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OML - Old Mutual Plc - Notification of transactions of directors, persons
discharging managerial responsibilities or connected persons in accordance
with Rule 3.1.4 of The Disclosure and Transparency Rules
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Old Mutual plc
Ref 27/12
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES OR CONNECTED PERSONS IN ACCORDANCE WITH RULE 3.1.4 OF THE
DISCLOSURE AND TRANSPARENCY RULES
THE NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE
SCHEME
On 2 April 2012, Mr M W T Brown, Chief Executive of Nedbank Group Limited
(Nedbank) and a member of the Group Executive Committee of Old Mutual plc,
committed 16,938 Nedbank shares to Nedbank`s 2012 Matched Share Scheme.
15,192 Nedbank ordinary shares were acquired at a price of R171.79 per share,
this being the average price of Nedbank shares between 20 and 29 March 2012.
These shares were committed by Mr Brown under the compulsory bonus deferral
scheme introduced by the Nedbank Remuneration Committee in 2010, under which
deferred amounts could be invested in the Matched Share Scheme described
above. The deferred amount would be forfeited should Mr Brown resign before
the end of the deferral period as well as in cases where, in the sole opinion
of the board of Nedbank, material irregularities or misrepresentation of
financial results come to light during the deferral period.
In addition, 1,746 shares were committed in respect of voluntary
participation in the Matched Share Scheme in terms of which Mr Brown could
commit shares already owned by him up to an equivalent value of 50% of his
after-tax bonus (less the amount already deferred under the compulsory
deferral scheme described above). Mr Brown may dispose of these shares at any
time prior to the vesting date of 1 April 2015, but this would cancel his
participation in the Scheme in respect of these shares. On the vesting date,
50% of the shares still held in trust in respect of Mr Brown`s portfolio will
be matched on a one-for-one basis if he remains employed by Nedbank at that
time and a further 50% of the shares held on the vesting date will be matched
on a one-for-one basis if a predetermined company performance target for the
period 2012 to 2014 is met.
THE NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE
SCHEME
On 31 March 2009 (the Inception Date), Mr Brown pledged 11,051 Nedbank
ordinary shares under the 2009 Matched Share Scheme, on the basis that on the
vesting date (the day following three years after the Inception Date) 50% of
the shares held in trust would be matched on a one-for-one basis if Mr Brown
remained employed by Nedbank and a further 50% of the shares would be matched
on a one-for-one basis if a predetermined Nedbank company performance target
was met.
Mr Brown remained employed by Nedbank on the vesting date, but the
predetermined Nedbank company performance target for the period 2009 to 2011
was not met, resulting in only 50% (5,526) of the shares being matched.
4 April 2012
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Enquiries
External Communications / Investor Relations
Patrick Bowes +44 (0)20 7002 7440
Kelly de Kock +27 (0)21 509 8709
Media
William Baldwin-Charles +44 (0)20 7002 7133
Notes to Editors
Old Mutual
Old Mutual is an international long-term savings, protection and investment
Group. Originating in South Africa in 1845, the Group provides life
assurance, asset management, banking and general insurance to more than 15
million customers in Europe, the Americas, Africa and Asia. Old Mutual has
been listed on the London and Johannesburg Stock Exchanges, among others,
since 1999.
In the year ended 31 December 2011, the Group reported adjusted operating
profit before tax of GBP1.5 billion (on an IFRS basis) and had GBP267 billion
of funds under management from core operations.
For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com
Date: 04/04/2012 16:01:01 Supplied by www.sharenet.co.za
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