By: Old Mutual
Old Mutual Limited (“OML“) has made public its pre-listing statement, an important step towards its launch as an independently listed, leading financial services group. It is expected that listing will take place on 26 June 2018 following receipt of the requisite approvals, including approval by the Old Mutual plc shareholders.
Peter Moyo, OML CEO says, “We are excited by the progress we have made, and today’s milestone opens an exciting, new chapter for Old Mutual. The PLS provides detailed information on Old Mutual Limited and its prospects. The listing of OML on the JSE will signal the return of Old Mutual to Africa where it is well positioned to offer the best solutions to our customers within our key client segments.”
Over the last few months, OML has reached significant milestones in its listing process. In January its corporate restructuring received approval from South Africa’s Competition Tribunal and the Department of Economic Development, and in February its homecoming was endorsed by National Treasury and referred to in the annual Budget Speech.
“We are on track with the completion of the Managed Separation process and thank all our stakeholders for their continued support” Moyo concludes.
OML and Nedbank Group Limited (“Nedbank”) have also signed their relationship agreement (“Relationship Agreement”) to govern the terms of the relationship upon completion of Managed Separation and replace the historic relationship agreement between Old Mutual plc and Nedbank.
The Relationship Agreement can be accessed online at www.oldmutualplc.com , on Nedbank’s website at www.nedbankgroup.co.za, in physical form at OML’s offices at Mutualpark, Jan Smuts Drive, Pinelands, 7405, and Nedbank’s head office at 135 Rivonia Road, Sandown, 2196, South Africa.
By: Old Mutual