OML/OLM - Old Mutual Plc - Share buyback programme
OML
OLOML
OML/OLM - Old Mutual Plc - Share buyback programme
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Share buyback programme
The Board of Old Mutual plc ("the Company") is pleased to announce that the
Company proposes to implement a share buyback programme, as indicated at the
time of the publication of Group`s interim results on 10 August 2007. This
action is part of the Company`s ongoing commitment to balance sheet and capital
efficiency and the creation of shareholder value.
The Company now intends to repurchase shares to a total value of approximately
GBP350 million. The transactions will be a combination of on-market purchases
on the London Stock Exchange and purchases on the JSE Limited pursuant to one of
the contingent purchase contracts approved by shareholders at this year`s Annual
General Meeting. The repurchases will be financed using the Company`s internal
resources.
The Company plans to hold the shares repurchased under this programme in
treasury.
Enquiries
Investor Relations
Aleida van Herel UK +44 (0)20 7002 7287
Deward Serfontein SA + 27 (0) 21 509 8709
Media
James Crampton UK +44 (0)20 7002 7133
Nad Pillay SA +27 (0)82 553 7980
College Hill
Alex Sandberg +44 (0)20 7457 2020
Tony Friend
Old Mutual
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
Sponsor
Merrill Lynch
3 October 2007
Date: 03/10/2007 08:30:01 Produced by the JSE SENS Department.
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