Old Mutual Limited Showcase

RNS Number : 1792V

Old Mutual PLC

01 November 2017

 

Old Mutual plc

Ref 245/17

1 November 2017

Old Mutual limited showcase

Old Mutual plc ('Old Mutual') will be holding a showcase today, 1 November 2017, on Old Mutual Limited ('OML'), the new South African holding company for Old Mutual Emerging Markets ("OMEM"), the 54% stake in Nedbank Group Limited ("Nedbank") and residual elements of Old Mutual plc. OML will have its primary listing on the Johannesburg Stock Exchange, and secondary listings on the London Stock Exchange and other African exchanges in 2018.   

The showcase will feature presentations and question & answer sessions from the OML and Nedbank leadership teams including Peter Moyo, Chief Executive Officer designate of OML, and Mike Brown, Chief Executive of Nedbank.

The programme will include a briefing on Old Mutual's managed separation strategy, an overview of Nedbank and an introduction to the other businesses of OML, including the OML investment proposition, growth prospects, governance structures, financial highlights and risk and capital management. The event will also include management briefings on each of OML's business segments. No material new financial information or operational targets will be announced.

OML announces today that it has agreed with Nedbank that, subsequent to the unbundling of the majority of its shareholding, the remaining minority holding will be 19.9%, providing a foundation for the continued strategic relationship between the two businesses.

On 30 October 2017, Old Mutual Group Holdings Limited (SA), the South African intermediate holding company for OMEM and Nedbank, announced the appointment of additional non-executive directors.  It is planned that this will become the new board of directors for OML. Please use the following link to access the full press release: www.oldmutualplc.com/media/news/view-news.jsp?news-id=32306

The showcase will take place at the Nedbank auditorium in Johannesburg and will start today at 9:30 South African time (7:30 GMT).

A showcase on the Old Mutual Wealth UK business will take place on 15 November 2017 in London.  Old Mutual's next scheduled update will be in March 2018 when it is expected to publish its 2017 full year financial results.

Details of the webcast

A webcast of the presentations and Q&A will be broadcast live. Those wishing to participate in the call can register for the webcast on the company website: www.oldmutualplc.com, dial the following numbers and quote the pass-code 99971120#:

UK/International: [phone]

US: [phone]

South Africa: [phone]

Playback will be available for 30 days from 1 November 2017, using passcode 301207545# using the following numbers:

UK/International: [phone]

US: [phone]

South Africa: [phone]

Presentation documents are available to download today from 9:00 South African time (7:00 GMT) at: www.oldmutualplc.com.

Transcripts will be available from the Old Mutual website following the event.

ENDS

Enquiries

External communications

Patrick Bowes                                                                      [phone]

Investor relations

Dominic Lagan (Old Mutual plc)                                       [phone]

Nwabisa Piki (Old Mutual Emerging Markets)               [phone]

Media

William Baldwin-Charles                                                   [phone]

                                                                                                [phone]

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.

The managed separation strategy seeks to preserve and release the value currently trapped within the group structure. The managed separation will be materially complete by the end of 2018.

OM Asset Management, a US based institutional asset manager, is now independent from Old Mutual. The remaining underlying businesses segmentally report as:

Old Mutual Emerging Markets: A South African based leading provider of financial services in sub-Saharan Africa.

Nedbank: One of South Africa's largest banks, with a 20% stake in pan-African Ecobank Transational Inc.

Old Mutual Wealth: a leading, integrated, advice-led wealth management business focused on the UK upper and middle market.

For the year ended 31 December 2016, Old Mutual reported an adjusted operating profit before tax of £1.7 billion and had £395 billion of funds under management. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutualplc.com.

 

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