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Directors Dealings
SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483
Directors Dealings
Notification of transactions of directors, persons discharging managerial responsibilities or
connected persons in accordance with DTR 3.1
The independent trustee of the SABMiller plc Employees' Benefit Trust (the EBT) notified
SABMiller plc (the Company) on 20 March 2015 that it had on 20 March 2015 exercised its
discretion and released ordinary shares in the Company to a person discharging managerial
responsibility (PDMR), as summarised in the table below.
These shares relate to conditional awards of performance shares made in 2010 under the
SABMiller plc Executive Share Award Plan 2008. These awards are only capable of vesting if
the Company's Total Shareholder Return (TSR) exceeds the median TSR of a comparator
group over a five year performance period. No shares vest for median performance but for
every £10 million of additional shareholder value created in excess of the median (being the
% outperformance of the median multiplied by SABMiller's market capitalisation at the start
of the performance period) a fixed number of shares will vest. These awards are subject to
testing against the performance condition on the fifth anniversary of the date of grant, but
participants may request the Remuneration Committee (the Committee) at its discretion to
recommend to the trustee of the EBT the early release of some or all of the shares
comprised in their award after three years. The PDMR named below requested the
Committee in March 2015 to consider the release of the number of shares shown in the
table below, and the Committee after due consideration agreed so to recommend to the
trustee of the EBT.
In accordance with the terms of the awards, the number of shares to be released was
calculated by reference to the Company's TSR performance against its comparator group for
the period from 1 April 2010 to 28 February 2015. For this period, SABMiller's TSR was
118.611%, compared with 80.866% for the median of the comparator group. This
represents an out-performance of the median by 37.745%, meaning that an additional
£10,473 million of shareholder value in excess of the median was created over this period.
One half of the shares were released to the PDMR on 20 March 2015, with sales of shares
being effected on the same day as shown in the table below. The release of the remaining
shares has been deferred and they will be released on 31 May 2015, when the award
matures in full. There is no opportunity for these deferred shares to be retested against any
future TSR out-performance, and the deferred shares remain subject to forfeiture under
certain circumstances should the PDMR's employment terminate before 31 May 2015.
Name of Shares Shares Shares Shares
PDMR released on sold retained deferred
20 March until 31 May
2015 2015
S. M. Clark 26,182 26,182 0 26,183
Price per share for shares sold on 20 March 2015: £36.662681
Date of transactions: 20 March 2015
Place of transactions: London, England
Stephen Shapiro
Group Company Secretary and Deputy General Counsel
SABMiller plc
23 March 2015
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd
Date: 23/03/2015 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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