| Mon 19 Oct 2009, 10:12 | | OML - Old Mutual Plc - Proposed Acquisition Of The Remaining Minority |
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OML
OLOML
OML - Old Mutual Plc - Proposed Acquisition Of The Remaining Minority
Shareholding In Mutual & Federal
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
PROPOSED ACQUISITION OF THE REMAINING MINORITY SHAREHOLDING IN MUTUAL & FEDERAL
Old Mutual plc ("Old Mutual") welcomes today`s announcement by the board of
directors of Mutual & Federal Insurance Company Limited ("Mutual & Federal")
confirming their intention to vote in favour of the Offer in respect of their
own shareholdings in Mutual & Federal and their recommendation that Mutual &
Federal shareholders do likewise.
Old Mutual continues to progress the proposed acquisition and is working with
Mutual & Federal management on all aspects of the transaction.
A separate announcement regarding the Offer has been released today on the JSE
Limited by Mutual & Federal and can be found on Mutual & Federal`s website at
www.mf.co.za
For further information on Old Mutual, please visit the corporate website at
www.oldmutual.com
Enquiries
Old Mutual plc Investor Relations
Patrick Bowes UK +44 (0) 20 7002 7440
Deward Serfontein SA +27 (0) 82 810 5672
Old Mutual plc Media
Matthew Gregorowski UK / SA +44 (0) 20 7002 7133
+44 (0) 7748 183 834
Don Hunter (Finsbury) UK +44 (0) 20 7251 3801
Sponsor
Merrill Lynch South Africa (Pty) Limited
Note
"Offer" refers to Old Mutual`s firm intention to make an offer, in terms of the
South African Securities Regulation Code on Takeovers and Mergers, to acquire
all the ordinary shares in Mutual & Federal that it or its subsidiaries do not
currently beneficially own, to be implemented by way of a scheme of arrangement
in terms of section 311 of the South African Companies Act, 1973 as announced on
14 October 2009.
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 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: 19/10/2009 10:12:49 Produced by the JSE SENS Department.
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