Old Mutual Limited Result of AGM (4847Z)

TIDMOMU

RNS Number : 4847Z

Old Mutual Limited

21 May 2021

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 14/21

21 May 2021

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 2021, were passed by the requisite majority of votes of shareholders present in person or represented by proxy at the Company's AGM held on Friday, 21 May 2021.

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 2020             99.982%    0.018%      3 406 772 459   72.353%              0.13% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.1 
  - To re-elect Trevor Manuel 
  as a director of the Company       99.627%    0.373%      3 407 003 410   72.358%              0.13% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.2 
  - To re-elect Itumeleng 
  Kgaboesele as a director 
  of the Company                     91.728%    8.272%      3 406 990 319   72.357%              0.13% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.3 
  - To re-elect Marshall 
  Rapiya as a director of 
  the Company                        99.910%    0.090%      3 406 802 105   72.353%              0.13% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.4 
  - To elect Brian Armstrong 
  as a director of the Company       99.918%    0.082%      3 406 640 241   72.350%              0.14% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.5 
  - To elect Olufunke Ighodaro 
  as a director of the Company       81.176%   18.824%      3 405 805 830   72.332%              0.15% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.6 
  - To elect Jaco Langner 
  as a director of the Company       92.157%    7.843%      3 404 702 285   72.309%              0.18% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 2.7 
  - To elect Nomkhita Nqweni 
  as a director of the Company       99.911%    0.089%      3 405 811 313   72.332%              0.15% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.1 
  - To elect Olufunke Ighodaro 
  as a member of the Audit 
  committee                          81.646%   18.354%      3 405 817 140   72.333%              0.15% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.2 
  - To elect Itumeleng Kgaboesele 
  as a member of the Audit 
  committee                          99.439%    0.561%      3 406 264 579   72.342%              0.14% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.3 
  - To elect Jaco Langner 
  as a member of the Audit 
  committee                          99.895%    0.105%      3 405 059 526   72.316%              0.17% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.4 
  - To elect John Lister 
  as a member of the Audit 
  committee                          99.788%    0.212%      3 406 080 752   72.338%              0.15% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.5 
  - To elect Nosipho Molope 
  as a member of the Audit 
  committee                          81.588%   18.412%      3 406 297 161   72.343%              0.14% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 3.6 
  - To elect Nomkhita Nqweni 
  as a member of the Audit 
  committee                          98.574%    1.426%      3 405 794 159   72.332%              0.15% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 4.1 
  - To reappoint Deloitte 
  & Touche as joint independent 
  auditors until the conclusion 
  of the next AGM of the 
  company                            98.641%    1.359%      3 407 822 905   72.375%              0.11% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 4.2 
  - To reappoint KPMG Inc. 
  as joint independent auditors 
  until the conclusion of 
  the next AGM of the Company        70.593%   29.407%      3 407 629 436   72.371%              0.12% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 5.1 
  - Non-binding advisory 
  vote on the Company's 
  remuneration policy                54.454%   45.546%      3 402 600 218   72.264%              0.22% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 5.2 
  - Non-binding advisory 
  vote on the Company's 
  remuneration implementation 
  report                             67.495%   32.505%      3 402 635 451   72.265%              0.22% 
                                    --------  --------  -----------------  --------  ----------------- 
 Ordinary Resolution 6 
  - To authorise any director 
  or the Group Company Secretary 
  to implement the ordinary 
  resolutions above as well 
  as the special resolutions 
  to follow                          99.338%    0.662%      3 408 272 945   72.385%              0.10% 
                                    --------  --------  -----------------  --------  ----------------- 
 Special Resolution 1 - 
  To approve the remuneration 
  payable to non-executive 
  directors                          98.116%    1.884%      3 403 903 125   72.292%              0.19% 
                                    --------  --------  -----------------  --------  ----------------- 
 Special Resolution 2 - 
  To grant general authority 
  to acquire the Company's 
  own ordinary shares                99.946%    0.054%      3 396 868 928   72.143%              0.08% 
                                    --------  --------  -----------------  --------  ----------------- 
 Special Resolution 3 - 
  To approve the provisions 
  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                  78.879%   21.121%      3 403 378 527   72.281%              0.21% 
                                    --------  --------  -----------------  --------  ----------------- 
 

*as a percentage of total number of shares in issue 4,708,553,649 as at 9 May 2021.

The Board is disappointed with the outcome of the voting on the 2020 Remuneration Policy and Implementation Report following the significant improvement in the voting outcome for the 2019 report.

"The economic uncertainty created by the COVID-19 pandemic and the impact on business performance made 2020 a challenging year to set and implement competitive remuneration policies. We have engaged extensively with shareholders to understand their concerns and we recognise the fine balance between remuneration outcomes which continue to motivate and retain our best people whilst remaining aligned to shareholders' interests," said Itumeleng Kgaboesele, Chairman of the Remuneration committee.

The Group will continue engaging directly with shareholders to understand their exact issues and concerns so that appropriate decisions can be made with respect to remuneration policy and implementation for the current and future years. The Group will extend an invitation to shareholders through a SENS announcement setting out the manner and the timing of the engagement in due course.

"We remain committed to the continued improvement of our remuneration policies and practices through open and transparent engagement with all stakeholders." concludes Kgaboesele.

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] 
 
 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 over 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 .

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May 21, 2021 10:15 ET (14:15 GMT)