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NEDBANK GROUP LIMITED - Vesting of shares and options granted to the company secretary in 2012

Release Date: 09/03/2018 15:00
Code(s): NED     PDF:  
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Vesting of shares and options granted to the company secretary in 2012

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”)

VESTING OF SHARES AND OPTIONS GRANTED TO THE COMPANY SECRETARY IN 2012 IN
TERMS OF THE NEDBANK EYETHU BLACK EXECUTIVE TRUST

The following information is disclosed in respect of the vesting of Nedbank Group ordinary
shares and options previously granted to the Company Secretary of Nedbank Group and
Nedbank Limited (‘Nedbank’).

This voluntary announcement confirms only that the Company Secretary is now entitled to
the final tranche of the 2012 award, having remained in the employ of Nedbank Group over
the vesting period, and this is not classified as a ‘dealing’ in terms of JSE Listings
Requirements.

Background:
In August 2005, Nedbank Group implemented a black economic empowerment transaction,
which was comprised of a number of schemes empowering a broad base of over 500 000
previously disadvantaged beneficiaries. 41 268 130 new ordinary shares in Nedbank Group
were issued for the purposes of this BEE transaction, which at the time equated to
approximately 9.47% of the Company’s issued share capital (post the issue of the shares)
and also equated to black ownership of 11.5% of the value of Nedbank Group’s South
African businesses.

The South African BEE transaction comprised of three groupings, namely:

-   the Black Business Partners Schemes and the Non-Executive Directors Scheme;
-   the Client Schemes and the Community Scheme; and
-   the Employee Schemes (including a Black Executive Scheme, Black Management
    Scheme, Broad-based Employee Scheme and the Evergreen Scheme).

Nedbank Eyethu Black Executive Trust:
The Nedbank Eyethu Black Executive Trust (‘BET’) manages and operates the Black Executive
Scheme referred to above. The trustees of the BET award Nedbank Group shares and grant
options on Nedbank Group shares to qualifying participants for retention and attraction
purposes. The entitlement of such executives to the shares and options is conditional upon
them remaining in the employ of Nedbank Group over the vesting period, during which 33%
of the shares awarded or options granted vest in each of years 4 and 5 and 34% in year 6.
The participants are identified from time to time by the Nedbank Group Remuneration
Committee on the recommendation of the Nedbank Group Executive Committee.
Vesting of 34% of the shares and options that were awarded to Thabani Jali on 8 March
2012:
20 000 Nedbank Group shares and 60 000 options (with a strike price of R161.88) were
granted to Thabani Jali, and the final tranche of 34% of this award now vests. Mr Jali holds
the position of Chief Governance and Compliance Officer, and was also appointed as
Company Secretary subsequent to this award being made.

The details of the vesting of the restricted shares and options are as follows:

        Name:                                    TSB Jali
        Capacity:                                Company Secretary
        Date of transaction (vesting date):      9 March 2018
        Vesting price per share:                 R309.00
        Number of securities:                    6 800
        Total value:                             R2 101 200.00
        Nature of transaction:                   Vesting of restricted shares in terms of
                                                 participation in the Nedbank Eyethu Black
                                                 Executive Trust
        Inception date:                          8 March 2012
        Nature of trade:                         Off market
        Extent of interest:                      Direct beneficial


        Name:                                    TSB Jali
        Capacity:                                Company Secretary
        Date of transaction (vesting date):      9 March 2018
        Strike price per share:                  R161.88
        Number of securities:                    20 400
        Total value:                             R3 302 352.00
        Nature of transaction:                   Vesting of options in terms of participation in
                                                 the Nedbank Eyethu Black Executive Trust
        Inception date:                          8 March 2012
        Nature of trade:                         Off market
        Extent of interest:                      Direct beneficial


Sandton
9 March 2018

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: 09/03/2018 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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