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Notification of transactions of directors, persons discharging managerial responsibilities or connected persons
SABMiller plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
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 31 May 2016 that it had on 31 May 2016 released ordinary shares in the Company
to directors and persons discharging managerial responsibility (PDMRs), as summarised in the table
below.
The shares released to directors and PDMRs follow the conclusion of the five year vesting period and
subsequent testing of the performance condition for value share awards made in 2011 under the
SABMiller plc Executive Share Award Plan 2008. The awards were 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 2011 to 31 March 2016. For this period, SABMiller's
TSR was 114.963%, compared with 102.058% for the median of the comparator group. This
represents an out-performance of the median by 12.905%, meaning that an additional £4,321 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 2011 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.
The shares were released to the PDMRs on 31 May 2016, with sales of shares to meet tax and other
withholding obligations being effected on the same day as shown in the table below.
Name of PDMR Value shares Deferred Additional Shares sold Shares
crystallised shares shares retained
and released released on released on
31 May 2016 31 May 2016 31 May 2016
A J Clark* 49,691 - - 22,854 26,837
D J De Lorenzo* 21,605 - - - 21,605
M J Bowman 30,247 - - 12,946 17,301
S M Clark 21,605 - - 8,861 12,744
J Davidson 21,605 - - 10,155 11,450
N T Fell 25,926 - - 12,186 13,740
C A van Kralingen 32,407 - - 15,232 17,175
K Lippert - 15,823 270 6,687 9,406
A Mervis 22,901 3,038 52 10,397 15,594
*Director
The price per share sold on 31 May 2016 was £42.744321
Date of transactions: 31 May 2106
Place of transactions: London, England
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 2016
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Date: 01/06/2016 12:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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