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Results of shareholder voting at the Annual General Meeting
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 14/21
21 May 2021
RESULTS OF SHAREHOLDER VOTING AT THE ANNUAL GENERAL MEETING (“AGM”)
Shareholders are advised that the ordinary and special resolutions proposed in
the notice to shareholders dated April 2021, were passed by the requisite majority
of votes of shareholders present in person or represented by proxy at the
Company’s AGM held on Friday, 21 May 2021.
The voting results were as follows:
TOTAL SHARES VOTED SHARES
ABSTAINED
ORDINARY RESOLUTIONS
FOR (%) AGAINST NUMBER %* %*
(%)
Ordinary Resolution 1 – To 99.982% 0.018% 3 406 772 459 72.353% 0.13%
receive and adopt the
consolidated audited
annual financial
statements for the Company
and its subsidiaries for
the year ended 31 December
2020
Ordinary Resolution 2.1 – 99.627% 0.373% 3 407 003 410 72.358% 0.13%
To re-elect Trevor Manuel
as a director of the
Company
Ordinary Resolution 2.2 – 91.728% 8.272% 3 406 990 319 72.357% 0.13%
To re-elect Itumeleng
Kgaboesele as a director
of the Company
Ordinary Resolution 2.3 – 99.910% 0.090% 3 406 802 105 72.353% 0.13%
To re-elect Marshall
Rapiya as a director of
the Company
Ordinary Resolution 2.4 – 99.918% 0.082% 3 406 640 241 72.350% 0.14%
To elect Brian Armstrong
as a director of the
Company
Ordinary Resolution 2.5 – 81.176% 18.824% 3 405 805 830 72.332% 0.15%
To elect Olufunke Ighodaro
as a director of the
Company
Ordinary Resolution 2.6 – 92.157% 7.843% 3 404 702 285 72.309% 0.18%
To elect Jaco Langner as a
director of the Company
Ordinary Resolution 2.7 – 99.911% 0.089% 3 405 811 313 72.332% 0.15%
To elect Nomkhita Nqweni
as a director of the
Company
Ordinary Resolution 3.1 – 81.646% 18.354% 3 405 817 140 72.333% 0.15%
To elect Olufunke Ighodaro
as a member of the Audit
committee
Ordinary Resolution 3.2 – 99.439% 0.561% 3 406 264 579 72.342% 0.14%
To elect Itumeleng
Kgaboesele as a member of
the Audit committee
Ordinary Resolution 3.3 – 99.895% 0.105% 3 405 059 526 72.316% 0.17%
To elect Jaco Langner as a
member of the Audit
committee
Ordinary Resolution 3.4 – 99.788% 0.212% 3 406 080 752 72.338% 0.15%
To elect John Lister as a
member of the Audit
committee
Ordinary Resolution 3.5 – 81.588% 18.412% 3 406 297 161 72.343% 0.14%
To elect Nosipho Molope as
a member of the Audit
committee
Ordinary Resolution 3.6 – 98.574% 1.426% 3 405 794 159 72.332% 0.15%
To elect Nomkhita Nqweni
as a member of the Audit
committee
Ordinary Resolution 4.1 – 98.641% 1.359% 3 407 822 905 72.375% 0.11%
To reappoint Deloitte &
Touche as joint
independent auditors until
the conclusion of the next
AGM of the company
Ordinary Resolution 4.2 – 70.593% 29.407% 3 407 629 436 72.371% 0.12%
To reappoint KPMG Inc. as
joint independent auditors
until the conclusion of
the next AGM of the
Company
Ordinary Resolution 5.1 – 54.454% 45.546% 3 402 600 218 72.264% 0.22%
Non-binding advisory vote
on the Company’s
remuneration policy
Ordinary Resolution 5.2 – 67.495% 32.505% 3 402 635 451 72.265% 0.22%
Non-binding advisory vote
on the Company’s
remuneration
implementation report
Ordinary Resolution 6 – To 99.338% 0.662% 3 408 272 945 72.385% 0.10%
authorise any director or
the Group Company
Secretary to implement the
ordinary resolutions above
as well as the special
resolutions to follow
Special Resolution 1 – To 98.116% 1.884% 3 403 903 125 72.292% 0.19%
approve the remuneration
payable to non-executive
directors
Special Resolution 2 – To 99.946% 0.054% 3 396 868 928 72.143% 0.08%
grant general authority to
acquire the Company’s own
ordinary shares
Special Resolution 3 – To 78.879% 21.121% 3 403 378 527 72.281% 0.21%
approve the provisions of
financial assistance to
subsidiaries and other
related and inter-related
entities and to directors,
prescribed officers and
other persons
participating in share or
other employee incentive
schemes
*as a percentage of total number of shares in issue 4,708,553,649 as at 9 May 2021.
The Board is disappointed with the outcome of the voting on the 2020 Remuneration
Policy and Implementation Report following the significant improvement in the
voting outcome for the 2019 report.
“The economic uncertainty created by the COVID-19 pandemic and the impact on
business performance made 2020 a challenging year to set and implement
competitive remuneration policies. We have engaged extensively with shareholders
to understand their concerns and we recognise the fine balance between
remuneration outcomes which continue to motivate and retain our best people
whilst remaining aligned to shareholders’ interests,” said Itumeleng Kgaboesele,
Chairman of the Remuneration committee.
The Group will continue engaging directly with shareholders to understand their
exact issues and concerns so that appropriate decisions can be made with respect
to remuneration policy and implementation for the current and future years. The
Group will extend an invitation to shareholders through a SENS announcement
setting out the manner and the timing of the engagement in due course.
“We remain committed to the continued improvement of our remuneration policies
and practices through open and transparent engagement with all stakeholders.”
concludes Kgaboesele.
Sandton
Sponsors
Johannesburg Stock Merrill Lynch South Africa (Pty) Limited
Exchange
Namibia PSG Wealth Management (Namibia) (Proprietary)
Limited
Zimbabwe Imara Capital Zimbabwe plc
Malawi Stockbrokers Malawi Limited
Enquiries
Investor Relations
Sizwe Ndlovu T: +27 (0)11 217 1163
Head of Investor Relations E: tndlovu6@oldmutual.com
Communications
Tabby Tsengiwe T: +27 (11) 217 1953
Head of Communications M: +27 (0)60 547 4947
E: ttsengiwe@oldmutual.com
Notes to Editors
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 we have a niche business in China. With over
175 years of heritage across sub-Saharan Africa, we are 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.
Date: 21-05-2021 04:15:00
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