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OML
OLOML
OML - Old Mutual Plc - Annual General Meeting 2012 - Update on use of proceeds
of fractions resulting from recent share consolidation and results of
shareholder voting
OLD MUTUAL PLC
ISIN CODE: GB00B77J0862
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Ref 38/12
Old Mutual plc Annual General Meeting 2012 - Update on use of proceeds of
fractions resulting from recent share consolidation and results of shareholder
voting
At the Annual General Meeting of Old Mutual plc held in London earlier today,
the Chairman of the Company, Patrick O`Sullivan, gave an update on how the
Company has dealt with the fractions that arose as a result of the recent 7-for-
8 share consolidation. He confirmed that, in line with the arrangements
described in the shareholder circular relating to the disposal of the Group`s
Nordic business, the proceeds of these fractional shares will be used for
charitable purposes. The proceeds of sale of the fractions will be paid over to
the Old Mutual Foundations located in the UK, South Africa, Malawi, Zimbabwe and
Namibia respectively to be used in conjunction with the special dividends that
those Foundations will receive on the shares that they hold in the Company.
Working together, the Foundations will be investing these monies into various
specific educational programmes. The total additional amount to be distributed
among the Foundations is expected to be approximately GBP1.5 million, which is
made up of approximately GBP1.3 million from the special dividend and about
GBP200,000 from the proceeds of the fractional shares.
As far as the formal business of the AGM is concerned, all of the resolutions
set out in the Notice of Meeting were voted on by a poll, and the results of the
votes cast were as follows:
ORDINARY RESOLUTIONS
Resolution 1, to receive and adopt the directors` report and audited
financial statements of the Group for the year ended 31 December
2011
Votes in favour % of votes cast % of total shares eligible
to vote
3,167,341,962 99.94 67.42
Votes against % of votes cast % of total shares eligible
to vote
2,004,618 0.06 0.04
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,169,346,580 67.46 3,458,947
Resolution 2, to declare a final dividend of 3.5p per ordinary share
of 10p in the capital of the Company on the register at the close of
business on 20 April 2012
Votes in favour % of votes cast % of total shares eligible
to vote
3,169,736,083 99.99 67.47
Votes against % of votes cast % of total shares eligible
to vote
289,116 0.01 0.01
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,170,025,199 67.48 2,802,747
Resolution 3(i), to elect Nku Nyembezi-Heita as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,069,812,391 97.03 65.34
Votes against % of votes cast % of total shares eligible
to vote
93,884,728 2.97 2.00
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,163,697,119 67.34 9,130,496
Resolution 3(ii), to re-elect Mike Arnold as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,148,876,167 99.56 67.03
Votes against % of votes cast % of total shares eligible
to vote
14,005,911 0.44 0.30
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,162,882,078 67.33 9,943,308
Resolution 3(iii), to re-elect Philip Broadley as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,151,033,278 99.55 67.07
Votes against % of votes cast % of total shares eligible
to vote
14,125,510 0.45 0.30
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,165,158,788 67.37 7,668,802
Resolution 3(iv), to re-elect Eva Castillo as a director of the
Company.
Votes in favour % of votes cast % of total shares eligible
to vote
3,146,631,024 99.48 66.98
Votes against % of votes cast % of total shares eligible
to vote
16,475,082 0.52 0.35
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,163,106,106 67.33 9,721,684
Resolution 3(v), to re-elect Russell Edey as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,138,593,059 99.39 66.81
Votes against % of votes cast % of total shares eligible
to vote
19,155,054 0.61 0.41
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,157,748,113 67.22 15,077,626
Resolution 3(vi), to re-elect Alan Gillespie as a director of the
Company.
