Prudential PLC Director/PDMR Shareholding (8866T)
22 Marzo 2023 - 12:20PM
UK Regulatory
TIDMPRU
RNS Number : 8866T
Prudential PLC
22 March 2023
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Anil Wadhwani
-------------------------- -------------------------------------------------
Reason for the notification
2
-----------------------------------------------------------------------------
a) Position/status Chief Executive Officer (PDMR)
-------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform or auctioneer
-----------------------------------------------------------------------------
a) Name Prudential plc
-------------------------- -------------------------------------------------
b) LEI 5493001Z3ZE83NGK8Y12
-------------------------- -------------------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a) Description of the Ordinary shares of 5 pence each
financial instrument,
type of instrument
GB0007099541
Identification code
-------------------------- -------------------------------------------------
b) Nature of the transaction Grant of share-based, cash-settled
option
In line with the announcement made
on 25 May 2022 Prudential plc entered
into an agreement on 8 March 2023
with Mr Wadhwani to replace unvested
awards forfeited as a consequence
of joining Prudential plc on 25 February
2023.
Under the agreement Mr Wadhwani has
been granted an option entitling
him to receive a cash amount equal
to the market value of a specified
number of Prudential plc ordinary
shares on the date of exercise, less
an option price of HKD 0.48 (being
the HKD equivalent of 5 pence per
share, using a 20-day average FX
rate up to the date Mr Wadhwani joined
Prudential plc).
The option will vest on the dates
detailed below:
Exercise Period Number of notional
Prudential plc
shares
30 days commencing
on the date the
Remuneration Committee
approves the proportion
of award to vest,
which will be
after the Manulife
2023 Circular
is published (expected
March 2024) 168,284
-------------------
30 days commencing
on the date the
Remuneration Committee
approves the proportion
of award to vest,
which will be
after the Manulife
2024 Circular
is published (expected
March 2025) 163,004
-------------------
2 March 2024 to
31 March 2024 62,706
-------------------
1 March 2025 to
30 March 2025 60,738
-------------------
5 March 2024 to
3 April 2024 7,820
-------------------
5 March 2025 to
3 April 2025 11,552
-------------------
This replacement award has been made
on a like-for-like basis, with the
option exercisable in accordance
with the original vesting timeframe
which attached to the forfeited awards.
Performance conditions apply where
these were attached to the original
awards.
This arrangement has been put in
place in accordance with Rule 9.4.2
of the UK Listing Rules, which allows
an individual scheme to be put in
place to assist with the recruitment
of an executive director, and is
consistent with the Directors' Remuneration
Policy.
-------------------------- -------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 474,104
----------
-------------------------- -------------------------------------------------
d) Aggregated information
- Aggregated volume 474,104
- Price Nil
-------------------------- -------------------------------------------------
e) Date of the transaction 2023-03-21
-------------------------- -------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------- -------------------------------------------------
Additional information
About Prudential plc
Prudential plc provides life and health insurance and asset
management in 24 markets across Asia and Africa. The business helps
people get the most out of life, by making healthcare affordable
and accessible and by promoting financial inclusion. Prudential
protects people's wealth, helps them grow their assets, and
empowers them to save for their goals. The business has dual
primary listings on the Stock Exchange of Hong Kong (2378) and the
London Stock Exchange (PRU). It also has a secondary listing on the
Singapore Stock Exchange (K6S) and a listing on the New York Stock
Exchange (PUK) in the form of American Depositary Receipts. It is a
constituent of the Hang Seng Composite Index and is also included
for trading in the Shenzhen-Hong Kong Stock Connect programme and
Shanghai-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential
Financial, Inc. a company whose principal place of business is in
the United States of America, nor with The Prudential Assurance
Company Limited, a subsidiary of M&G plc, a company
incorporated in the United Kingdom.
https://www.prudentialplc.com/
Contact
Hannah Perera, Director, Group Reward and Employee Relations and
CHRO UK Group HR, +44 (0)20 3977 9529
Sylvia Edwards, Deputy Group Secretary, +44 (0)20 3977 9214
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END
DSHJTMBTMTBTBLJ
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March 22, 2023 07:20 ET (11:20 GMT)
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