Old Mutual - court meetings & general meeting
Old Mutual will hold a General Meeting (the ˘General Meeting÷) and two further shareholder meetings convened with the permission of the UK Court (the ˘Court Meetings÷) from 10.30am (UK time) on 25 May 2018.
At the Court Meetings, shareholders will vote on the two schemes of arrangement and at the General Meeting shareholders will vote on a Special Resolution to approve the proposal to finalise the managed separation of Old Mutual. The First Court Meeting facilitates the demerger of Quilter plc and, as a separate matter, a corporate restructuring to facilitate the subsequent unbundling of Nedbank, including an increase in the distributable reserves of Old Mutual under the first scheme of arrangement between Old Mutual and its shareholders. The Second Court Meeting approves the insertion of Old Mutual Ltd. as the holding company of Old Mutual under the second scheme of arrangement between Old Mutual and its shareholders.
As a result of its size relative to Old Mutual, the demerger of Quilter plc is a Class 1 transaction under the UK Listing Rules, and Old Mutual shareholders will therefore be asked to approve the demerger of Quilter plc at the General Meeting, amongst other things, in connection with the proposals to finalise the Managed Separation. Shareholders will also vote on a number of other resolutions regarding the share and incentive plans of the two businesses that will be listed if the Special Resolution is passed at the General Meeting, Quilter plc and Old Mutual Ltd.. A webcast of the Court Meetings and General Meeting will be hosted on: www.oldmutualplc.com
Expected Timetable of Managed Separation Key Events
* Last day for transfers between the UK Register, the SA Register, the Zimbabwean Register and the Malawian Register: Tuesday, 19 June 2018
* Last day to trade in Old Mutual plc Shares on the UK Register, SA Register, the Namibian Register and the Zimbabwean Register: Friday, 22 June 2018
* Court hearing to sanction the First Scheme : Wednesday, 20 June 2018
* Court hearing to sanction the Second Scheme : Monday, 25 June 2018
* Admission of the Quilter Shares to the London Stock Exchange and Johannesburg Stock Exchange and commencement of unconditional dealings in Quilter Shares on the London Stock Exchange and Johannesburg Stock Exchange: 8.00 a.m. on Monday, 25 June 2018
* Admission of the Old Mutual Ltd. Shares to Johannesburg Stock Exchange, London Stock Exchange, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange and commencement of unconditional dealings in Old Mutual Ltd. Shares on all of those stock exchanges: 8.00 a.m. on Tuesday, 26 June 2018
* Delisting of Old Mutual plc Shares from the Johannesburg Stock Exchange, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange: Friday, 29 June 2018