Votes in favour % of votes cast % of total shares eligible
to vote
3,134,643,774 99.26 66.72
Votes against % of votes cast % of total shares eligible
to vote
23,342,201 0.74 0.50
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,157,985,975 67.22 14,839,865
Resolution 3(vii), to re-elect Reuel Khoza as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,046,705,940 97.55 64.85
Votes against % of votes cast % of total shares eligible
to vote
76,436,619 2.45 1.63
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,123,142,559 66.48 49,685,031
Resolution 3(viii), to re-elect Roger Marshall as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,150,975,424 99.56 67.07
Votes against % of votes cast % of total shares eligible
to vote
13,862,218 0.44 0.30
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,164,837,642 67.37 7,989,948
Resolution 3(ix), to re-elect Bongani Nqwababa as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,148,151,321 99.67 67.01
Votes against % of votes cast % of total shares eligible
to vote
10,413,184 0.33 0.22
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,158,564,505 67.23 14,263,085
Resolution 3(x), to re-elect Patrick O`Sullivan as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,157,184,826 99.79 67.20
Votes against % of votes cast % of total shares eligible
to vote
6,798,370 0.21 0.14
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,163,983,196 67.35 8,844,394
Resolution 3(xi), to re-elect Lars Otterbeck as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,138,262,232 99.28 66.80
Votes against % of votes cast % of total shares eligible
to vote
22,849,151 0.72 0.49
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,161,111,383 67.29 11,714,356
Resolution 3(xii), to re-elect Julian Roberts as a director of the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,066,199,049 96.83 65.27
Votes against % of votes cast % of total shares eligible
to vote
100,398,942 3.17 2.14
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,166,597,991 67.40 6,229,337
Resolution 4, to re-appoint KPMG Audit Plc as auditors to the
Company
Votes in favour % of votes cast % of total shares eligible
to vote
3,166,644,967 99.91 67.41
Votes against % of votes cast % of total shares eligible
to vote
2,741,658 0.09 0.06
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,169,386,625 67.46 3,437,547
Resolution 5, to authorise the Group Audit Committee to settle the
remuneration of the auditors
Votes in favour % of votes cast % of total shares eligible
to vote
3,167,173,783 99.94 67.42
Votes against % of votes cast % of total shares eligible
to vote
1,863,391 0.06 0.04
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,169,037,174 67.46 3,787,975
Resolution 6, to approve the Remuneration Report
Votes in favour % of votes cast % of total shares eligible
to vote
2,846,756,024 90.01 60.60
Votes against % of votes cast % of total shares eligible
to vote
315,798,433 9.99 6.72
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,162,554,457 67.32 10,273,283
Resolution 7, to grant authority to the Board to allot certain
shares for cash
Votes in favour % of votes cast % of total shares eligible
to vote
2,740,129,001 86.50 58.33
Votes against % of votes cast % of total shares eligible
to vote
427,800,332 13.50 9.10
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,167,929,333 67.43 4,897,214
SPECIAL RESOLUTIONS
Resolution 8, to grant authority to disapply pre-emption rights in
allotting certain equity securities and selling treasury shares
Votes in favour % of votes cast % of total shares eligible
to vote
2,975,903,643 94.32 63.35
Votes against % of votes cast % of total shares eligible
to vote
179,088,442 5.68 3.81
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,154,992,085 67.16 17,834,955
Resolution 9, to grant the Board authority to repurchase shares by
market purchase on the London Stock Exchange
Votes in favour % of votes cast % of total shares eligible
to vote
3,118,064,619 98.64 66.37
Votes against % of votes cast % of total shares eligible
to vote
42,924,422 1.36 0.91
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,160,989,041 67.29 11,839,150
Resolution 10, to approve contingent purchase contracts relating to
purchases of shares on the African stock exchanges where the
Company`s shares are listed
Votes in favour % of votes cast % of total shares eligible
to vote
3,127,282,050 98.83 66.57
Votes against % of votes cast % of total shares eligible
to vote
36,902,427 1.17 0.79
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,164,184,477 67.35 8,644,248
Resolution 11, to approve amendments to the Company`s Articles of
Association to address the introduction of Dividends Tax in South
Africa
Votes in favour % of votes cast % of total shares eligible
to vote
3,170,658,627 99.97 67.49
Votes against % of votes cast % of total shares eligible
to vote
1,001,431 0.03 0.02
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,171,660,058 67.51 1,168,732
Resolution 12, to authorise the Company to convene general meetings,
other than Annual General Meetings, on 14 days` notice
Votes in favour % of votes cast % of total shares eligible
to vote
2,561,821,876 80.77 54.53
Votes against % of votes cast % of total shares eligible
to vote
609,802,021 19.23 12.98
Total votes cast % of total shares Votes withheld
(excluding votes eligible to vote
withheld)
3,171,623,897 67.51 1,204,893
All the above resolutions were therefore duly passed.
Notes to the above table:
Votes in favour include proxy votes where the Chairman was give discretion how
to vote.
Votes withheld are not counted in the calculation of the proportion of votes for
or against a resolution.
The total shares eligible to vote was 4,697,898,127, being the total number of
shares in issue at today`s date, namely 4,872,098,141, less 174,200,014 shares
beneficially held by life subsidiaries of the Company that are not eligible to
be voted while so held.
In accordance with Listing Rules 9.6.2R and 9.6.3R, the full text of the
resolutions passed, other than resolutions concerning ordinary business, has
been submitted to the National Storage Mechanism and will shortly be available
for inspection at www.Hemscott.com/nsm.do
Enquiries
External Communications / Investor Relations
Patrick Bowes +44 (0)20 7002
7440
Kelly de Kock +27 (0)21 509 8709
Media
William Baldwin- +44 (0)20 7002
Charles 7133
10 May 2012
Sponsor:
Merrill Lynch South Africa (Pty) Limited
Notes to Editors
Old Mutual
Old Mutual is an international long-term savings, protection and investment
Group. Originating in South Africa in 1845, the Group provides life assurance,
asset management, banking and general insurance to more than 12 million
customers in Europe, the Americas, Africa and Asia. Old Mutual has been listed
on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2011, the Group reported adjusted operating profit
before tax of GBP1.5 billion (on an IFRS basis) and had GBP267 billion of funds
under management from core operations.
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
Date: 10/05/2012 17:20:03 Produced by the JSE SENS Department.
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