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OLD MUTUAL PLC - OM Asset Management Closing of Offering of Ordinary Shares

Release Date: 22/06/2015 17:50
Code(s): OML     PDF:  
Wrap Text
OM Asset Management Closing of Offering of Ordinary Shares

       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL




       Ref 471/15
       22 June 2015


       OM ASSET MANAGEMENT CLOSING OF OFFERING OF ORDINARY SHARES

       OM Asset Management plc (“OMAM”) announced today the closing of an underwritten public offering
       of 15,295,000 of its ordinary shares, including 1,995,000 shares sold pursuant to the full exercise of
       the underwriters’ previously-granted option to purchase additional shares. The shares were sold by
       Old Mutual plc (“Old Mutual”) at a public offering price of $17.50 per share.

       Old Mutual will realise gross proceeds less the underwriting discount from the offering of $257 million.
       Following the sale, Old Mutual now owns 65.8% of OMAM. OMAM did not sell any shares in the
       offering and did not receive any proceeds from the offering.

       BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup, and Credit Suisse Securities (USA) LLC
       acted as joint bookrunning managers for the offering.

       Copies of the prospectus relating to the offering may be obtained 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, 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


       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd


       Joint Sponsor:
       Nedbank Capital




INVESTMENT | SAVINGS | INSURANCE | BANKING

Notes to Editors

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.

Date: 22/06/2015 05:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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