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Dealings in securities: 2021 compulsory and voluntary bonus deferral schemes
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, PRESCRIBED OFFICERS AND COMPANY SECRETARY:
2021 COMPULSORY AND VOLUNTARY BONUS DEFERRAL SCHEMES
In terms of paragraphs 3.63 - 3.66 of the Listings Requirements of the JSE Limited, the following information is
disclosed in respect of dealings by the executive directors, prescribed officers and the company secretary of Nedbank
Group and Nedbank Limited.
The following shares have been committed by the executive directors, prescribed officers and the company secretary
to the 2021 Matched Share Scheme, whereby:
(a) in terms of the compulsory bonus share scheme, deferred bonus amounts are invested in the Matched Share
Scheme. The deferred amount will be forfeited should the employee resign and not be classified as a good
leaver before the end of the deferral period, as well as in cases where, in the sole opinion of the Nedbank
Group board, material irregularities or misrepresentation of financial results come to light during the deferral
period. In these instances, the employee also forgoes the right to matching on the deferred bonus amount
subject to forfeiture;
(b) in terms of the voluntary bonus share scheme, up to 50% of an employee’s total after-tax bonus (less any
amount already deferred under the compulsory bonus share scheme set out above) can be used to acquire
shares in Nedbank Group which are then committed into the Matched Share Scheme. Alternatively, the
employee can commit shares already owned by them up to an equivalent amount of 50% of the employee’s
total after-tax bonus less any amount already deferred under the compulsory bonus share scheme. The
employee can dispose of these shares at any time prior to the vesting date, which will cancel their
participation in the scheme in respect of those shares, and will render them ineligible to qualify for any
matching of shares.
The date of the transactions (off-market) was 31 March 2021 (the inception date) and the value of the shares was
determined using a weighted average price of Nedbank Group shares acquired between 25 March 2021 and 29 March
2021.
On the vesting date (the day following three years after the inception date), 50% of the shares still held in trust in
respect of the participant’s portfolio will be matched on a one-for-one basis if the person has remained in the employ
of the company throughout the vesting period. A further 50% of the shares held on vesting date may be matched on a
one-for-one basis if the predetermined company performance target for the period 2021 to 2023 is met.
Compulsory Bonus Share Scheme:
Name and Capacity No. of shares acquired on open Value @ R134.17 Extent of interest
market and committed to per share
scheme on behalf of participant
MWT Brown 14 347 R1 924 936.99 Indirect beneficial
Chief Executive
MH Davis 8 198 R1 099 925.66 Indirect beneficial
Executive Director
MC Nkuhlu 8 710 R1 168 620.70 Indirect beneficial
Executive Director
A Bosman 15 884 R2 131 156.28 Indirect beneficial
Prescribed Officer
I Ruggiero 6 661 R893 706.37 Indirect beneficial
Prescribed Officer
TG Sibiya 2 562 R343 743.54 Indirect beneficial
Prescribed Officer
CJ Thomas 7 788 R1 044 915.96 Indirect beneficial
Prescribed Officer
J Katzin 922 R123 704.74 Indirect beneficial
Company Secretary
In terms of the compulsory bonus share scheme, the executive directors, prescribed officers and company secretary
have no discretion in relation to the number of shares awarded nor the price at which such shares are awarded.
Employees are entitled to the dividends that are paid on the shares whilst held in trust.
Voluntary Bonus Share Scheme:
Name and Capacity No. of existing shares committed Value @ R134.17 Extent of interest
to scheme on behalf of per share
participant
MWT Brown 2 049 R274 914.33 Indirect beneficial
Chief Executive
Mfundo Nkuhlu 2 049 R274 914.33 Indirect beneficial
Executive Director
A Bosman 2 049 R274 914.33 Indirect beneficial
Prescribed Officer
Name and Capacity No. of shares acquired on open Value @ R134.17 Extent of interest
market and committed to per share
scheme on behalf of participant
I Ruggiero 2 049 R274 914.33 Indirect beneficial
Prescribed Officer
TG Sibiya 1 490 R199 913.30 Indirect beneficial
Prescribed Officer
The required prior written clearance for the share dealings has been obtained.
Sandton
8 April 2021
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Corporate and Investment Banking
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 08-04-2021 02:43:00
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