Old Mutual Plc - Discussions With Skandia
OLD MUTUAL PLC
ISIN: GB0007389926
JSE Share code: OML
NSX share code: OLM
Issuer code: OLOML
NOT FOR DISTRIBUTION OR PUBLICATION IN OR INTO THE UNITED STATES
Discussions with Skandia
Old Mutual plc notes the recent press speculation concerning a
possible offer for Skandia. Old Mutual confirms that it has held
discussions with Skandia and a number of Skandia`s major shareholders
during the course of the past week concerning a possible offer at a
price of approximately SEK42 per share comprising 40 per cent. in
cash and 60 per cent. in Old Mutual shares and believes after
discussions with these large shareholders that a majority of them
would welcome such a proposal. Old Mutual is keen to secure a
recommendation from the Board of Skandia and is considering selected
modifications to the proposal to address issues raised by the Board
of Skandia.
A further announcement will be made as soon as possible.
This press release does not constitute a public offer for shares or
other financial instruments under the Swedish takeover rules or
otherwise.
These materials are not an offer to purchase or sell securities in
the United States.
29 August 2005
ENQUIRIES:
Old Mutual plc
Andrew Parkins Investor Relations - +44 (0) 20 7002 7264
Miranda Bellord Media Relations - +44 (0) 20 7002 7133
College Hill
Alex Sandberg +44 (0) 20 7457 2020 / +44 (0) 7831 851 844 (Mob)
Tony Friend +44 (0) 20 7457 2020 / +44 (0) 7798 864 995 (Mob)
For further details about Old Mutual plc visit www.oldmutual.com
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