Results of shareholder voting at GM
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or "the Company")
Ref 38/22
12 August 2022
RESULTS OF SHAREHOLDER VOTING AT THE GENERAL MEETING ("GM") - OLD MUTUAL BULA TSELA TRANSACTION
Shareholders are referred to the announcement dated 13 July 2022 regarding the distribution of the circular and notice of general meeting regarding the Company's transformative B-BBEE ownership transaction named Old Mutual Bula Tsela ("Transaction").
Old Mutual is pleased to advise shareholders that the ordinary and special resolutions regarding the Transaction, were passed by the requisite majority of votes of shareholders present in person or represented by proxy at the GM held on Friday, 12 August 2022.
The voting results were as follows:
|
RESOLUTIONS |
TOTAL SHARES VOTED |
SHARES ABSTAINED |
|||
|
FOR (%) |
AGAINST (%) |
NUMBER |
%* |
%* |
|
|
Ordinary Resolution Number 1 - Authority for specific issues of shares for cash |
99.88% |
0.12% |
2,968,938,694 |
63.05% |
0.45% |
|
Special Resolution Number 1 - Authority for financial assistance |
99.95% |
0.05% |
2,968,948,475 |
63.05% |
0.45% |
|
Special Resolution Number 2 - Authority for future specific repurchases |
99.96% |
0.04% |
2,973,779,024 |
63.16% |
0.35% |
|
Ordinary Resolution Number 2 - Authority to implement |
99.99% |
0.01% |
2,969,846,090 |
63.07% |
0.43% |
*as a percentage of total number of shares in issue 4,708,553,649 as at 5 August 2022.
"We would like to thank our shareholders for their ongoing support on this milestone transaction, which gives life to our commitment to transformation, delivering on our 2018 undertaking. It results in Old Mutual exceeding 33% B-BBEE ownership and further enables us to play a role in transforming the financial futures of those who participate in the scheme. We are proud to be the first insurer to facilitate an offer of shares directly to the black South African public and believe that the inclusion of the eligible public contributes to making this a truly transformative transaction." Old Mutual CEO, Iain Williamson
Salient dates relating to the Bula Tsela Retail Scheme:
The Old Mutual Bula Tsela Retail Scheme will be opened on 22 August 2022, with the application window closing on 24 October 2022 and the Transaction is expected to be fully implemented by December 2022. Full details will be provided in a detailed prospectus, which will be released on our website at https://www.oldmutual.com/bula-tsela/ on 22 August 2022.
Sandton
Corporate Advisers
Tamela Holdings Proprietary Limited
Rand Merchant Bank (a division of FirstRand Bank Limited)
Independent Reporting Accountants and Auditors
Deloitte & Touche
Legal Adviser to Old Mutual
Bowman Gilfillan Inc.
JSE Transaction Sponsor
Merrill Lynch South Africa (Pty) Limited t/a BofA Securities
Sponsors
|
Johannesburg Stock Exchange |
Merrill Lynch South Africa (Pty) Limited t/a BofA Securities |
|
Malawi Stock Exchange |
Stockbrokers Malawi Limited |
|
Namibia Stock Exchange |
PSG Wealth Management (Namibia) (Proprietary) Limited |
|
Zimbabwe Stock Exchange |
Imara Capital Zimbabwe plc |
Enquiries
|
Investor Relations |
|
|
Sizwe Ndlovu Head: Investor Relations |
T: +27 (0)11 217 1163 E: tndlovu6@oldmutual.com |
|
|
|
|
Communications |
|
|
Vuyo Mtawa |
M: +27 68 422 8125 |
|
Head: Group Communication |
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 market 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 Asia. With 177 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities they serve and the broader society on the continent.
For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com .
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