Sharenet Sites 
Sharenet Sites
Dealings in securities by executive directors: vesting of shares and options granted in 2009 and 2010
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”)
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS: VESTING OF SHARES AND OPTIONS
GRANTED IN 2009 AND 2010 IN TERMS OF THE NEDBANK EYETHU BLACK EXECUTIVE
TRUST
In terms of paragraphs 3.63 - 3.66 of the Listings Requirements of the JSE Limited, the
following information is disclosed in respect of the vesting of Nedbank Group ordinary
shares and options previously granted to executive directors of Nedbank Group and
Nedbank Limited (‘Nedbank’).
Background:
In August 2005, Nedbank Group implemented a black economic empowerment transaction,
which comprised of a number of schemes empowering a broad base of over 500 000
previously disadvantaged beneficiaries. 41 268 130 new ordinary shares in Nedbank Group
were issued for the purposes of this BEE transaction, which at the time equated to
approximately 9.47% of the Company’s issued share capital (post the issue of the shares)
and also equated to black ownership of 11.5% of the value of Nedbank Group’s South
African businesses.
The South African BEE transaction comprised of three groupings, namely:
- the Black Business Partners Schemes and the Non-Executive Directors Scheme;
- the Client Schemes and the Community Scheme; and
- the Employee Schemes (including a Black Executive Scheme, Black Management
Scheme, Broad-based Employee Scheme and the Evergreen Scheme).
Nedbank Eyethu Black Executive Trust:
The Nedbank Eyethu Black Executive Trust (‘BET’) manages and operates the Black Executive
Scheme referred to above. The trustees of the BET award Nedbank Group shares and grant
options on Nedbank Group shares to qualifying participants for retention and attraction
purposes. The entitlement of such executives to the shares and options is conditional upon
them remaining in the employ of Nedbank Group over the vesting period, during which 33%
of the shares awarded or options granted vest in each of years 4 and 5 and 34% in year 6.
The participants are identified from time to time by the Nedbank Group Remuneration
Committee on the recommendation of the Nedbank Group Executive Committee.
Vesting of 33% of the shares and options that were awarded to Raisibe Morathi on
3 March 2010:
As set out in the SENS announcement dated 3 March 2010, 20 000 Nedbank Group shares
and 60 000 options (with a strike price of R121,08) were granted to Raisibe Morathi, and the
second tranche of 33% of this award now vests.
The details of the vesting of the restricted shares and options are as follows:
Name: RK Morathi
Capacity: Chief Financial Officer
Date of transaction (vesting date): 4 March 2015
Vesting price per share: R249.95
Number of securities: 6 600
Total value: R1 649 670.00
Nature of transaction: Vesting of restricted shares in terms of
participation in the Nedbank Eyethu Black
Executive Trust
Inception date: 3 March 2010
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: RK Morathi
Capacity: Chief Financial Officer
Date of transaction: 4 March 2015 (vesting date)
Strike price per share: R121.08
Number of securities: 19 800
Total value: R2 397 384.00
Nature of transaction: Vesting of options in terms of participation in
the Nedbank Eyethu Black Executive Trust
Inception date: 3 March 2010
Nature of trade: Off market
Extent of interest: Direct beneficial
The required prior written clearance has been obtained.
---
Vesting of 34% of the shares and options that were awarded to Mfundo Nkuhlu on
3 March 2009:
12 000 Nedbank Group shares and 36 000 options (with a strike price of R75,74) were
granted to Mfundo Nkuhlu (previously Managing Executive, Nedbank Corporate and now
Chief Operating Officer and an executive director of Nedbank Group and Nedbank) on 3
March 2009, and the final tranche of 34% of this award now vests.
The details of the vesting of the restricted shares and options are as follows:
Name: MC Nkuhlu
Capacity: Chief Operating Officer
Date of transaction (vesting date): 4 March 2015
Vesting price per share: R249.95
Number of securities: 4 080
Total value: R1 019 796.00
Nature of transaction: Vesting of restricted shares in terms of
participation in the Nedbank Eyethu Black
Executive Trust
Inception date: 3 March 2009
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: MC Nkuhlu
Capacity: Chief Operating Officer
Date of transaction: 4 March 2015 (vesting date)
Strike price per share: R75.74
Number of securities: 12 240
Total value: R927 057.60
Nature of transaction: Vesting of options in terms of participation in
the Nedbank Eyethu Black Executive Trust
Inception date: 3 March 2009
Nature of trade: Off market
Extent of interest: Direct beneficial
The required prior written clearance has been obtained.
---
Sandton
6 March 2015
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Limited
Date: 06/03/2015 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
