Wrap Text
OM Asset Management Announces Pricing of Secondary Offering
OLD MUTUAL PLC
ISIN CODE: GB00B77J0862
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOMOL
Old Mutual plc
Ref 105/17
16 May 2017
OM ASSET MANAGEMENT ANNOUNCES PRICING OF SECONDARY OFFERING
OM Asset Management plc (“OMAM”) announced today the pricing of a public offering of 17.3 million
of its ordinary shares at a public offering price of $14.55 per share. The public offering is expected to
close on 19 May 2017.
The ordinary shares are being offered by Old Mutual plc, through its wholly owned subsidiary, OM
Group (UK) Limited. The underwriters also have a 30-day option to purchase up to an additional 2.595
million ordinary shares at the public offering price, less the underwriting discount. OMAM will not sell
any shares in the offering and will not receive any proceeds from the sale of the shares.
In addition, the previously announced private repurchase transaction, in which OMAM expects to
repurchase 5 million ordinary shares directly from OM Group (UK) Limited was also priced at $14.55
per share. The closing of the repurchase transaction is subject to various conditions, including the
closing of the public offering.
The proceeds to Old Mutual from the proposed offering and Repurchase Agreement are expected to
be used for general corporate purposes.
Morgan Stanley & Co. LLC is acting as sole book running manager for the offering.
The public offering is being made pursuant to an effective shelf registration statement on file with the
U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating
to the public offering, subject to completion, has been filed with the SEC, and a final prospectus
supplement relating to the public offering will be filed with the SEC. Interested parties should read the
prospectus included in the registration statement and the prospectus supplement for the public offering,
and other documents that OMAM has filed with the SEC for more complete information about OMAM
and the public offering.
Copies of the preliminary prospectus supplement relating to the public offering may be obtained, when
available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street,
Second Floor, New York, NY 10014.
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 +44 20 7002 7440
Investor relations
Dominic Lagan +44 20 7002 7190
Deward Serfontein +27 82 810 5672
Media
William Baldwin-Charles +44 20 7002 7133
+44 7834 524833
Sponsor:
Merrill Lynch South Africa (Pty) Ltd
Joint Sponsor:
Nedbank Corporate and Investment Banking
Notes to Editors
Old Mutual
Old Mutual provides investment, savings, insurance and banking services to 19.4 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.
Old Mutual is executing its strategy of managed separation, which will entail separating its four businesses into
standalone entities. The four businesses are:
Old Mutual Emerging Markets: an attractive business with a dominant position in South Africa, well-placed to
capitalise on sub-Saharan African growth as a diversified financial services provider with strong operations in key
East and West African markets.
Nedbank: one of South Africa’s four largest banks with very strong corporate, commercial and property finance
franchises, and a growth opportunity in the retail market, as well as pan-African optionality through its stake in
Ecobank Transnational Inc (ETI).
Old Mutual Wealth: a leading, integrated wealth management business, focused on the UK upper and middle
market, with strong prospects in a rapidly growing £3 trillion market.
OM Asset Management: an institutionally focussed, multi-boutique asset management business, delivering
strong, diversified growth in attractive asset classes through organic initiatives and acquisitions.
For the year ended 31 December 2016, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
and had £395 billion of funds under management. For further information on Old Mutual plc and the underlying
businesses, please visit the corporate website at www.oldmutualplc.com
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