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Dealings 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 2016
The following information is disclosed in respect of the vesting of Nedbank Group restricted shares
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 are now entitled to 96.1% of
the restricted shares allocated with performance-based vesting criteria on 17 March 2016, which
vested on 18 March 2019. The Company Secretary is now entitled to 97.9% of the restricted shares
allocated with performance-based vesting criteria on 17 March 2016, and 100% of the restricted
shares allocated with time-based vesting criteria on 18 March 2016, which vested on 18 and 19 March
2019 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 the Company Secretary
was awarded restricted shares with both performance-based and time-based vesting criteria.
The restricted shares were 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): 18 March 2019
Vesting price per share: R261.85
Number of securities: 68 088
Total value: R17 828 842.80
Nature of transaction: 96.1% 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: 17 March 2016
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: RK Morathi
Capacity: Executive Director
Date of transaction (vesting date): 18 March 2019
Vesting price per share: R261.85
Number of securities: 37 826
Total value: R9 904 738.10
Nature of transaction: 96.1% 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: 17 March 2016
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: MC Nkuhlu
Capacity: Executive Director
Date of transaction (vesting date): 18 March 2019
Vesting price per share: R261.85
Number of securities: 44 132
Total value: R11 555 964.20
Nature of transaction: 96.1% 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: 17 March 2016
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: J Katzin
Capacity: Company Secretary
Date of transaction (vesting date): 18 March 2019
Vesting price per share: R261.85
Number of securities: 1 541
Total value: R403 510.85
Nature of transaction: 97.9% 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: 17 March 2016
Nature of trade: Off market
Extent of interest: Direct beneficial
Name: J Katzin
Capacity: Company Secretary
Date of transaction (vesting date): 19 March 2019
Vesting price per share: R261.29
Number of securities: 1 049
Total value: R274 093.21
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: 18 March 2016
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 17 March 2016, the following restricted
Nedbank Group ordinary shares held by the executive directors and Company Secretary of Nedbank
Group and Nedbank Limited were forfeited on 18 March 2019:
Name Number of Notional value Total notional Determination
restricted shares of loss per value lost date
forfeited share on
forfeiture
MWT Brown 2 763 R261.85 R723 491.55 18 March 2019
RK Morathi 1 535 R261.85 R401 939.75 18 March 2019
MC Nkuhlu 1 790 R261.85 R468 711.50 18 March 2019
J Katzin 33 R261.85 R8 641.05 18 March 2019
---
The required prior written clearance was obtained when the awards were initially granted during
2016.
Sandton
20 March 2019
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: 20/03/2019 02:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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