| Fri 5 Jun 2009, 11:15 | | OML - Old Mutual PLC - Update On Disposal Of JV Interests |
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OML
OLOML
OML - Old Mutual PLC - Update On Disposal Of JV Interests
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
UPDATE ON DISPOSAL OF JV INTERESTS
Nedbank Group Limited ("Nedbank Group" or the "Company"), the 55%-owned South
African banking subsidiary of Old Mutual plc has today made the following
announcement.
Results of General Meeting
Members are advised that at the general meeting of members of Nedbank Group held
on Friday, 5 June 2009, the resolution relating to the placing of 12 855 359
ordinary shares in the authorised but unissued ordinary share capital of the
Company under the authority and control of the board of directors for issue to
Old Mutual plc and its wholly owned subsidiaries ("Old Mutual Group") in respect
of the acquisition by Nedbank Group of Old Mutual Group interests in BoE
(Proprietary) Limited, Nedgroup Life Assurance Company Limited and Fairbairn
Private Bank Limited, was passed by a 90.25% majority of shareholders present
and voting. Shareholders representing 29.68% of the issued ordinary share
capital in Nedbank Group were present in person or by proxy at the meeting.
The acquisition will become unconditional when the last condition precedent, as
set out in the announcement on 15 May 2009, has been fulfilled.
As indicated in the circular posted to members on Tuesday, 19 May 2009, Old
Mutual plc abstained from voting at the general meeting.
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
Enquiries
Investor Relations
Patrick Bowes UK +44 (0)20 7002 7440
Aleida White UK +44 (0)20 7002 7287
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew UK / SA +44 (0)20 7002 7133
Gregorowski
+44 (0)7748 183 834
Don Hunter UK +44 (0)20 7251 3801
(Finsbury)
5 June 2009
Sponsor
Merrill Lynch South Africa (Pty) Limited
Notes to Editors
Old Mutual
Old Mutual plc is a leading international long-term savings Group. Originating
in South Africa in 1845, the Group provides life assurance, asset management,
banking and general insurance in over 40 countries in Europe, the Americas,
Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the
JSE, among others.
In the year ended 31 December 2008, the Group reported adjusted operating profit
of GBP1.0 billion (on an IFRS basis) and had GBP265 billion of funds under
management at the year end. The Group has approximately 57,000 employees.
Date: 05/06/2009 11:15:02 Produced by the JSE SENS Department.
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