To view the PDF file, sign up for a MySharenet subscription.

OLD MUTUAL PLC - Old Mutual Plc Court Meetings And General Meeting

Release Date: 25/05/2018 08:00
Code(s): OML     PDF:  
Wrap Text
Old Mutual Plc Court Meetings And General Meeting


   OLD MUTUAL PLC
   ISIN CODE: GB00B77J0862
   JSE SHARE CODE: OML
   NSX SHARE CODE: OLM
   ISSUER CODE: OLOMOL
   Old Mutual plc

   Ref 209/18
   25 May 2018


   OLD MUTUAL PLC COURT MEETINGS AND GENERAL MEETING

   Old Mutual plc (“Old Mutual” or “the Company”) will today 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) today, 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
   Limited 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 Limited.
   A webcast of the Court Meetings and General Meeting will be hosted on: www.oldmutualplc.com


   Expected Timetable of Managed Separation Key Events

    Event                                                         Time and/or date
    Last day to trade in Old Mutual plc Shares on the             Thursday, 14 June 2018
    Malawian Register
    Last day for transfers between the UK Register, the SA        Tuesday, 19 June 2018
    Register, the Zimbabwean Register and the Malawian
    Register
    Last day to trade in Old Mutual plc Shares on the UK          Friday, 22 June 2018
    Register, SA Register, the Namibian Register and the
    Zimbabwean Register

    Court hearing to sanction the First Scheme                    Wednesday, 20 June 2018

    Court hearing to sanction the Second Scheme                   Monday, 25 June 2018
        Event                                                            Time and/or date
        Admission of the Quilter Shares to the London Stock              8.00 a.m. on Monday, 25 June 2018
        Exchange and Johannesburg Stock Exchange and
        commencement of unconditional dealings in Quilter
        Shares on the London Stock Exchange and
        Johannesburg Stock Exchange

        Admission of the Old Mutual Limited Shares to                    8.00 a.m. on Tuesday, 26 June 2018
        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
        Limited Shares on all of those stock exchanges

        Delisting of Old Mutual plc Shares from the London Stock         by 8.00 a.m. on Tuesday, 26 June 2018
        Exchange
        Delisting of Old Mutual plc Shares from the                      Friday, 29 June 2018
        Johannesburg Stock Exchange, the Namibian Stock
        Exchange, the Zimbabwe Stock Exchange and the
        Malawi Stock Exchange


       Enquiries

        External communications

        Patrick Bowes                                  +44 20 7002 7440


        Investor relations
        Dominic Lagan (Old Mutual plc)                 +44 20 7002 7190
        John-Paul Crutchley (Quilter)                  +44 20 7002 7016

        Nwabisa Piki (Old Mutual Emerging Markets)     +27 11 217 1951


        Media
        William Baldwin-Charles                        +44 20 7002 7133
                                                       +44 7834 524833
       Notes to Editors

       About Old Mutual plc
       Old Mutual plc is a holding company for several financial services companies. In March 2016, it announced a new
       strategy of managed separation entailing the separation of its underlying businesses into independently-listed,
       standalone entities.

       BrightSphere Investment Group, a US based institutional asset manager, which rebranded from OM Asset
       Management in March 2018, is now independent from Old Mutual. The remaining underlying businesses are:


       OLD MUTUAL LIMITED (which includes Old Mutual Emerging Markets): Old Mutual Limited has an ambition
       to become a premium financial services group in sub-Saharan Africa and offers a broad spectrum of financial
       solutions to retail and corporate customers across key market segments in 17 countries.

       Nedbank: Nedbank ranks as a top-5 bank by capital on the African continent and Ecobank, in which Nedbank
       maintains a 21.2% shareholding, ranks within the top-10 banks by assets on the African continent.

       Quilter: Quilter (formerly Old Mutual Wealth) is a leader in the UK and in selected offshore markets in wealth
       management, providing advice-led investment solutions and investment platforms to over 900,000 customers,
       principally in the affluent market segment.

       For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion.
       For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at
       www.oldmutualplc.com.


       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Corporate and Investment Banking






Date: 25/05/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story