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NEDBANK GROUP LIMITED - Vesting of shares to executive directors and prescribed officers: 2017 matched share scheme

Release Date: 12/05/2020 15:33
Code(s): NED     PDF:  
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Vesting of shares to executive directors and prescribed officers:  2017 matched share scheme

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 TO EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS: 2017 MATCHED SHARE SCHEME

The following information is disclosed in respect of the vesting of Nedbank Group ordinary shares to executive
directors and prescribed officers of Nedbank Group and Nedbank Limited.

This voluntary announcement confirms that these shares have vested in terms of the 2017 voluntary bonus share
scheme (VBSS). This is not classified as a ‘dealing’ in terms of JSE Listings Requirements.

In terms of the VBSS, up to 50% of an employee’s total after-tax bonus (less any amount already deferred under
Nedbank Group’s compulsory bonus deferral scheme) could be used to acquire shares in Nedbank Group which would
then be committed into the Matched Share Scheme for a period of three years. Alternatively, the employee could
commit shares already owned by them up to an equivalent amount of 50% of the employee’s total after-tax bonus
less any amount already deferred under the compulsory bonus deferral scheme. The employee could dispose of these
shares at any time prior to the end of the deferral period, which would cancel their participation in the scheme in
respect of those shares and render them ineligible to qualify for any matching of shares.

Participants are entitled to the dividends paid on the shares owned by them committed into the VBSS but no rights to
dividends accrue to Participants in respect of the Matched Shares unless and until the requisite Matched Shares are
delivered to the Participant at the end of the three year period.

On the vesting date (the day following three years after the inception date), 50% of the shares still held in trust in
respect of the participant’s portfolio would be matched on a one-for-one basis if the person continued in the employ
of the company throughout the vesting period. A further 50% of the shares held on vesting date would be matched
on a one-for-one basis if the predetermined company performance target for the period 2017 to 2019 was met.

Name:                    MWT Brown
Capacity:                Chief Executive
Date of transaction:     9 May 2020
Price per share:         R97.28
Number of securities:    1 249 (100% of 1 249 VBSS shares held in trust)
Total value:             R121 502,72
Nature of transaction:   Vesting of shares in terms of participation in 2017 voluntary bonus share scheme
Inception date:          8 May 2017
Vesting date:            9 May 2020
Nature of trade:         Off market
Extent of interest:      Direct beneficial
Taxable gain:            R121 502,72

                                                           ---

Name:                    RK Morathi
Capacity:                Chief Financial Officer
Date of transaction:     9 May 2020
Price per share:         R97.28
Number of securities:    1 249 (100% of 1 249 VBSS shares held in trust)
Total value:             R121 502,72
Nature of transaction:   Vesting of shares in terms of participation in 2017 voluntary bonus share scheme
Inception date:          8 May 2017
Vesting date:            9 May 2020
Nature of trade:         Off market
Extent of interest:      Indirect beneficial via The Motheo Trust
Taxable gain:            R121 502,72

                                                ---

Name:                    MC Nkuhlu
Capacity:                Chief Operating Officer
Date of transaction:     9 May 2020
Price per share:         R97.28
Number of securities:    1 249 (100% of 1 249 VBSS shares held in trust)
Total value:             R121 502,72
Nature of transaction:   Vesting of shares in terms of participation in 2017 voluntary bonus share scheme
Inception date:          8 May 2017
Vesting date:            9 May 2020
Nature of trade:         Off market
Extent of interest:      Direct beneficial
Taxable gain:            R121 502,72

                                                ---

Name:                    A Bosman
Capacity:                Group Managing Executive: CIB
Date of transaction:     9 May 2020
Price per share:         R97.28
Number of securities:    1 249 (100% of 1 249 VBSS shares held in trust)
Total value:             R121 502,72
Nature of transaction:   Vesting of shares in terms of participation in 2017 voluntary bonus share scheme
Inception date:          8 May 2017
Vesting date:            9 May 2020
Nature of trade:         Off market
Extent of interest:      Direct beneficial
Taxable gain:            R121 502,72

                                                ---

Name:                    I Ruggiero
Capacity:                Group Managing Executive: Nedbank Wealth
Date of transaction:     9 May 2020
Price per share:         R97.28
Number of securities:    1 249 (100% of 1 249 VBSS shares held in trust)
Total value:             R121 502,72
Nature of transaction:   Vesting of shares in terms of participation in 2017 voluntary bonus share scheme
Inception date:          8 May 2017
Vesting date:            9 May 2020
Nature of trade:         Off market
Extent of interest:      Direct beneficial
Taxable gain:            R121 502,72

The required prior written clearance was obtained for the executive directors when the awards were initially granted
during 2017.


Sandton
12 May 2020

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) Ltd

Date: 12-05-2020 03:33:00
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