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Notification of transactions of directors, persons discharging managerial responsibilities or connected persons
SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483
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 18 December 2013 that it had on 18 December 2013 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 on 1 June 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 December 2013 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 30 November 2013. For this period, SABMiller's TSR was 96.976%, compared with 57.402%
for the median of the comparator group. This represents an out-performance of the median by
39.574%, meaning that an additional £10,980 million of shareholder value in excess of the median
was created over this period.
One third of the shares were released to the PDMR on 18 December 2013, with sales of shares being
effected on the same day as shown in the table below. The release of two-thirds of the shares has
been deferred and they will be released in two further equal tranches over the remainder of the five
year performance period. 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 participant's employment terminate before the fifth anniversary of the date
of the original award.
Name of Shares Shares Shares Shares Shares
PDMR released on sold retained deferred until deferred until
18 December 1 June 2014 1 June 2015
2013
N J Adami 83,448 27,816 0 27,816 27,816
Price per share for shares sold on 18 December 2013: £30.20
Date of transaction: 18 December 2013
Place of transactions: London, England
John Davidson
General Counsel and Group Company Secretary
SABMiller plc
18 December 2013
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 18/12/2013 05:17:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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