Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Anil Wadhwani |
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer (PDMR) |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform or auctioneer
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a)
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Name
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Prudential plc |
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b)
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LEI
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5493001Z3ZE83NGK8Y12 |
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4
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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
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a)
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Description of the financial instrument, type of instrument
Identification code
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Ordinary shares of 5 pence each
GB0007099541
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b)
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Nature of the transaction
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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:
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.
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c)
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Price(s) and volume(s)
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d)
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Aggregated information
- Aggregated volume
- Price
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474,104
Nil |
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e)
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Date of the transaction
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2023-03-21 |
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f)
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Place of the transaction
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London Stock Exchange |
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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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