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Old Mutual plc Strategic Review and Cautionary Announcement
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
('Nedbank Group' or 'the group')
OLD MUTUAL PLC STRATEGIC REVIEW AND CAUTIONARY ANNOUNCEMENT
Nedbank Group shareholders are referred to the announcement released
by Old Mutual plc (‘Old Mutual’) on Monday 7 March 2016. The full
text of this announcement is detailed below:
“Old Mutual plc (‘Old Mutual’) notes the press speculation on
Saturday 5 March 2016. When our new Chief Executive Bruce Hemphill
joined on 1 November 2015, we announced that we would be conducting
a strategic review.
We can confirm that all options for the strategic review are being
considered but no decision has yet been made.
Old Mutual is due to announce its preliminary results for 2015 on 11
March 2016 and will provide an update on the strategic review at
that time.”
Nedbank Group and Old Mutual have a longstanding commercial
relationship that is a source of value underpinning the successful
collaboration activities both in South Africa and the Rest of
Africa. Old Mutual and Nedbank have been engaging collaboratively as
part of the ongoing strategic review being conducted by Old Mutual
under its new Chief Executive.
Nedbank Group shareholders are advised to exercise caution when
dealing in Nedbank Group securities until an update on Old Mutual’s
strategic review is provided on 11 March 2016.
Sandton
7 March 2016
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank CIB
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd
Date: 07/03/2016 09:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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