LONDON, Sept. 10, 2002 (PRIMEZONE) -- Old Mutual plc has been informed, by a message received yesterday, of the following dealings in the ordinary shares of its 53% owned banking subsidiary, Nedcor Limited, by Mr. Richard Laubscher, who is CEO of Nedcor Limited and also an executive director of Old Mutual plc.
Date of transaction September 6, 2002 Nature of trade Shares purchased from the Nedcor Group (1994) Employee Share Purchase Trust on exercise of ten-year expiring options Number of shares 86,300 Purchase price R15.60 per share Date of transaction September 6, 2002 Nature of trade Shares purchased from the Nedcor Group (1994) Employee Share Purchase Trust on exercise of ten-year expiring options Number of shares 100,000 Purchase price R14.87 per share
The above share options were granted by Nedcor Limited to Mr. Laubscher in January 1992 and September 1992 respectively at the ruling market prices as part of standard allocations of options to staff.
Mr. Laubscher has indicated that he will be retaining the net shares purchased through the exercise of these options, having sold the following shares to settle some of the costs arising from the exercise:
Date of transaction September 9, 2002 Nature of trade Shares sold via a market intermediary on the JSE Securities Exchange South Africa Number of shares 43,500 Selling price R99.32 per share
The effect of the abovementioned share transactions may be summarised as follows:
Percentage of the issued shares of Nedcor Limited purchased 0.071% Percentage of the issued shares of Nedcor Limited sold 0.017% Total number of shares in Nedcor Limited held by Mr. Laubscher following the purchases and sale 375,047 Percentage of issued shares of Nedcor Limited represented by Mr. Laubscher's total holding 0.144%
A similar announcement relating to the above matters was made by Nedcor Limited to the JSE Securities Exchange South Africa yesterday.