| Fri 10 Feb 2006, 8:38 | | Old Mutual Plc - Update on acceptances of Skandia |
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OML
OLOML
Old Mutual Plc - Update on acceptances of Skandia offer and extension of final
closing
Old Mutual Plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
OLD MUTUAL PLC
This announcement and the information contained herein are restricted and are
not for release, publication or distribution, in whole or in part, in or into
the United States, Canada, Australia or Japan
Update on acceptances of Skandia offer and extension of final closing
date to 14 March 2006
Old Mutual plc ("Old Mutual") is pleased to announce that acceptances of its
Offer for shares and votes in Forsakringsaktiebolaget Skandia (publ) ("Skandia")
are in excess of 88 per cent on a fully diluted basis at close of business on 9
February 2006, including those still subject to settlement and validation as
"late trades".
Following the announcement released late on 8 February 2006 by the Swedish
Shareholders Association (Sw. Aktiespararna) advising smaller shareholders to
sell their Skandia shares, Old Mutual has decided to extend its Offer until a
final closing date of 14 March 2006 so as to allow time for remaining
shareholders in Skandia who wish to accept the Offer to do so. The terms of
the Offer remain as previously announced.
Settlement in respect of valid acceptances received by 9 February 2006 is
expected to take place on 17 February 2006 and an update on validated acceptance
levels will be provided shortly. Settlement of valid acceptances received by
14 March 2006 is expected to take place on 22 March 2006.
Skandia and Old Mutual will be publishing their preliminary results for the
period ended 31 December 2005 on 21 February 2006 and 27 February 2006
respectively.
10 February 2006
ENQUIRIES:
Old Mutual plc
Malcolm Bell - Investor Relations (UK) + 44 (0) 20 7002 7166
Miranda Bellord - Media Relations (UK) + 44 (0) 20 7002 7133
Deward Serfontein - Investor Relations (SA) + 27 21 509 8709
Nad Pillay - Media Relations (SA) + 27 11 523 9612
College Hill
Alex Sandberg +44 (0) 20 7457 2020
Tony Friend +44 (0) 20 7457 2020
For further information about Old Mutual plc visit www.oldmutual.com
Deutsche Bank, which is authorised by Bundesanstalt fur
Finanzdiensleistungsaufsicht (BaFin) and by the Financial Services Authority and
is regulated by the Financial Services Authority for the conduct of UK business,
is acting for Old Mutual plc and no one else in connection with the Transaction
and will not regard any other person (whether or not a recipient of this
announcement) as its client in relation to the Transaction and will not be
responsible for providing the protections afforded to its clients nor for giving
advice in relation to the Transaction or any transaction or arrangement referred
to, or information contained in this announcement.
Merrill Lynch International is acting for Old Mutual plc and no one else in
connection with the Transaction and will not regard any other person (whether or
not a recipient of this announcement) as its client in relation to the
Transaction and will not be responsible for providing the protections afforded
to its clients nor for giving advice in relation to the Transaction or any
transaction or arrangement referred to, or information contained in this
announcement.
Lazard & Co., Limited is acting for Old Mutual plc and no one else in connection
with the Transaction and will not regard any other person (whether or not a
recipient of this announcement) as its client in relation to the Transaction and
will not be responsible for providing the protections afforded to its clients
nor for giving advice in relation to the Transaction or any transaction or
arrangement referred to, or information contained in this announcement.
The Offer, all acceptances and withdrawals thereof or pursuant thereto and all
contracts made pursuant thereto and action taken or made or deemed to be taken
or made under any of the foregoing shall be governed by and construed in
accordance with Swedish law.
The Offer is, subject to certain exceptions, not being made, directly or
indirectly, in or into the United States, Canada, Australia, Japan or any other
jurisdiction where to do so would constitute a violation of the laws of such
jurisdiction, or by use of the mails or by any means or instrumentality
(including without limitation, facsimile transmission, telephone and the
internet) of interstate or foreign commerce, or any facility of a national
securities exchange, of the United States, Canada, Australia or Japan.
Accordingly, copies of this announcement or any accompanying documents are not
being, directly or indirectly, mailed or otherwise distributed, forwarded or
transmitted in, into or from the United States. Any persons receiving such
documents (including, without limitation, custodians, nominees and trustees)
should observe these restrictions and should not, subject to certain exceptions,
mail or otherwise distribute, forward or transmit them in, into or from the
United States or any other jurisdiction where to do so would constitute a
violation of the laws of such jurisdiction, or use such means, instrumentality
or facility in connection with the Offer, and so doing may render invalid any
related purported acceptance of the Offer. Any persons (including, without
limitation, custodians, nominees and trustees) who would or otherwise intend to,
or may have a contractual or other legal obligation to, forward this
announcement or any accompanying documents to the United States should seek
appropriate advice before taking any action.
These materials are not for distribution, directly or indirectly, in or into the
United States. They are not an offer of securities for sale into the United
States. There will be no public offer of the Old Mutual Shares in the United
States.
The New Old Mutual Shares have not been, and will not be, registered under the
US Securities Act of 1933 (the "Securities Act") or with any securities
regulatory authority of any state or other jurisdiction of the United States or
under the applicable securities laws of Canada, Australia and Japan.
Accordingly, subject to certain exceptions, the New Old Mutual Shares may not be
offered or sold within the United States or Canada, Australia and Japan or any
other jurisdiction where to do so would
Date: 10/02/2006 08:38:06 AM Produced by the JSE SENS Department
