REG - Prudential PLC - Overseas Regulatory Announcement - Supplemental

PrudentialAnnouncement

13/11/2024 10:45

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RNS Number : 1028M  Prudential PLC  13 November 2024

The following text is the text of an announcement released to The Stock
Exchange of Hong Kong Limited on 13 November 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

SUPPLEMENTAL ANNOUNCEMENT

 

The attached announcement is being released by Prudential plc on the date
below.

 

 

     By order of the Board

Prudential plc

Tom Clarkson

Company Secretary

 

13 November 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

(

)

 

13 November 2024

 

GRANT OF SHARE OPTIONS

SUPPLEMENTAL ANNOUNCEMENT

 

Reference is made to the announcement of Prudential plc ("Prudential") issued
on 7 October 2024 regarding the grant of share options under the Prudential
International Savings-Related Share Option Scheme for Non-Employees (the
"ISSOSNE") (the "October ISSOSNE Announcement"). As the October ISSOSNE
Announcement contained an inadvertent error relating to the number of options
granted, the Board wishes to clarify the correct number of options granted by
way of a supplemental announcement as set out below.

 

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 announces that on 4 October 2024, options were granted over a total
of 511,813 new ordinary shares (the "Options") to certain non-employees under
the ISSOSNE 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                                   :  511,813

 Exercise price of the Options granted                       :  HKD 53.40 per share, representing not less than 80% of the market value of the
                                                                shares

 Closing price of the shares on the date of grant            :  HKD 73.00 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.
 Grants to service providers or related entity participants  :  ISSOSNE is designed to incentivise and retain individuals, such as insurance
                                                                agents, who are not employees of Prudential or its subsidiaries (the "Group")
                                                                but who are closely connected with the Group. The Board of Directors of
                                                                Prudential is of the view that these grants will ensure Prudential's long term
                                                                interests are aligned and the grantees will be motivated to contribute towards
                                                                the Group's development.

 

The Options were granted to the following category of grantees:

 

                Number of Options granted
 Non-Employees  511,813
 Total          511,813

 

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 the October ISSOSNE Announcement and 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
207,048,378 and the service provider sublimit of the above plan and any other
plans of Prudential is 38,997,344.

 

Reference is also made to the other announcement made by Prudential issued on
7 October 2024 regarding a certain grant of share options under the Prudential
Sharesave Plan 2023 (the "Sharesave") (the "October Sharesave Announcement").
Due to the inadvertent oversight in the October ISSOSNE Announcement, the
October Sharesave Announcement misstated the maximum number of shares
available for future grant. The Board wishes to clarify that, as at the date
of the October Sharesave Announcement and the date of this announcement, the
maximum number of shares available for future grant was 207,048,378 under the
scheme mandate of the Sharesave and any other plans of Prudential.

 

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/ (https://www.prudentialplc.com/)

 

 

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