OMAM announces pricing of offering
Old Mutual plc
Ref 461/15
17 June 2015
OM Asset Management announces pricing of offering of ordinary shares
OM Asset Management plc ("OMAM") announced today the pricing of an underwritten public offering of 13,300,000 of its ordinary shares at a public offering price of $17.50 per share. The offering is expected to close on 22 June 2015.
The shares are being offered by Old Mutual plc ("Old Mutual") and proceeds from the proposed offering are expected to be used for general corporate purposes. In addition, Old Mutual has granted the underwriters a 30-day option to purchase up to an additional 1,995,000 shares at the public offering price, less the underwriting discount. OMAM will not sell any shares in the offering and will not receive any proceeds from the sale of the shares.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup, and Credit Suisse Securities (USA) LLC are acting as joint bookrunning managers for the offering.
A registration statement on Form S-1 relating to the ordinary shares being sold in this offering was declared effective by the Securities and Exchange Commission on 16 June 2015. A preliminary prospectus relating to the offering has been filed with the SEC, and a final prospectus relating to the offering will be filed with the SEC.
Copies of the final prospectus relating to the offering may be obtained, when available, from: BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email: dg.prospectus_requests@baml.com or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014 or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, e-mail: newyork.prospectus@credit-suisse.com. The prospectus may also be obtained, when available, for free, by visiting the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Enquiries
External communications
Patrick Bowes UK +44 20 7002 7440
Investor relations
Dominic Lagan UK +44 20 7002 7190
Sizwe Ndlovu SA +27 11 217 1163
Media
William Baldwin-Charles +44 20 7002 7133
+44 7834 524833
Notes to Editors
About Old Mutual plc
Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com
About OMAM
OMAM is a global, multi-boutique asset management company with $224.0 billion of assets under management as of 31 March 2015. Its diverse Affiliates offer leading, alpha generating investment products to investors around the world. OMAM's partnership approach, which includes equity ownership at the Affiliate level and a profit sharing relationship between OMAM and its Affiliates, aligns the interests of OMAM and its Affiliates to work collaboratively in accelerating their growth. OMAM's business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm.
Forward-Looking Statements
The information in this release contains forward-looking information that involves substantial risks and uncertainties regarding the proposed offering. Such risks and uncertainties include, among other things, the possibility that the proposed offering will not be completed within a particular time frame or at a particular offering amount, or at all, including as a result of regulatory, market or other factors. Old Mutual assumes no obligation to update forward-looking statements contained in this release as the result of new information, future events or developments.
This information is provided by RNS
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