ISIN CODE: GB0007389926
SHARE CODE: OML
ISSUER CODE: OLOML
Nedcor Limited (NED SJ)
Recommended offer by Nedcor to acquire BoE for R7.3 billion and joint
cautionary announcement
Nedcor Ltd ("Nedcor"), the South African banking group, in which Old Mutual
plc ("Old Mutual") has a 53% holding, has today issued a recommended offer
to acquire BoE for R7.3 billion subject to conditions set out in their
announcement.
Old Mutual, representing the majority of the Nedcor ordinary shares, has
agreed to vote in favour of all shareholder resolutions of Nedcor required
to implement the Scheme. Upon completion of the Transaction, Nedcor will
continue to be a subsidiary of Old Mutual.
The full text of the Nedcor announcement is available on SENS, the JSE
Securities Exchange News Service and on Old Mutual's website,
www.oldmutual.com.
22 April 2002
ENQUIRIES:
Old Mutual, London Tel: + 44 20 7569 0100
James Poole
Zoleka Mzimba
College Hill, London Tel: + 44 20 7457 2020
Tony Friend
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