Admission of OML and Appointment of Auditors

RNS Number : 5671S

Old Mutual Limited

26 June 2018

 

Old Mutual Limited

(Incorporated in the Republic of South Africa)

Registration number: 2017/235138/06

ISIN: ZAE000255360

JSE Share Code: OMU

NSX Share Code: OMM

("Old Mutual")

Ref 03/18

26 June 2018

ADMISSION OF OLD MUTUAL AND APPOINTMENT OF ADVISORS

Admission of Old Mutual

Old Mutual is pleased to announce that admission of, and commencement of unconditional dealings in, the ordinary shares of Old Mutual to the Johannesburg Stock Exchange Limited (JSE), the London Stock Exchange (LSE), the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange took place at 9.00 a.m. SAST today.

Following the Second Scheme becoming effective on 25 June 2018, Old Mutual is now the holding company of Old Mutual plc. The UK Listing Authority has cancelled the listing of Old Mutual plc shares on the premium listing segment of the Official List and the LSE has cancelled the trading of Old Mutual plc shares on the LSE's main market for listed securities, in each case with effect from 9.00 a.m. SAST today. It is expected that Old Mutual plc shares will be delisted from the JSE, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange on 29 June 2018.

Peter Moyo, Chief Executive Officer of Old Mutual, said: "What's most exciting about our listing as an independent, standalone entity is that it enables us to further unlock shareholder value and create a business with a strong strategic focus on sub-Saharan Africa."

"Our investment case is strong and compelling. Our business remains highly cash generative and is well-positioned in the right markets to drive added value from our franchises. We are privileged to have a business with a robust capital and liquidity position, which will provide the right catalyst to become a leading Pan-African financial services business."

"Exciting opportunities lie ahead for us as Old Mutual Limited and we look forward to delivering sustainable profit growth and returns for our shareholders, and making meaningful contributions to the societies in which we operate. By driving long-term economic growth in Africa, we can positively impact the lives of all our customers and communities on the continent," concluded Moyo.

Appointment of Advisors

Old Mutual has, in addition to its current auditor, KPMG Inc., appointed Deloitte as a joint external auditor to Old Mutual with effect from today, 26 June 2018.

BofA Merrill Lynch is acting as joint financial adviser and sponsor to Old Mutual in connection with the Managed Separation.

Rothschild is acting as independent financial adviser to Old Mutual in connection with the Managed Separation.

Defined terms used but not defined in this announcement have the meanings set out in the pre-listing statement published by Old Mutual on 20 April 2018 (the "PLS").

Sandton

26 June 2018

JSE Sponsor:

Merrill Lynch South Africa (Pty) Limited

Enquiries

Enquiries

Investor Relations

Nwabisa Piki                                                     T:       [phone]

                                                                       M:      [phone]

                                                                       E:       [e-mail]

Communications:

Tabby Tsengiwe                                                T:       [phone]

                                                                       M:      [phone]

                                                                        E:       [e-mail]

Notes to Editors

About Old Mutual Limited

Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 17 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche businesses in Latin America and Asia. With over 170 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent.

For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com. 

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Old Mutual Limited's control, including amongst other things, those set out in the PLS. These forward-looking statements speak only as of the date on which they are made. Old Mutual Limited expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement or any other forward-looking statements they may make.

IMPORTANT INFORMATION

This announcement is not an offer to sell, or a solicitation of an offer to purchase, securities in the United States or in any other jurisdiction.

The securities to which these materials relate have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdictions of the United States, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of the securities in the United States. The release, publication or distribution of this announcement and the PLS in jurisdictions other than South Africa, the United Kingdom, Malawi, Namibia and Zimbabwe may be restricted by law and therefore persons in whose possession any of this announcement or the PLS comes should inform themselves about, and observe, any such applicable restrictions or requirements. Any failure to comply with such restrictions or requirements may constitute a violation of the securities laws and regulations of any such jurisdiction. To the fullest extent permitted by applicable law, Old Mutual Limited disclaims any responsibility or liability for the violation of such restrictions or requirements by any person.

This announcement does not comprise a prospectus or a prospectus equivalent document. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

The information contained in this announcement constitutes factual information as contemplated in section 1(3)(a) of the South African Financial Advisory and Intermediary Services Act, 37 of 2002, as amended ("FAIS Act") and should not be construed as an express or implied recommendation, guide or proposal that any particular transaction in respect of any securities or in relation to the business or future investments of Old Mutual Limited is appropriate to the particular investment objectives, financial situations or needs of a prospective investor. Nothing in this announcement should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa, the United Kingdom, Malawi, Namibia, Zimbabwe or any other jurisdiction.

 

END

 

 

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