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Dealing in securities by executive directors and company secretary: Vesting of restricted shares
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 AND COMPANY SECRETARY: VESTING
OF RESTRICTED SHARES PREVIOUSLY ALLOCATED IN 2015
The following information is disclosed in respect of the vesting of Nedbank Group ordinary
shares and options previously granted to the executive directors and the company secretary
of Nedbank Group and Nedbank Limited (‘Nedbank’) in terms of the Nedbank Group (2005)
Share Option, Matched Share and Restricted Share Scheme.
This voluntary announcement confirms only that the executive directors and the company
secretary are now entitled to 63.56% and 70.81% respectively, of the restricted shares
allocated with performance-based vesting criteria on 12 March 2015, and 100% of the
restricted shares allocated with time-based vesting criteria on 13 March 2015, which vested
on 13 and 14 March 2018 respectively. This is not classified as a ‘dealing’ in terms of JSE
Listings Requirements. The executive directors were awarded restricted shares with
performance-based vesting criteria only, and only the Company Secretary was awarded
restricted shares with both performance-based and time-based vesting criteria.
The restricted shares are issued at no cost to eligible employees and are fully taxable and
subject to the deduction of PAYE at the time of vesting. Participants are entitled to the
dividends paid on all restricted shares from the date the award is allocated.
Name: MWT Brown
Capacity: Chief Executive
Date of transaction (vesting date): 13 March 2018
Vesting price per share: R313.00
Number of securities: 32 306
Total value: R10 111 778.00
Nature of transaction: 63.56% vesting of performance-based
restricted shares in terms of participation in
the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
Inception date: 12 March 2015
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: RK Morathi
Capacity: Executive Director
Date of transaction (vesting date): 13 March 2018
Vesting price per share: R313.00
Number of securities: 17 396
Total value: R5 444 948.00
Nature of transaction: 63.56% vesting of performance-based
restricted shares in terms of participation in
the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
Inception date: 12 March 2015
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: MC Nkuhlu
Capacity: Executive Director
Date of transaction (vesting date): 13 March 2018
Vesting price per share: R313.00
Number of securities: 29 199
Total value: R9 139 287.00
Nature of transaction: 63.56% vesting of performance-based
restricted shares in terms of participation in
the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
Inception date: 12 March 2015
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: TSB Jali
Capacity: Company Secretary
Date of transaction (vesting date): 13 March 2018
Vesting price per share: R313.00
Number of securities: 7 475
Total value: R2 339 675.00
Nature of transaction: 70.81% vesting of performance-based
restricted shares in terms of participation in
the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
Inception date: 12 March 2015
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: TSB Jali
Capacity: Company Secretary
Date of transaction (vesting date): 14 March 2018
Vesting price per share: R306.00
Number of securities: 7 037
Total value: R2 153 322.00
Nature of transaction: 100% vesting of time-based restricted shares
in terms of participation in the Nedbank
Group (2005) Share Option, Matched Share
and Restricted Share Scheme
Inception date: 13 March 2015
Nature of trade: Off market
Extent of interest: Direct beneficial
As a result of the pre-determined corporate performance conditions not all being fully met
in respect of the performance-based restricted shares allocated on 12 March 2015, the
following restricted Nedbank Group ordinary shares held by the executive directors and
Company Secretary of Nedbank Group and Nedbank Limited were forfeited on 13 March
2018:
Name Number of Notional value Total notional Determination
restricted of loss per value lost date
shares forfeited share on
forfeiture
MWT Brown 18 520 R313.00 R5 796 760.00 13 March 2018
RK Morathi 9 972 R313.00 R3 121 236.00 13 March 2018
MC Nkuhlu 16 740 R313.00 R5 239 620.00 13 March 2018
TSB Jali 3 081 R313.00 R964 353.00 13 March 2018
The required prior written clearance for dealing in these shares has been obtained.
Sandton
14 March 2018
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) Limited
Date: 14/03/2018 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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