AI assistant
Prudential PLC — Regulatory Filings 2016
May 24, 2016
4668_ffr_2016-05-24_89e83c60-7850-4b81-b382-cdc4afd934de.zip
Regulatory Filings
Open in viewerOpens in your device viewer
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 2016
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-
Prudential plc (the Company)
Notification of interests of Persons Discharging Managerial Responsibility (PDMRs) and connected persons
Prudential plc (the Company) announces that it has released to PDMRs shares under the Prudential Long Term Incentive Plan. This is the first release under this plan which was approved by shareholders at the Annual General Meeting held in May 2013.
Disposals have also been made to cover the cost of taxes and sales fees, together with other requested sales.
In addition dividend equivalents have accrued to PDMRs who participate in either the Annual Incentive Plan or the Group Deferred Bonus Plans, following the payment of the second 2015 interim and special dividend on 20 May 2016.
This announcement is made in accordance with the requirements of DTR 3.1.4R(1)(a).
Notifications of disposal of interests under the Prudential Long Term Incentive Plan (PLTIP)
The Company advises that on 23 May 2016 it released awards made under the PLTIP over ordinary shares of 5p and American Depositary Receipts (ADRs) for the benefit of PDMRs in the Company. Details are shown in table 1 and 2 below.
Table 1
The Company was notified on 24 May 2016 that sales were made in New York on behalf of PDMRs, as follows:
| Name | Beneficial interest before release | Number of ADRs released | Number of ADRs sold at $38.36 on 23 May 2016 | Number of ADRs sold at $38.328 on 23 May 2016 | Number of ADRs sold at $38.30 on 23 May 2016 | Number of ADRs sold at $40.10379 on 24 May 2016 | Number of ADRs sold at $40.075 following transfer to charitable trust on 24 May 2016 | Total beneficial interest following transaction |
|---|---|---|---|---|---|---|---|---|
| M Wells (ADRs) | 214,414 | 151,475 | - | - | - | 126,596 | 24,879 | 214,414 |
| B Stowe (ADRs) | 166,949 | 70,889 | 70,889 | 10,161 | 27,000 | - | - | 129,788 |
Included in the disposal figure are 24,879 ADRs which Mr Michael Wells transferred to a charitable trust, of which he is a trustee. Subsequently the charitable trust sold the ADRs at a price of $40.075 per ADR, also on 24 May 2016.
Table 2
The Company was notified on 24 May 2016 that sales were made in London on 23 May 2016 at £13.2019 and £13.24736 per share on behalf of PDMRs, as follows:
| Name | Beneficial interest in shares before release of award | Number of shares released | Number of shares sold at £13.2019 | Number of shares sold at £13.24736 | Total beneficial interest following transaction |
|---|---|---|---|---|---|
| J Foley | 264,442 | 145,981 | 19,802 | 145,981 | 244,640 |
| P James | 25,977 | 27,878 | - | 13,116 | 40,739 |
| M McLintock | 195,257 | 51,688 | 1,241 | 51,688 | 194,016 |
| N Nicandrou | 283,297 | 135,690 | - | 118,894 | 300,093 |
| T Wilkey | 153,386 | 82,953 | 35,296 | 82,953 | 118,090 |
| R Hariharan | 15,525 | 23,696 | 3,528 | 23,696 | 11,997 |
| J Oliver | 17,523 | 10,033 | - | 4,721 | 22,835 |
| A Porter | 24,562 | 28,714 | - | 28,714 | 24,562 |
| T Rolfe | 31,685 | 24,161 | 2,531 | 24,161 | 29,154 |
Dividend Equivalents
The Company was advised on 23 May 2016 that, following the payment of the second 2015 interim and special dividend of 36.47p on 20 May 2015, several PDMRs have increased their interests in the Company by way of a dividend equivalent on their Annual Incentive Plan or group Deferred Bonus Plan.
The following individuals have received American Depositary Receipts (ADRs), at a price per ADR of US$ 37.80, in respect of dividends accruing to deferred share awards held by Sanne Fiduciary Services Limited on their behalf under the Company's Annual Incentive Plan:
| Name of PDMR | Number of ADRs received | Total beneficial interest following notification | Number of ADRs subject to performance conditions | Total interest in ADRs | % of issued share capital beneficially held following transaction | % of issued share capital held as conditional share awards following transaction |
|---|---|---|---|---|---|---|
| M Wells | 3,104 | 217,518 | 405,589 | 623,107 | - | - |
| B Stowe | 2,350 | 132,138 | 276,766 | 408,904 | 0.0130 | 0.0211 |
The following individuals have received ordinary shares of 5p each at a price per share of £12.97, in respect of dividends accruing to deferred share awards held by Sanne Fiduciary Services Limited on their behalf under the Company's Annual Incentive Plan and Group Deferred Bonus Plans:
| Name of PDMR | Number of ordinary shares received | Total beneficial interest following notification | Number of shares subject to performance conditions | Total interest in shares | % of issued share capital beneficially held following transaction | % of issued share capital held as conditional share awards following transaction |
|---|---|---|---|---|---|---|
| M Wells | 2,902 | 541,318 | 811,178 | 1,352,496 | 0.0210 | 0.0525 |
| J Foley | 3,882 | 268,324 | 554,328 | 822,652 | 0.0097 | 0.0164 |
| P James | 620 | 25,977 | 196,436 | 222,413 | 0.0016 | 0.0067 |
| M McLintock | 5,445 | 200,702 | 126,185 | 326,887 | 0.0078 | 0.0031 |
| N Nicandrou | 2,898 | 302,991 | 373,328 | 676,319 | 0.0111 | 0.0145 |
| T Wilkey | 2,388 | 156,074 | 511,766 | 667,840 | 0.0047 | 0.0167 |
| J Adams | 713 | 26,244 | 144,845 | 171,069 | 0.0010 | 0.0056 |
| R Hariharan | 372 | 12,369 | 97,655 | 110,024 | 0.0005 | 0.0046 |
| J Oliver | 219 | 23,054 | 53,579 | 76,633 | 0.0009 | 0.0024 |
| A Porter | 632 | 25,194 | 158,458 | 183,652 | 0.0010 | 0.0052 |
| T Rolfe | 798 | 29,952 | 149,385 | 203,692 | 0.0012 | 0.0067 |
Additional Information
Mr Wells' beneficial interest in shares is made up of 220,622 ADRs (representing 441,244 ordinary shares) and 106,282 ordinary shares. Mr Wells' conditional share awards are over 332,870 ordinary shares and 239,154 ADRs (representing 478,308 ordinary shares).
Mr Stowe's beneficial interest in shares is made up of 129,788 ADRs (representing 259,576 ordinary shares).
Prudential plc ADRs are issued at a ratio of 1 ADR being equal to 2 Prudential plc ordinary shares of 5p each.
Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.
Date of Notification 24 May 2016
Contact
Jennie Webb, Share Plans Manager, + 44 (0)20 7548 2027
Stefan Bort, Deputy Group Secretary, + 44 (0) 20 7548 2115
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date 24 May 2016
| PRUDENTIAL PUBLIC LIMITED COMPANY |
|---|
| By: /s/ Stefan Bort |
| Stefan Bort |
| Deputy Group Secretary |