15 Aug 2018

Section 430(2B) Companies Act 2006 Statement

The following information is provided in accordance with section 430(2B) of the Companies Act 2006. 

On 27 July 2018, the Company announced that Anne Richards had resigned as Chief Executive, M&G.  She stepped down from the Board of Prudential plc on 10 August 2018 and her employment with the Company will end on 30 November 2018. Remuneration arrangements in respect of her departure are in line with the Prudential Directors’ Remuneration Policy approved by shareholders at the AGM in May 2017. Further details will be included in Prudential’s 2018 Annual Report, to be published in the Spring of 2019.

Ms Richards’ salary, pension and certain benefits will be paid until the end of her employment.  She will not receive an annual bonus for 2018.

Part of Ms Richards’ 2016 and 2017 bonuses were deferred for three years in the form of a total of 89,961 shares under the Prudential deferred annual incentive plan (“AIP”).  These AIP awards will be released on the original timetable and remain subject to malus and clawback provisions.

Ms Richards’ outstanding long-term incentive awards and buy-out awards will lapse at the end of her employment.

Jackson National Life Insurance Company

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).