NEDBANK GROUP EMPLOYEE INCENTIVE SCHEMES
| 2008 | 2007 | ||
| Movements | |||
| Options outstanding at the beginning of the year | 21 174 877 | 20 384 608 | |
| Granted | 2 812 982 | 6 557 583 | |
| Exercised | (2 351 454) | (3 503 475) | |
| Expired | (1 313 279) | (173 313) | |
| Surrendered | (1 404 848) | (2 090 526) | |
| Options outstanding at the end of the year | 18 918 278 | 21 174 877 | |
| Analysis | |||
| Performance-based options – 1994 Scheme | 715 035P | 1 311 740P | |
| Non-performance-based options – 1994 Scheme | 1 155 352 | 2 960 131 | |
| Performance-based options – 2005 Scheme | 8 095 501P | 6 227 766P | |
| Non-performance-based options – 2005 Scheme | 8 357 220 | 10 078 478 | |
| Performance-based options – Matched Shares Scheme 2005 | 297 585 | 298 381 | |
| Non-performance-based options – Matched Shares Scheme 2005 | 297 585 | 298 381 | |
| 18 918 278 | 21 174 877 | ||
| Summary by scheme | |||
| Nedcor Group Employee Incentive Scheme (1994) | 1 822 476 | 3 971 572 | |
| Options granted in respect of the rights offer (1994 scheme) | 47 911 | 271 409 | |
| Ex-NIB Share Incentive Scheme – now part of Nedcor Group Employee Incentive Scheme (1994) | 28 890 | ||
| Nedbank Group Share Option Scheme (2005) | 16 452 721 | 16 306 244 | |
| Nedbank Group Matched Share Scheme (2005) | 595 170 | 596 762 | |
| Options outstanding at the end of the year | 18 918 278 | 21 174 877 |
NEDCOR GROUP EMPLOYEE INCENTIVE SCHEME (1994)
| The following options granted had not been exercised at 31 December 2008: | |||||
| Issue | Issue | ||||
| Option | Number of | price | Option | Number of | price |
| expiry date | shares | R | expiry date | shares | R |
| b/f | 143 790 | ||||
| 25-Feb-09 | 54 750 | 102,19 | 28-Jan-10 | 2 875P | 60,01 |
| 30-Mar-09 | 650 | 60,01 | 1-Mar-10 | 5 000 | 60,01 |
| 30-Mar-09 | 650P | 60,01 | 1-Mar-10 | 5 000P | 60,01 |
| 21-May-09 | 1 000 | 60,01 | 1-Apr-10 | 5 000 | 60,01 |
| 21-May-09 | 1 000P | 60,01 | 1-Apr-10 | 5 000P | 60,01 |
| 12-Jun-09 | 3 750 | 69,20 | 1-May-10 | 11 500P | 60,01 |
| 29-Aug-09 | 12 000 | 74,40 | 11-May-10 | 609 988P | 60,01 |
| 1-Oct-09 | 11 840P | 69,20 | 11-May-10 | 453 023 | 60,01 |
| 1-Oct-09 | 46 900 | 69,20 | 10-Aug-10 | 56 000P | 55,75 |
| 1-Dec-09 | 5 000 | 60,01 | 10-Aug-10 | 198 950 | 55,75 |
| 1-Dec-09 | 5 000P | 60,01 | 20-Apr-11 | 326 350 | 74,40 |
| 1-Jan-10 | 1 250P | 60,01 | |||
| Total | 143 790 | 1 822 476 | |||
OPTIONS GRANTED IN RESPECT OF THE RIGHTS OFFER (1994 SCHEME)
| Issue | |||
| Option | Number of | price | |
| expiry date | shares | R | |
| 25-Feb-09 | 21 876 | 45,00 | |
| 12-Jun-09 | 1 563 | 45,00 | |
| 1-Oct-09 | 19 540 | 45,00 | |
| 1-Oct-09 | 4 932P | 45,00 | |
| Total | 47 911 |
NEDBANK GROUP (2005) SHARE OPTION, MATCHED SHARE AND RESTRICTED SHARE SCHEME
| Share options: | ||||||||
| The following options granted had not been exercised at 31 December 2008: | ||||||||
| Issue | Issue | Issue | ||||||
| Option | Number of | price | Option | Number of | price | Option | Number of | price |
| expiry date | shares | R | expiry date | shares | R | expiry date | shares | R |
| 31-Jan-09 | 12 700 | 110,98 | b/f | 96 600 | b/f | 212 200 | ||
| 31-Jan-09 | 4 000P | 134,30 | 1-May-09 | 15 000 | 110,98 | 7-Oct-09 | 1 000 | 76,79 |
| 31-Jan-09 | 18 000P | 144,30 | 1-May-09 | 7 100 | 84,68 | 1-Nov-09 | 10 000 | 76,79 |
| 1-Feb-09 | 7 000 | 76,79 | 1-Jun-09 | 4 000 | 76,79 | 1-Nov-09 | 17 500 | 110,98 |
| 23-Feb-09 | 2 500 | 76,79 | 1-Jul-09 | 2 000 | 76,79 | 1-Nov-09 | 15 000P | 144,30 |
| 28-Feb-09 | 2 000 | 76,79 | 1-Jul-09 | 1 000 | 110,98 | 1-Dec-09 | 5 000 | 76,79 |
| 28-Feb-09 | 9 400 | 84,68 | 1-Jul-09 | 2 000P | 144,30 | 1-Dec-09 | 8 000 | 110,98 |
| 28-Feb-09 | 11 000 | 110,98 | 2-Jul-09 | 5 000 | 76,79 | 1-Dec-09 | 6 000P | 144,30 |
| 28-Feb-09 | 9 500P | 144,30 | 2-Jul-09 | 2 000 | 110,98 | 30-Jun-10 | 3 026 040 | 76,79 |
| 6-Mar-09 | 500 | 76,79 | 2-Jul-09 | 2 000P | 144,30 | 8-Aug-10 | 356 900 | 84,68 |
| 31-Mar-09 | 1 000 | 76,79 | 1-Sep-09 | 20 000 | 76,79 | 28-Feb-11 | 4 394 980 | 110,98 |
| 18-Apr-09 | 1 000 | 76,79 | 1-Oct-09 | 11 000 | 76,79 | 3-Mar-11 | 2 173 651P | * |
| 22-Apr-09 | 1 000 | 76,79 | 1-Oct-09 | 25 000 | 110,98 | 10-Aug-11 | 376 100 | 107,03 |
| 30-Apr-09 | 5 000 | 76,79 | 1-Oct-09 | 12 000P | 144,30 | 11-Aug-11 | 195 231P | * |
| 30-Apr-09 | 2 000 | 110,98 | 2-Oct-09 | 4 500 | 110,98 | 27-Feb-12 | 4 963 119P | 144,30 |
| 1-May-09 | 10 000 | 76,79 | 2-Oct-09 | 3 000P | 144,30 | 10-Aug-12 | 692 000P | 134,30 |
| Total | 96 600 | 212 200 | 16 452 721 | |||||
| Restricted shares issued at a market price for no consideration to participants and held by the scheme until expiry date (subject to achievement of performance conditions). Participants have full rights and receive dividends. | ||||||||
MATCHED SHARES
The obligation to deliver the following matched shares, 50% is subject to time and the other 50% to performance criteria, exists at 31 December 2008:
| Option | Number of | ||
| expiry | shares | ||
| 1-Apr-09 | 136 243 | ||
| 31-Mar-10 | 168 593 | ||
| 1-Apr-11 | 290 334 | ||
| Total | 595 170 | ||
| P Performance-based options | |||