2009 Annual report - Nedbank Group Limited

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N E D N A M I B I AH O L D I N G SNotes to the Consolidated Annual Financial StatementsFOR THE YEAR ENDED 31 DECEMBER 200942. Share-based payments (continued)42.4 Instruments outstanding at the end of the year byexercise priceBlack Business Partner Scheme2009 2008WeightedWeightedaverageaverageremainingremainingNumber of contractual Number of contractualinstruments life (years) instruments life (years)278.98 199,929 6.93 199,929 7.93affinity Group Scheme282.47 74,048 6.93 74,048 7.93education Scheme282.47 98,730 6.93 98,730 7.93Discretionary Scheme282.58 – 10.00 – 10.00ltip Scheme0.00 44,212 2.17 – –134.30 23,250 4.00 23,250 3.61Black Management Scheme0.00 17,396 2.00 17,396 3.00101.29 58,004 4.00 58,004 5.00Broad-based Scheme75,400 3.54 75,400 4.000.00 39,816 – 39,816 –42.5 Instruments granted during the yearLTIP Scheme2009 2008Number of instruments granted 47,512 –Weighted average fair value per instrument granted (R) 70.00 –Weighted average share price (R) 70.00 –Weighted average exercise price (R) – –Weighted average expected volatility (%)* 52.00 –Weighted average life (years) 3.00 –Weighted average expected dividends (%)** – –Weighted average risk-free interest rate (%) 8.06 –Number of participants 23 –Weighted average vesting period (years) 3.00 –Possibility of not vesting (%) 45 –Expectation of meeting performance criteria (%) 55 –No other instruments were granted in 2009 (2008: Nil)120 G RO U P A N N U A L F I N A N C I A L STAT E M E N T S
43. Related party disclosure43.1 Parent companyNedNamibia Holdings Limited’s majority shareholder is Nedbank Group Limited (100%) (2008: 100%), which is incorporatedin South Africa. The ultimate holding company is Old Mutual plc. The subsidiaries and associates of these companies arealso seen as related companies.43.2 Identity of related parties with whom transactions have occurredSubsidiaries and the associate of the Group are identified in note 11. All of these entities are related parties. Transactionswith directors and director controlled entities are related party transactions.43.3 Related party balances2009 2008N$’000N$’000Loans from related partiesNedbank Group Limited (holding company) 821 8,992Nedbank Group Limited (holding company) (structured loans) - 165,666Nedbank Group Limited (holding company) (provision for management fees) 45,508 34,630Nedbank Group Limited (Derivative instruments included under note 7) 2,597 1,509Old Mutual Namibia Limited (fellow subsidiary) 241,853 133,679Nedbank London (fellow subsidiary) 46 46Nedbank London (fellow subsidiary) (Derivative instruments included under note 7) 62 25NIB Holdings (Namibia) (Proprietary) Limited (fellow subsidiary) 12 6,895Woodlands Investments Company (Proprietary) Limited (fellow subsidiary) 9,064 11,800Nedbank Namibia Pension Fund (pension fund) 2,492 1,974Balances with directors 388 734Balances with key management 91 381Loans to related partiesNedbank Group Limited (holding company) (Zero-coupon bonds) 34,161 91,029Nedbank Group Limited (holding company) (Internal settlement account) 24,852 40,364Nedbank Group Limited (holding company) (Negotiable certificates of deposit) 31,600 81,633Nedbank Group Limited (holding company) (Overnight deposit) - 18,805Nedbank Group Limited (Derivative instruments included under note 7) 623 5,541Nedbank London (fellow subsidiary) (Derivative instruments included under note 7) 62 –Balances with directors 11,626 18,944Balances with key management 8,321 11,961GROUP ANNUAL FINANCIAL STATEMENT S 121
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06 | Christopher J PearceIndependen
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Left to Right: Andre Ventér; Nevil
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35,1% increasein net profit after t
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APPRECIATIONOur thanks are due to o
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Major improvementin the quality of
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LOOKING AHEADOur strategic focus in
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2009 Annual report - Nedbank Group Limited

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