The following text is the text of an announcement released to
The Stock Exchange of Hong Kong Limited on 7 October 2024 pursuant
to rule 17.06A of the Rules Governing the Listing of Securities
(the "Listing Rules") on The Stock Exchange of Hong
Kong.
Hong Kong Exchanges and Clearing Limited, The Stock Exchange
of Hong Kong Limited and the Singapore Exchange Securities Trading
Limited take no responsibility for the contents of this
announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
(Incorporated and registered
in England and Wales with limited liability, registered number
01397169)
(Stock Code:
2378)
GRANT OF SHARE
OPTIONS
The attached announcement is being
released by Prudential plc on the date below.
By order of the
Board
Prudential
plc
Tom
Clarkson
Company
Secretary
7 October 2024, Hong Kong
As at the date of this announcement,
the Board of Directors of Prudential plc comprises:
Chair
Shriti Vadera
Executive Director
Anil Wadhwani (Chief Executive Officer)
Independent Non-executive Directors
Jeremy David Bruce Anderson
CBE, Arijit Basu, Chua
Sock Koong, Ming Lu, George David Sartorel,
Mark Vincent Thomas Saunders
FIA, FASHK, Claudia
Ricarda Rita Suessmuth Dyckerhoff,
Jeanette Kai Yuan Wong and Yok Tak
Amy Yip
*
For identification purposes
7 October 2024
GRANT OF SHARE
OPTIONS
This announcement is made pursuant
to Rule 17.06A of the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the "Listing Rules").
Prudential plc ("Prudential") announces that on 4
October 2024, options were granted over a total of 55,248 new
ordinary shares (the "Options") to certain eligible employees
under the Prudential Sharesave Plan 2023 (the "Sharesave 2023") which was approved at
the annual general meeting on 25 May 2023. A summary is set out
below:
|
Date of grant
|
:
|
4 October 2024
|
|
Number of Options granted
|
:
|
55,248
|
|
Exercise price of the Options
granted
|
:
|
GBP 5.20 per share, representing not less
than 80% of the market value of the shares
|
|
Closing price of the shares on the date of
grant
|
:
|
GBP 7.09 per share
|
|
Exercise period of the Options
granted
|
:
|
The Options are exercisable during
the respective maturity periods, 1 December 2027 to 31 May 2028 or
1 December 2029 to 31 May 2030
|
|
Vesting period of the Options
granted
|
:
|
The vesting period is 3 or 5 years
from the date of grant.
The Sharesave 2023: In the case of a
participant leaving as a good leaver, early vesting allows the
participant in compassionate leaver circumstances to receive the
value of their award in a prompt fashion so they can benefit from
it. The Remuneration Committee is of the view that this early
vesting event is in the best interests of Prudential and align with
the purpose of the plan to incentivise, reward and retain
employees.
|
|
Performance targets and clawback
mechanism
|
:
|
The Sharesave 2023 is a broad-based
plan (in a form approved by the UK tax authorities) intended to
promote share ownership in Prudential's wider workforce. The number
of shares participants may acquire is restricted by the amount of
savings they make under the plan. The maximum amount of savings
that a participant can make is in turn capped by the UK legislation
governing the plan. The Remuneration Committee therefore considers
it inappropriate to apply performance conditions or malus and
clawback provisions to awards granted under the plan, the use of
which, in any event, is restricted by the legislation governing the
plan.
|
The Options were granted to the
following category of grantees:
|
|
Number of
Options granted
|
|
Employees
|
55,248
|
|
Total
|
55,248
|
None of the grantees of the Options
is a director, chief executive or substantial shareholder of
Prudential, nor an associate (as defined in the Listing Rules) of
any of them.
As at the date of this announcement,
the maximum number of shares available for future grant under the
scheme mandate of the above plans and any other plans of Prudential
is 206,851,642.
About Prudential plc
Prudential plc provides life and
health insurance and asset management in 24 markets across Asia and
Africa. Prudential's mission is to
be the most trusted
partner and protector for this generation and generations to
come, by providing
simple and accessible financial
and health solutions. 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 the 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/