Old Mutual Limited Result of AGM (5401O)

TIDMOMU

RNS Number : 5401O

Old Mutual Limited

01 June 2020

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 22/20

1 June 2020

RESULTS OF SHAREHOLDER VOTING AT THE ANNUAL GENERAL MEETING ("AGM")

Shareholders are advised that the ordinary and special resolutions proposed in the notice to shareholders dated April 2019, were passed by the requisite majority of votes of shareholders present in person or represented by proxy, with the exception of Ordinary Resolution 6, at the Company's AGM held on Friday, 29 May 2020.

The voting results were as follows:

 
 ORDINARY RESOLUTIONS                               TOTAL SHARES VOTED                 SHARES ABSTAINED 
                                      FOR (%)   AGAINST        NUMBER           %*            %* 
                                                  (%) 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 1: 
  To receive and adopt the 
  consolidated audited annual 
  financial statements for 
  the Company and its subsidiaries 
  for the year ended 31 
  December 2019                       100.00%     0.00%       3,292,412,078   69.92%              0.33% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 2.1: 
  To re-elect Paul Baloyi 
  as a director of the Company         83.43%    16.57%       3,303,996,176   70.17%              0.09% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 2.2: 
  To re-elect Peter de Beyer 
  as a director of the Company         97.96%     2.04%       3,303,307,871   70.16%              0.10% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 2.3: 
  To re-elect Albert Essien 
  as a director of the Company         99.46%     0.54%       3,305,220,725   70.20%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 2.4: 
  To re-elect Nosipho Molope 
  as a director of the Company         98.84%     1.16%       3,305,134,551   70.19%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 2.5: 
  To re-elect Marshall Rapiya 
  as a director of the Company         98.70%     1.30%       3,305,424,320   70.20%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 3: 
  Confirmation of appointment 
  of Iain Williamson as 
  executive director                   98.99%     1.01%       3,304,176,075   70.17%              0.08% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 4.1: 
  To elect Paul Baloyi as 
  a member of the Audit 
  committee                            66.74%    33.26%       3,303,741,804   70.16%              0.09% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 4.2: 
  To elect Peter de Beyer 
  as a member of the Audit 
  committee                            98.00%     2.00%       3,305,044,921   70.19%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 4.3: 
  To elect Itumeleng Kgaboesele 
  as a member of the Audit 
  committee                            98.62%     1.38%       3,304,914,426   70.19%              0.07% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 4.4: 
  To elect John Lister as 
  a member of the Audit 
  committee                            98.91%     1.09%       3,305,046,654   70.19%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 4.5: 
  To elect Nosipho Molope 
  as a member of the Audit 
  committee                            99.84%     0.16%       3,304,906,496   70.19%              0.07% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 5.1: 
  To appoint Deloitte & 
  Touche as joint independent 
  auditors until the conclusion 
  of the next AGM of the 
  Company                              97.20%     2.80%       3,304,491,860   70.18%              0.08% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 5.2: 
  To appoint KPMG Inc. as 
  joint independent auditors 
  until the conclusion of 
  the next AGM of the Company          68.92%    31.08%       3,303,833,258   70.17%              0.09% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 6: 
  To grant general authority 
  to the directors to allot 
  and issue ordinary shares 
  for cash                             69.07%    30.93%       3,302,881,620   70.15%              0.05% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 7.1: 
  Non-binding advisory vote 
  on the Company's remuneration 
  policy                               92.29%     7.71%       2,768,756,357   58.80%             11.45% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 7.2: 
  Non-binding advisory vote 
  on the Company's remuneration 
  implementation report                73.77%    26.23%     3,296,720,416     70.02%              0.24% 
                                     --------  --------  ------------------  -------  ----------------- 
 Ordinary Resolution 8: 
  To authorise any director 
  or the Group Company Secretary 
  to implement the ordinary 
  resolutions above as well 
  as the special resolutions 
  to follow                            99.95%     0.05%       3,305,066,834   70.19%              0.06% 
                                     --------  --------  ------------------  -------  ----------------- 
 Special Resolution 1: 
  To approve the remuneration 
  payable to certain non-executive 
  directors                            96.87%     3.13%       3,302,538,229   70.14%              0.12% 
                                     --------  --------  ------------------  -------  ----------------- 
 Special Resolution 2: 
  To grant general authority 
  to acquire the Company's 
  own ordinary shares                  99.43%     0.57%       3,303,247,814   70.15%              0.04% 
                                     --------  --------  ------------------  -------  ----------------- 
 Special Resolution 3: 
  To approve the provision 
  of financial assistance 
  to subsidiaries and other 
  related and inter-related 
  entities and to directors, 
  prescribed officers and 
  other persons participating 
  in share or other employee 
  incentive schemes                    98.01%     1.99%       3,304,934,832   70.19%              0.07% 
                                     --------  --------  ------------------  -------  ----------------- 
 Special Resolution 4: 
  To amend the authorised 
  share capital of the Company 
  and the Company's MOI, 
  and to place unissued 
  preference shares under 
  the control of the directors         98.12%     1.88%       3,302,472,486   70.14%              0.12% 
                                     --------  --------  ------------------  -------  ----------------- 
 

*as a percentage of total number of shares in issue 4,708,553,649 as at 22 May 2020.

With regards to the non-binding advisory resolution, Ordinary Resolution 7.2, being the Remuneration Implementation Report, which received less than the required 75% of votes, Old Mutual will directly engage with shareholders, the timing of which will be advised to shareholders in due course.

Sandton

Sponsors

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

Enquiries

 
 Investor Relations 
 Sizwe Ndlovu                  T: [phone] 
  Head of Investor Relations    E: [e-mail] 
 
 Tokelo Mulaudzi               T: [phone] 
 Investor Relations Manager    E: [e-mail] 
 
 Communications 
 Tabby Tsengiwe                T: [phone] 
  Head of Communications        M: [phone] 
                                E: [e-mail] 
 

Notes to Editors

Old Mutual is a premium African financial services Group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and we have a niche business in China. With 175 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent.

For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.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 [e-mail] or visit www.rns.com.

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June 01, 2020 06:30 ET (10:30 GMT)