22nd Apr 2009 16:30
Ref 31/09
22 April 2009
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS IN ACCORDANCE WITH RULE 3.1.4R OF THE DISCLOSURE AND TRANSPARENCY RULES
THE NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE SCHEME
On 20 April 2009, Mr T Boardman, Chief Executive of Nedbank Group Limited and a member of the Group Executive Committee of Old Mutual plc committed 21,100 Nedbank Group Limited shares to the 2009 Matched Share Scheme.
The Matched Share Scheme allows for voluntary participation, in that up to 50% of an employee's after-tax bonus may be used to acquire shares in the company. The employee can also commit shares already owned by them up to an equivalent value of 50% of his or her after-tax bonus. The employee may dispose of these shares at any time prior to the vesting date, which will cancel their participation in the Scheme in respect of these shares. On the day following three years after the inception date (the Vesting Date), if the employee remains in the employ of Nedbank Group Limited, 50% of the shares still held in trust in respect of the participant's portfolio will be matched on a one-for-one basis, and a further 50% of the shares held in trust in respect of the participant's portfolio will be matched on a one-for-one basis if a predetermined Nedbank Group Limited performance target for the period 2009 to 2011 is met.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com
Enquiries
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Investor Relations |
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Aleida White |
UK |
+44 (0)20 7002 7287 |
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Deward Serfontein |
SA |
+27 (0)82 810 5672 |
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Media |
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Matthew Gregorowski |
UK / SA |
+44 (0)20 7002 7133 |
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Brian Cattell (Finsbury) |
UK |
+44 (0)20 7251 3801 |
Notes to Editors
Old Mutual
Old Mutual plc is an international savings and wealth management company based in the UK. Originating in South Africa in 1845, the group has a portfolio of businesses offering life assurance, asset management, banking and general insurance services in over 40 countries in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.
In the year ended 31 December 2008, the group reported adjusted operating profit of £1.0 billion (on an IFRS basis) and had £265 billion of funds under management at the year end. The Company has approximately 55,000 employees.
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Old Mutual PLC