17 10,800
15.05.97 706,428 ZAR9.17 706,428
Following the above acquisition of a total of 717,228 shares, Mr Levett
(together with his connected persons, for the purposes of section 346 of the
UK Companies Act 1985) now owns 1,051,870 shares in the Company, and also
has a contingent interest in a further 169,602 shares in the Company under
the terms of the Company's restricted share plan. He also has various other
outstanding rights under the OMGA share incentive scheme and the Group's
Share Option and Deferred Delivery Plan, as described in detail in the
Remuneration Report in the Company's report and accounts for the year ended
31 December 2001.
08 April 2002
Enquiries
M C Murray (+44 20 7569 0109)
Group Company Secretary
Old Mutual plc
