Company Announcements

Director/PDMR Shareholding

Source: RNS
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 / person closely associated






Anil Wadhwani



Reason for the notification






Chief Executive Officer (PDMR)



Initial notification /Amendment


Initial notification



Details of the issuer, emission allowance market participant, auction platform or auctioneer






Prudential plc








Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted




Description of the financial instrument, type of instrument


Identification code


Ordinary shares of 5 pence each







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)



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)



2 March 2024 to 31 March 2024


1 March 2025 to 30 March 2025


5 March 2024 to 3 April 2024


5 March 2025 to 3 April 2025



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.




Price(s) and volume(s)














Aggregated information


- Aggregated volume


- Price









Date of the transaction





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.



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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