OMLACSA new financial instrument

RNS Number : 8121P
Old Mutual Limited
22 June 2022
 

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

LSE Share Code: OMU

MSE Share Code: OMU

NSX Share Code: OMM

ZSE Share Code: OMU

("Old Mutual" or "the Company")

 

 

Ref 23/22

22 June 2022

 

NEW FINANCIAL INSTRUMENT LISTING AND NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008 OF THE GRANTING OF FINANCIAL ASSISTANCE BY OLD MUTUAL

 

Shareholders of the Company are referred to the announcement released on the Stock Exchange News Service this afternoon, 22 June 2022 under the Old Mutual Life Assurance Company (South Africa) Limited ("OMLACSA") code, OLDM, advising that the JSE has granted a listing to OMLACSA of its unsecured floating rate note of R1,110,000,000 in terms of its R25,000,000,000 Multi-Issuer Note Programme ("the Programme"), as guaranteed by Old Mutual Limited, dated 4 March 2020 (the "Guarantee").

 

The above Guarantee constitutes financial assistance as define in section 45(1) of the Companies Act 71 of 2008 (the "Companies Act") and accordingly notice is hereby given that the board of directors of the Company (the "Board")adopted resolutions to provide financial assistance as contemplated in section 45(1) of the Companies Act, for amounts and on such terms and conditions as determined by the board, pursuant to the authorities granted in terms of the special resolution adopted by shareholders at the annual general meeting of the Company held on 27 May 2022 authorising the board of the directors of the Company to provide direct or indirect financial assistance by way of a loan, guarantee, the provision of security to any of its present or future  subsidiaries and/or any other company or entity that is or becomes related or inter-related to the Company or any of its subsidiaries, and/ or to any member of such subsidiary or related or inter-related company or entity.

 

In accordance with section 45(3)(b) of the Companies Act, the Board advises that is satisfied and acknowledges, in respect of the financial assistance, that:

-  immediately after providing such financial assistance, Old Mutual would have satisfied the solvency and liquidity test as provided in section 4 of the Companies Act; and

-  the terms under which the financial assistance has been given are fair and reasonable to the Company. 

Shareholders are advised that the total facility value, if utilised, will exceed 1/10th (one tenth) of 1% (one percent) of the Company's net worth as at the date of the last Board meeting, being 27 August 2021.

 

 

Sandton

 

Sponsors

Johannesburg Stock Exchange

Merrill Lynch South Africa (Pty) Limited ta BofA Securities

Namibia

PSG Wealth Management (Namibia) (Proprietary) Limited

Zimbabwe

Imara Capital Zimbabwe plc

Malawi

Stockbrokers Malawi Limited

 

Enquiries

Investor Relations


Sizwe Ndlovu

Head of Investor Relations

T: +27 (0)11 217 1163

E: tndlovu6@oldmutual.com



Communications


Vuyo Mtawa

M: +27 68 422 8125

  Head: Group Communications  E: vmtawa@oldmutual.com

 

Notes to Editors

 

About Old Mutual Limited

Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has a niche business in China. With over 177 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities we serve and broader society on the continent.

 

For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBGGDLSDDDGDD
UK 100

Latest directors dealings