28th Feb 2005 07:30
Old Mutual PLC27 February 2005 Old Mutual plc Directors' interests in shares in Old Mutual plc (the "Company") The following options over shares in the Company, which were granted on 4 March2002 under the Company's executive share option scheme (the "scheme"), lapsedtoday, as the South African element of the performance condition (relating togrowth in the Company's earnings per share ("EPS") between 2001 and 2004 inRands) was not fulfilled. This represents 50% of the original grant made on 4March 2002: Director Number of shares lapsed Exercise priceJ V F Roberts 357,000 95.25pJ H Sutcliffe 524,950 95.25p The UK element of the performance condition was met in full and as a result ofthis, the following options over shares in the Company will vest to theparticipants on the third anniversary of the date of grant, namely 4 March 2005: Director Number of shares vested Exercise price Period exercisableJ V F Roberts 357,000 95.25p 04.03.05 - 04.03.08J H Sutcliffe 524,950 95.25p 04.03.05 - 04.03.08 The total numbers of shares now held under option by the above directors underthe Scheme (following the lapse of the above grants) are as follows: Director Total shares under option under the SchemeJ V F Roberts 1,806,824J H Sutcliffe 2,629,253 The following matching awards made on 5 March 2002 under the Company'sRestricted Share Plan, relating to investment by the director concerned of hisbonus for the year ended 31 December 2001 in shares in the Company, also lapsedtoday because the South African element of the performance condition (relatingto growth in the Company's EPS between 2001 and 2004 in Rands) was notfulfilled. This represents 50% of the original award made on 5 March 2002. Director No. of lapsed shares under the matching awardJ V F Roberts 39,178J H Sutcliffe 68,631 The UK element of the performance condition was met in full and as a result ofthis, the following matching awards made on 5 March 2002 under the Company'sRestricted Share Plan, relating to investment by the director concerned of hisbonus for the year ended 31 December 2001 in shares in the Company will bereleased to the director concerned on 5 March 2005: Director No. of shares to be released under the matching awardJ V F Roberts 39,179J H Sutcliffe 68,631 Following the above lapses and releases of restricted shares, the total numberof shares contingently held under the Restricted Share Plan by the directorsconcerned will be as follows: Director No. of Restricted No. of Restricted Shares Total Shares awarded under the bonus on joining matching arrangementJ V F Roberts 50,200 104,846 155,046J H Sutcliffe nil 239,842 239,842 28 February 2005 ENQUIRIES: Old Mutual plc UKMiranda Bellord +44 (0) 20 7002 7133 Old Mutual plc SANad Pillay +27 (0) 21 504 8026 For further details about Old Mutual plc visit www.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Old Mutual PLC