Share interests of persons discharging managerial responsibilities (PDMRs)
Old Mutual plc (the Company) announces the following changes in share
interests of its PDMRs.
1. Release of shares to Executive Directors under the Old Mutual
Restricted Share Plan
The following bonus matching awards, granted on 3 March 2004 under the
Company's Restricted Share Plan (RSP), relating to investment by Mr
Roberts and Mr Sutcliffe of some or all of their net cash incentives for
the year ended 31 December 2003 in shares in the Company, were released
on 5 March 2007 as a result of the successful achievement of EPS-based
performance targets:
Executive No. of shares No. of shares sold Sale No. of shares
Director released under to cover income price retained
the matching tax, employee
award National Insurance
Contribution
liabilities and
share dealing
costs
J V F Roberts 35,695 14,686 £1.64177 21,009
J H Sutcliffe 83,989 34,557 £1.64177 49,432
2. Option vesting to Executive Directors under the Old Mutual Share
Option and Deferred Delivery Plan (SOP)
The following options vested to Mr Roberts and Mr Sutcliffe on 3 March
2007 as a result of the successful achievement of EPS-based performance
targets:
Executive Approved option Unapproved Exercise price Expiry Date
Director shares vested option shares
vested
J V F Roberts 120 661,298 £0.9525 2 March 2010
J H Sutcliffe - 944,882 £0.9525 2 March 2010
3. Executive Directors’ interests in Old Mutual plc ordinary shares and
employee share plans
The total numbers of shares in the Company held under option under the
SOP and the Old Mutual UK Sharesave Plan (SAYE) by Mr Roberts and Mr
Sutcliffe are now as follows:
Executive Director Total no. of shares No. of unvested No. of vested
under option option shares option shares
J V F Roberts 2,359,666 552,842 1,806,824
J H Sutcliffe 3,401,838 807,367 2,594,471
The total numbers of shares in the Company contingently held under the
RSP by Mr Roberts and Mr Sutcliffe are now as follows:
Executive Director No. of Restricted Shares No. of Restricted Shares in
under the bonus matching respect of deferred short-
arrangement term incentives
J V F Roberts 292,514 185,098
J H Sutcliffe 526,936 266,738
The total numbers of shares in the Company in which the directors
concerned (together with their connected persons, for the purposes of
section 346 of the UK Companies Act 1985) are now beneficially
interested (excluding the RSP awards described above which have not yet
vested and all unexercised share option shares) are as follows:
Executive Director Old Mutual plc shares
J V F Roberts 583,552
J H Sutcliffe 1,368,403
4. Option vesting under the SOP to other PDMRs
The following options vested (all with an exercise price of £0.9525 per
share) to PDMRs on 3 March 2007 as a result of the successful
achievement of EPS-based performance targets:
PDMR Role of PDMR Approved option Unapproved Expiry Date shares vested option shares
vested
H Askari CEO, Asia- - 472,441 2 March 2010
Pacific
G Barker Chief Executive, - 355,012 2 March 2010
Old Mutual
Financial
Network (US)
R M Head Group Director, - 433,071 2 March 2010
Southern Africa
M C Murray Company - 45,473 2 March 2010
Secretary
M H Newman Director, Group 120 53,030 2 March 2010
Corporate
Affairs
S F Powers Chief Executive, - 532,518 2 March 2010
Old Mutual (US)
5. Exercise of an option by a PDMR
Mr Askari exercised the following options under the SOP on 5 and 6 March
2007:
PDMR Date of Approved Unapproved Exercise No. of No. of
exercise option option price shares sold shares
shares shares retained
exercised exercised
H Askari 5 March 07 - 486,958 £0.8625 - 486,958
H Askari 6 March 07 34,782 - £0.8625 - 34,782
6. Vesting of Deferred Delivery Shares under the SOP to PDMRs
The following deferred delivery awards vested to Mr Bicket and Mr
Hanratty on 3 March 2007 as a result of the successful achievement of
EPS-based performance targets:
PDMR Role of PDMR Deferred Delivery Award price Expiry Date
Shares vested
N Bicket Director of the 47,700 R11.77 2 March 2010
CEO’s office
P Hanratty Managing Director, 648,365 R11.77 2 March 2010
Old Mutual South
Africa
7. Net settlement of Deferred Delivery Awards by PDMRs
Deferred delivery awards held under the SOP were net settled by PDMRs as
follows:
PDMR No. of Original Award price Date of net Net
shares net grant date (Escalated settlement settlement
settled where price
applicable)
N Bicket 72,600 4 March 2002 R15.15 1 March 2007 R24.42
N Bicket 142,507 26 February R11.15 1 March 2007 R24.42
2003
P Hanratty 175,000 3 March 2004 R11.77 6 March 2007 R24.00
8. Net settlement of a Restricted Share Award by a PDMR
Mr Bicket net settled the following restricted share award under the RSP
on 1 March 2007:
PDMR No. of shares net Original grant date Net settlement price
settled
N Bicket 28,502 26 February 2003 R24.42
9. Vesting of Restricted Share Awards to PDMRs
The following restricted share awards vested to PDMRs on 5 March 2007:
PDMR No. of shares No.of shares sold Sale price No. of shares
vested retained
G Barker 65,648 26,352 £1.64177 39,296
N Bicket* 42,930 - - 42,930
P Hanratty* 64,837 - - 64,837
M H Newman 42,519 17,494 £1.64177 25,025
M C Murray 36,377 16,377 £1.64177 20,000
S F Powers 123,234 51,631 £1.64177 71,603
* Mr Bicket and Mr Hanratty have not yet taken delivery of their
restricted shares that vested on 5 March 2007.
