REG - Old Mutual Ltd - Results of shareholder voting at GM

Old MutualAnnouncement

12/08/2022 13:00

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RNS Number : 8820V  Old Mutual Limited  12 August 2022

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code:
OMU

NSX Share Code: OMM

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "the Company")

 

Ref 38/22

12 August 2022

 

RESULTS OF SHAREHOLDER VOTING AT THE GENERAL MEETING ("GM") - OLD MUTUAL BULA
TSELA TRANSACTION

Shareholders are referred to the announcement dated 13 July 2022 regarding the
distribution of the circular and notice of general meeting regarding the
Company's transformative B-BBEE ownership transaction named Old Mutual Bula
Tsela ("Transaction").

 

Old Mutual is pleased to advise shareholders that the ordinary and special
resolutions regarding the Transaction, were passed by the requisite majority
of votes of shareholders present in person or represented by proxy at the GM
held on Friday, 12 August 2022.

 

The voting results were as follows:

 

  RESOLUTIONS                                                                TOTAL SHARES VOTED                           SHARES ABSTAINED
                                                                             FOR (%)  AGAINST (%)  NUMBER         %*      %*
 Ordinary Resolution Number 1 - Authority for specific issues of shares for  99.88%   0.12%        2,968,938,694  63.05%  0.45%
 cash
 Special Resolution Number 1 - Authority for financial assistance            99.95%   0.05%        2,968,948,475  63.05%  0.45%
 Special Resolution Number 2 - Authority for future specific repurchases     99.96%   0.04%        2,973,779,024  63.16%  0.35%
 Ordinary Resolution Number 2 - Authority to implement                       99.99%   0.01%        2,969,846,090  63.07%  0.43%

 

*as a percentage of total number of shares in issue 4,708,553,649 as at 5
August 2022.

 

"We would like to thank our shareholders for their ongoing support on this
milestone transaction, which gives life to our commitment to transformation,
delivering on our 2018 undertaking. It results in Old Mutual exceeding 33%
B-BBEE ownership and further enables us to play a role in transforming the
financial futures of those who participate in the scheme. We are proud to be
the first insurer to facilitate an offer of shares directly to the black South
African public and believe that the inclusion of the eligible public
contributes to making this a truly transformative transaction."  Old Mutual
CEO, Iain Williamson

 

Salient dates relating to the Bula Tsela Retail Scheme:

 

The Old Mutual Bula Tsela Retail Scheme will be opened on 22 August 2022, with
the application window closing on 24 October 2022 and the Transaction is
expected to be fully implemented by December 2022. Full details will be
provided in a detailed prospectus, which will be released on our website at
https://www.oldmutual.com/bula-tsela/ on 22 August 2022.

 

Sandton

 

Corporate Advisers

Tamela Holdings Proprietary Limited

Rand Merchant Bank (a division of FirstRand Bank Limited)

 

Independent Reporting Accountants and Auditors

Deloitte & Touche

 

Legal Adviser to Old Mutual

Bowman Gilfillan Inc.

 

JSE Transaction Sponsor

Merrill Lynch South Africa (Pty) Limited t/a BofA Securities

 

Sponsors

 Johannesburg Stock Exchange  Merrill Lynch South Africa (Pty) Limited t/a BofA Securities
 Malawi Stock Exchange        Stockbrokers Malawi Limited
 Namibia Stock Exchange       PSG Wealth Management (Namibia) (Proprietary) Limited
 Zimbabwe Stock Exchange      Imara Capital Zimbabwe plc

 

Enquiries

 Investor Relations
 Sizwe Ndlovu               T: +27 (0)11 217 1163

 Head: Investor Relations   E: tndlovu6@oldmutual.com

 Communications
 Vuyo Mtawa                 M: +27 68 422 8125
 Head: Group Communication  E: vmtawa@oldmutual.com

 

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
market segments in 14 countries. Old Mutual's primary operations are in South
Africa and the Rest of Africa and it has a niche business in Asia. With 177
years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of
the communities they serve and the broader society on the continent.

 

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

 

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