Mr J V F Roberts, group finance director of Old Mutual, has today (23 August 2004) had released to him under the terms of the company`s Restricted Share Plan 50 200 shares in the company. An award of 150 600 restricted shares was made to Mr Roberts on 8 September 2000 on terms that one-third of them would be released to him on each of the third, fourth and fifth anniversaries of his appointment to theboard of thecompany. The fourth anniversary of that appointment fell on 21 August 2004. Mr Roberts has agreed to discharge the tax and employee`s national insurance arising on the release of these shares to him out of his own resources. Following the above release of restricted shares, Mr Roberts (together with his connected persons, for the purposes of section 346 of the UK Companies Act 1985) now owns a total of 250 103 shares in the company. He also has a contingent interest in a further 233 403 shares in the company under the terms of the company`s Restricted Share Plan: these are, firstly, the balance of 50 200 shares under the Restricted Share Plan award made on 8 September 2000 mentioned above, and, secondly a total of 183 203 shares awarded under bonus matching arrangements applicable to the performance years ended 31 December 2001, 2002 and 2003, release of which is subject to the fulfilment of performance conditions.
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