Wrap Text
Director’s Dealings in Shares
SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483
Director’s Dealings in Shares
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 (EBT) notified
SABMiller plc (the Company) on 1 June 2015 that it had on 29 May 2015 released ordinary
shares in the Company to persons discharging managerial responsibility (PDMRs), as
summarised in the table below.
The shares released to Mr Clark follow the conclusion of the five year vesting period and
subsequent testing of the performance condition for value share awards made to Mr Clark
in 2010 under the SABMiller plc Executive Share Award Plan 2008. The award was only
capable of vesting if the Company's Total Shareholder Return (TSR) exceeded 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. The
award was subject to automatic testing against the performance condition at the conclusion
of the vesting period. In accordance with the terms of the award, the number of shares
released was calculated by reference to the Company's TSR performance against its
comparator group for the period from 1 April 2010 to 31 March 2015. For this period,
SABMiller's TSR was 120.721%, compared with 84.669% for the median of the comparator
group. This represents an out-performance of the median by 36.052%, meaning that an
additional £10,003 million of shareholder value in excess of the median was created over
this period.
The release of deferred shares follows the conclusion of the deferral period for deferred
shares associated with value share awards made in 2010 under the SABMiller plc Executive
Share Award Plan 2008 which had been crystallised before the conclusion of the five year
vesting period. As these shares are no longer at risk of forfeiture, they have automatically
been released.
Participants were entitled to receive a notional dividend on their deferred shares, calculated
by reference to dividends actually paid by the Company during the deferral period, to be
satisfied in the form of additional shares, subject to taxation, once the deferred shares were
free from forfeiture risk and finally released to the participants.
Name of PDMR Value Deferred Additional Shares sold Shares
shares shares shares retained
crystallised released on released on
and 29 May 29 May
released on 2015 2015
29 May
2015
A J Clark* 115,034 - - 50,838 64,196
M J Bowman - 22,307 917 9,940 13,284
S M Clark - 26,183 - 26,183 -
J Davidson - 18,329 450 8,827 9,952
N T Fell - 19,120 786 9,356 10,550
C A van Kralingen - 23,900 982 11,695 13,187
A Mervis - 23,073 851 9,570 14,354
*Director
The price per share sold on 29 May 2015 was £35.74.
Name of contact and telephone number for queries
Bill Warner: 01483 264268
Name of duly authorised officer of issuer responsible for making notification
Stephen Shapiro, Group Company Secretary
1 June 2015
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 01/06/2015 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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