Offer Update

RNS Number : 5825T

Old Mutual PLC

30 September 2010

 

Ref 155/10

30 September 2010

RENEWAL OF CAUTIONARY ANNOUNCEMENT BY NEDBANK GROUP LIMITED

Nedbank Group Limited ("Nedbank Group"), the majority owned South African banking subsidiary of Old Mutual plc, released an announcement on SENS today. The following is the full text of Nedbank Group's announcement:

"Shareholders are referred to the cautionary announcement released by Nedbank Group on 23 August 2010, in which shareholders were informed that Old Mutual plc had advised the Board of Directors of Nedbank Group that it had received a proposal from HSBC Holdings plc ("HSBC") to acquire a controlling interest in Nedbank Group.

In the aforementioned announcement, Nedbank Group indicated that the making of a binding offer by HSBC is subject to a number of pre-conditions. The process leading up to a potential offer is ongoing and accordingly, shareholders are advised to continue to exercise caution when dealing in Nedbank Group's securities until a further announcement is made."

For further information on Nedbank Group Limited, please visit the corporate website at www.nedbank.co.za 

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com  

Enquiries

External Communications
Patrick Bowes	UK	[phone]
Investor Relations
Deward Serfontein	SA	[phone]
Aleida White	UK	[phone]
Media
Don Hunter (Finsbury)	UK	[phone]
Rob Pinker (Brunswick)	SA	[phone]
Marina Bidoli (Brunswick)	SA	[phone]

Notes to Editors

Old Mutual

Old Mutual plc is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance in Europe, the Americas, Africa and Asia.  Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.

In the year ended 31 December 2009, the Old Mutual Group reported adjusted operating profit before tax of £1.2 billion (on an IFRS basis) and had £285 billion of funds under management at the year end.  The Old Mutual Group has approximately 54,000 employees.

Sponsor

Merrill Lynch South Africa (Pty) Ltd

 

END

 

 

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