Offer Update

RNS Number : 5298D

Old Mutual PLC

03 December 2009

 

Ref 88/09

3 December 2009

UPDATE ON PROPOSED ACQUISITION OF THE REMAINING MINORITY SHAREHOLDING IN MUTUAL & FEDERAL

Further to today's announcement by Mutual & Federal Insurance Company Limited ("Mutual & Federal") in relation to Old Mutual plc's ("Old Mutual") offer to acquire those Mutual & Federal shares not currently beneficially owned by Old Mutual and/or its subsidiaries ("the Offer"), Old Mutual shareholders are advised that the South Gauteng High Court, Johannesburg, sanctioned the scheme of arrangement proposed by Old Mutual to implement the Offer. However, at the current time one of the required regulatory approvals, which is a condition precedent to the Offer, remains outstanding.   Accordingly, the salient dates and times published in the circular to Mutual & Federal shareholders posted on Friday, 30 October 2009 have been extended. A further announcement regarding the final dates and times of the Scheme will be made in due course.

The full announcement made today by Mutual & Federal is available on the Mutual & Federal website at www.mf.co.za

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

Enquiries

Investor Relations
Patrick Bowes	UK	[phone]
Deward Serfontein	SA	[phone]
Media
Matthew Gregorowski	UK / SA	[phone]
		[phone]
Don Hunter (Finsbury)	UK	[phone]

Notes to Editors

Old Mutual

Old Mutual plc is a leading international long-term savings 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 2008, the Group reported adjusted operating profit of £1.0 billion (on an IFRS basis) and had £265 billion of funds under management at the year end. The Group has approximately 57,000 employees.

 

END

 

 

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