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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Old Mutual | LSE:OML | London | Ordinary Share | GB00B77J0862 | ORD 11 3/7P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 210.90 | 211.10 | 211.30 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOML
RNS Number : 2593P
Old Mutual PLC
25 May 2018
Old Mutual plc
Ref 209/18
25 May 2018
old mutual plc COURT MEETINGS AND general meeting
Old Mutual plc ("Old Mutual" or "the Company") will today hold a General Meeting (the "General Meeting") and two further shareholder meetings convened with the permission of the UK Court (the "Court Meetings") from 10.30am (UK time) today, 25 May 2018.
At the Court Meetings, shareholders will vote on the two schemes of arrangement and at the General Meeting shareholders will vote on a Special Resolution to approve the proposal to finalise the managed separation of Old Mutual. The First Court Meeting facilitates the demerger of Quilter plc and, as a separate matter, a corporate restructuring to facilitate the subsequent unbundling of Nedbank, including an increase in the distributable reserves of Old Mutual under the first scheme of arrangement between Old Mutual and its shareholders. The Second Court Meeting approves the insertion of Old Mutual Limited as the holding company of Old Mutual under the second scheme of arrangement between Old Mutual and its shareholders.
As a result of its size relative to Old Mutual, the demerger of Quilter plc is a Class 1 transaction under the UK Listing Rules, and Old Mutual shareholders will therefore be asked to approve the demerger of Quilter plc at the General Meeting, amongst other things, in connection with the proposals to finalise the Managed Separation. Shareholders will also vote on a number of other resolutions regarding the share and incentive plans of the two businesses that will be listed if the Special Resolution is passed at the General Meeting, Quilter plc and Old Mutual Limited.
A webcast of the Court Meetings and General Meeting will be hosted on: www.oldmutualplc.com
Expected Timetable of Managed Separation Key Events
Event Time and/or date ---------------------------------------------------------------------------- -------------------------------------- Last day to trade in Old Mutual plc Shares on the Malawian Register Thursday, 14 June 2018 Last day for transfers between the UK Register, the SA Register, the Tuesday, 19 June 2018 Zimbabwean Register and the Malawian Register Last day to trade in Old Mutual plc Shares on the UK Register, SA Register, Friday, 22 June 2018 the Namibian Register and the Zimbabwean Register Court hearing to sanction the First Scheme Wednesday, 20 June 2018 Court hearing to sanction the Second Scheme Monday, 25 June 2018 Admission of the Quilter Shares to the London Stock Exchange and 8.00 a.m. on Monday, 25 June 2018 Johannesburg Stock Exchange and commencement of unconditional dealings in Quilter Shares on the London Stock Exchange and Johannesburg Stock Exchange Admission of the Old Mutual Limited Shares to Johannesburg Stock Exchange, 8.00 a.m. on Tuesday, 26 June 2018 London Stock Exchange, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange and commencement of unconditional dealings in Old Mutual Limited Shares on all of those stock exchanges Delisting of Old Mutual plc Shares from the London Stock Exchange by 8.00 a.m. on Tuesday, 26 June 2018 Delisting of Old Mutual plc Shares from the Johannesburg Stock Exchange, Friday, 29 June 2018 the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange
Enquiries
External communications Patrick Bowes +44 20 7002 7440 Investor relations Dominic Lagan (Old Mutual plc) +44 20 7002 7190 John-Paul Crutchley (Quilter) +44 20 7002 7016 Nwabisa Piki (Old Mutual Emerging Markets) +27 11 217 1951 Media +44 20 7002 7133 William Baldwin-Charles +44 7834 524833
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.
BrightSphere Investment Group, a US based institutional asset manager, which rebranded from OM Asset Management in March 2018, is now independent from Old Mutual. The remaining underlying businesses are:
OLD MUTUAL LIMITED (which includes Old Mutual Emerging Markets): Old Mutual Limited has an ambition to become a premium financial services group in sub-Saharan Africa and offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries.
Nedbank: Nedbank ranks as a top-5 bank by capital on the African continent and Ecobank, in which Nedbank maintains a 21.2% shareholding, ranks within the top-10 banks by assets on the African continent.
Quilter: Quilter (formerly Old Mutual Wealth) is a leader in the UK and in selected offshore markets in wealth management, providing advice-led investment solutions and investment platforms to over 900,000 customers, principally in the affluent market segment.
For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of GBP2.0 billion. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutualplc.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCSEEFMLFASELI
(END) Dow Jones Newswires
May 25, 2018 02:00 ET (06:00 GMT)
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