Director/PDMR Shareholding

RNS Number : 6408C

Old Mutual PLC

09 March 2011

 



Ref /11

9 March 2011

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

GRANT OF RESTRICTED SHARES TO A PDMR

The following restricted share awards were granted to Mr M W T Brown, Chief Executive of Nedbank Group Limited and a member of the Group Executive Committee of Old Mutual plc, on 7 and 8 March 2011, under the terms of the Nedbank Group (2005) Share Option, Matched Share and Restricted Share Scheme:

Grant Date	Type of shares	Vesting Criteria	Number of Restricted shares granted	Value
7 March 2011	Nedbank Group ordinary shares	Performance-based	23,357	R2,999,973.08
8 March 2011	Nedbank Group ordinary shares	Time-based	23,357	R2,999,973.08

The restricted shares were granted at the volume weighted average price (R128.44) for the three trading days ending 2 March 2011 at no cost to Mr Brown and vesting of these shares, which is due to occur on the third anniversary of award, is subject to time-based and performance-based vesting criteria as indicated above.

Mr Brown now holds 326,027 restricted shares, granted under the Nedbank Group (2005) share option, matched share and restricted share scheme and 63,883 Nedbank Group Limited Ordinary shares, of which 4,895 shares have been committed in respect of the compulsory bonus deferral scheme and 28,557 shares have been committed in respect of the Matched Share Scheme.

Enquiries

External Communications
Patrick Bowes		[phone]
Investor Relations
Deward Serfontein	SA	[phone]
Aleida White	UK	[phone]
Media
William Baldwin-Charles		[phone]

Notes to Editors

Old Mutual

Old Mutual plc is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to 15 million customers in Europe, the Americas, Africa and Asia.  Old Mutual plc is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others.

In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £309 billion of funds under management, from core operations, at the year end.  For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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