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OLD MUTUAL PLC - The Old Mutual Wealth Joint Share Ownership Plan

Release Date: 23/06/2015 16:40
Code(s): OML     PDF:  
Wrap Text
The Old Mutual Wealth Joint Share Ownership Plan

       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL


       Ref 477/15


       23 June 2015


       THE OLD MUTUAL WEALTH JOINT SHARE OWNERSHIP PLAN

       This notification is made in accordance with DTR 3.1.4(a)
       On 17 June 2015, Mr Paul Feeney, Chief Executive of Old Mutual Wealth Management Limited
       ("OMWM"), a subsidiary of Old Mutual plc (the "Company"), who is a person discharging managerial
       responsibility (PDMR), was granted an award (the "Award") under the Old Mutual Wealth Joint Share
       Ownership Plan (the "Plan"). The Plan was introduced in 2013 to align OMWM senior management
       compensation with OMWM's key long-term strategic priorities. The Plan will reward success in
       achieving these objectives by linking awards to the growth in value of the OMWM business through
       quality and sustainable earnings.
       The Award has been granted over 111,024 shares in the capital of OMWM (the "OMWM Shares")
       with an initial value of £2,125,000. Under the terms of the Plan the shares will be owned jointly by Mr
       Feeney and the trustee of the Plan, with Mr Feeney’s interest limited to the growth in value of the
       shares over the initial value (the initial value being owned by the trustee). Mr Feeney’s interest has an
       estimated fair value at award of £384,625.
       The Award will normally vest at the end of a three year vesting period, subject to Mr Feeney's
       continued employment and the other terms of the Plan. At the vesting date Mr Feeney’s interest in
       the jointly owned OMWM Shares, to the extent they have vested under the Award and subject to the
       terms of the Plan agreement, will be exchanged for shares in the capital of the Company using
       existing shares purchased in the market, with an aggregate market value equal to the growth in value
       of the vested OMWM Shares between the grant of Award and vesting date.


       Enquiries
       External communications
       Patrick Bowes                    UK      +44 20 7002 7440
       Investor relations
       Dominic Lagan                    UK      +44 20 7002 7190
       Sizwe Ndlovu                     SA      +27 11 217 1163

       Media
       William Baldwin-Charles                  +44 20 7002 7133
                                                +44 7834 524833


       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd


       Joint Sponsor:
       Nedbank Capital




INVESTMENT | SAVINGS | INSURANCE | BANKING
       
       Notes to Editors
       
       Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in
       Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the
       London and Johannesburg Stock Exchanges, among others, since 1999.
       
       In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on
       an IFRS basis) and had £319 billion of funds under management from core operations.
       
       For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com




INVESTMENT | SAVINGS |INSURANCE | BANKING

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