OMAM launches secondary offering

RNS Number : 1504Q

Old Mutual PLC

15 June 2015

 



Old Mutual plc

Ref 453/15

15 June 2015

OM Asset Management launches secondary offering

Old Mutual plc ("Old Mutual") today announces that OM Asset Management plc ("OMAM") has launched an offering of 11 million of its ordinary shares. The shares are being offered by Old Mutual and proceeds from the proposed offering are expected to be used for general corporate purposes. OMAM will not sell any shares in the proposed offering and thus will not receive any proceeds from the offering.

The underwriters also have a 30-day option to purchase up to an additional 1.65 million shares from Old Mutual.

The offering will be made through joint bookrunning managers BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup, and Credit Suisse Securities (USA) LLC.

A registration statement relating to these securities, and containing a preliminary prospectus, subject to completion, has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

Old Mutual shareholders' attention is drawn to the registration statement, since it contains new information on the business performance of OMAM in addition to that already announced its Q1 2015 results.

Copies of the preliminary prospectus relating to the offering, when available, may be obtained from: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: [e-mail] or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, e-mail: [e-mail]. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

Enquiries

Investor relations

Patrick Bowes                           UK        + 44 20 7002 7440

Dominic Lagan                           UK        + 44 20 7002 7190

Sizwe Ndlovu                             SA        + 27 11 217 1163

Media

William Baldwin-Charles                         + 44 20 7002 7133

                                                                + 44 7834 524833

Notes to Editors

About Old Mutual plc

Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

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

About OMAM

OMAM is a global, multi-boutique asset management company with $224.0 billion of assets under management as of 31 March 2015. Its diverse Affiliates offer leading, alpha generating investment products to investors around the world. OMAM's partnership approach, which includes equity ownership at the Affiliate level and a profit sharing relationship between OMAM and its Affiliates, aligns the interests of OMAM and its Affiliates to work collaboratively in accelerating their growth. OMAM's business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm.

Forward-Looking Statements

The information in this release contains forward-looking information that involves substantial risks and uncertainties regarding the proposed offering. Such risks and uncertainties include, among other things, the possibility that the proposed offering will not be completed within a particular time frame or at a particular offering amount, or at all, including as a result of regulatory, market or other factors. Old Mutual assumes no obligation to update forward-looking statements contained in this release as the result of new information, future events or developments.  

 

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