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/
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