10. PDMRs’ interests in Old Mutual plc ordinary shares and employee
share plans
The total numbers of shares in the Company held under option under the
SOP and SAYE by the PDMRs detailed below are now as follows:
PDMR Total no. of shares No. of unvested No. of vested option
under option option shares shares
H Askari 472,441 - 472,441
G Barker 1,400,346 255,579 1,144,767
N Bicket 51,725 51,725 -
P Hanratty 159,484 159,484 -
R M Head 942,445 509,374 433,071
M C Murray 176,956 81,483 95,473
M H Newman 497,331 6,111 491,220
S F Powers 3,424,320 - 3,424,320
The total numbers of shares in the Company held as deferred delivery
awards under the SOP by the PDMRs detailed below are now as follows:
PDMR Total no. of deferred delivery No. of vested deferred
shares delivery shares
N Bicket 47,700 47,700
P Hanratty 473,365 473,365
The total numbers of shares in the Company contingently held under the
RSP by the PDMRs detailed below are now as follows:
PDMR Total restricted shares No. of vested No. of unvested
restricted shares restricted shares
H Askari 144,164 - 144,164
G Barker 99,217 - 99,217
N Bicket 65,418 42,930 22,488
P Hanratty 219,757 108,679 111,078
R M Head 146,082 - 146,082
M C Murray 43,755 - 43,755
M H Newman 57,324 - 57,324
S F Powers 1,329,517 - 1,329,517
The total numbers of shares in the Company held under option under the
OMSA Management Incentive Share Plan (MISP) by the PDMRs detailed below
are as follows:
PDMR Total no. of shares under No. of unvested option shares
option
N Bicket 55,962 55,962
P Hanratty 181,871 181,871
The total numbers of restricted shares in the Company held under the
MISP by the PDMRs detailed below are as follows:
PDMR Total no. of shares under award No. of unvested shares
N Bicket 23,073 23,073
P Hanratty 94,279 94,279
The total numbers of shares in the Company in which the PDMRs below,
(together with their connected persons, for the purposes of section 346
of the UK Companies Act 1985) are beneficially interested is as follows
(excluding non-vested RSP awards and unexercised shares held under
option):
PDMR Old Mutual plc shares
H Askari 540,948
N Bicket 800
P Hanratty 1,000
R M Head 311,307
M C Murray 120,000
M H Newman 42,675
S F Powers 445,532
11. PDMR’s Option lapse under the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
On 22 February 2007, the following options over shares in Nedbank Group
Limited, in favour of Mr Boardman, Chief Executive of Nedbank Group
Limited, lapsed as a result of the performance targets attached to the
options not being met. These options were due to vest on 1 April 2007.
PDMR Original grant date Option shares lapsed
T A Boardman 1 April 2003 10,000
T A Boardman 1 April 2003 4,167
12. Option grant to a PDMR under the Nedbank Group (2005) Share Option,
Matched Share and Restricted Share Scheme
The following option over shares in Nedbank Group Limited was granted by
Nedbank Group Limited to Mr Boardman on 27 February 2007:
PDMR Option shares Exercise price Vesting date Expiry Date
granted
T A Boardman 72,765 R144.30 28 February 28 February 2012
2010
The total number of Nedbank Group Limited shares held by Mr Boardman
under option under the Nedcor Group (1994) Employee Incentive Scheme and
the Nedbank Group (2005) Share Option, Matched Share and Restricted
Share Scheme is 695,257, of which 152,492 have vested.
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
balanced portfolio of businesses offering asset management, life
assurance, banking and general insurance services in over 40 countries,
primarily South Africa, Europe and the United States. Old Mutual is
listed on the London, Johannesburg and Stockholm stock exchanges, among
others.
By conducting its business worldwide under its core values of integrity,
respect and accountability, Old Mutual aspires to push beyond boundaries
to drive value for all its stakeholders.
In the year ended 31 December 2006, the group reported an increase in
adjusted operating profit of 16% to £1.4 billion (IFRS basis) and had
£239 billion of funds under management. The Company has approximately
53,000 employees.
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Enquiries
Investor Relations
Malcolm Bell UK +44 (0)20 7002 7166
Deward Serfontein SA +27 (0)21 509 8709
Media
James Crampton UK +44 (0)20 7002 7133
Nad Pillay SA + 27 (0)21 504 8026
Share interests of persons discharging managerial responsibilities (PDMRs)
| Source: Old Mutual plc
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