OLD MUTUAL PLC - Update On Managed Separation Delisting Of Old Mutual Plc Shares And Admission Of Old Mutual Limited

Release Date: 26/06/2018 09:37
Code(s): OML
 
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Update On Managed Separation – Delisting Of Old Mutual Plc Shares And Admission Of Old Mutual Limited


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

   Ref 225/18
   26 June 2018


   UPDATE ON MANAGED SEPARATION – DELISTING OF OLD MUTUAL PLC SHARES AND
   ADMISSION OF OLD MUTUAL LIMITED

   Following the announcement by Old Mutual plc (“Old Mutual”) regarding, inter alia, the Second Scheme
   becoming effective, and following application by Old Mutual, the UK Listing Authority has cancelled the
   listing of Old Mutual plc Shares on the premium listing segment of the Official List and the London Stock
   Exchange has cancelled the trading of Old Mutual plc Shares on the London Stock Exchange's main
   market for listed securities, in each case with effect from 8.00 a.m. (London time) today. In addition, it
   is expected that Old Mutual plc Shares will be delisted from the Johannesburg Stock Exchange, the
   Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange on 29 June
   2018.
   Old Mutual is also pleased to announce that admission of, and commencement of unconditional
   dealings in, Old Mutual Limited Shares to the Johannesburg Stock Exchange, London Stock Exchange,
   the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange took
   place at 8.00 a.m. (London time) today.


   Enquiries
    External communications

    Patrick Bowes                                  +44 20 7002 7440


    Investor relations
    Dominic Lagan (Old Mutual plc)                 +44 20 7002 7190




    Media
    William Baldwin-Charles                        +44 20 7002 7133

                                                   +44 7834 524833


   Notes to Editors

   About Old Mutual plc
   Old Mutual plc was, until the Second Scheme became effective, a holding company for several financial services
   companies. In March 2016, it announced a new strategy of managed separation entailing the separation of its
   underlying businesses into independently-listed, standalone entities. All these businesses are now independent.
   BrightSphere Investment Group, a US based institutional asset manager, which rebranded from OM Asset
   Management in March 2018,

   Quilter: Quilter (formerly Old Mutual Wealth) is a leader in the UK and in selected offshore markets in wealth
   management, providing advice-led investment solutions and investment platforms to over 900,000 customers,
   principally in the affluent market segment.

   OML (which includes Old Mutual Emerging Markets, Old Mutual plc and c.54% of Nedbank): OML has an
   ambition to become a premium financial services group in sub-Saharan Africa and offers a broad spectrum of
   financial solutions to retail and corporate customers across key market segments in 17 countries.

   Nedbank: Nedbank ranks as a top-5 bank by capital on the African continent and Ecobank, in which Nedbank
   maintains a 21.2% shareholding, ranks within the top-10 banks by assets on the African continent.

   References to Residual plc are in respect of those operations reported as Residual plc including the legal entity
   Old Mutual plc, after the effectiveness of the Second Scheme, and subsidiaries or business units of Old Mutual plc
   such as Old Mutual Bermuda, OMGUK and its subsidiaries, Old Mutual Business Services Limited and Fairbairn
   Investments (UK) Limited

   For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion.
   For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at
   www.oldmutualplc.com.


   FORWARD-LOOKING STATEMENTS

   This announcement contains forward-looking statements with respect to certain of Old Mutual plc's, Quilter's and
   Old Mutual Limited's plans and their current goals and expectations relating to the execution of managed
   separation. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future
   events and circumstances which are beyond Old Mutual plc's, Quilter's and Old Mutual Limited's control, including
   amongst other things, those set out in the circular published by Old Mutual plc on 20 April 2018 (the “Circular”), the
   pre-listing statement published by Old Mutual Limited on 20 April 2018 (the “OML PLS”) and the prospectus
   published by Quilter on 20 April 2018 (the “Quilter Prospectus”). As a result, the execution of Managed Separation
   may differ materially from the forward-looking statements set forth in this announcement. These forward-looking
   statements speak only as of the date on which they are made. Old Mutual plc, Quilter and OML expressly disclaim
   any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements
   contained in this announcement or any other forward-looking statements they may make.
   
   IMPORTANT INFORMATION

   This announcement is not an offer to sell, or a solicitation of an offer to purchase, securities in the United States or
   in any other jurisdiction.
   The securities to which these materials relate have not been and will not be registered under the US Securities Act
   of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdictions of the United
   States, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction
   not subject to, the registration requirements of the Securities Act. There will be no public offering of the securities
   in the United States. The securities to be issued in connection with the schemes are expected to be issued in
   reliance upon the exemption from the registration requirements of the Securities Act provided by Section 3(a)(10).
   The release, publication or distribution of this announcement, the Circular, the OML PLS and the Quilter Prospectus
   in jurisdictions other than South Africa, the United Kingdom, Malawi, Namibia and Zimbabwe may be restricted by
   law and therefore persons in whose possession any of this announcement, the Circular, the OML PLS and the
   Quilter Prospectus comes should inform themselves about, and observe, any such applicable restrictions or
   requirements. Any failure to comply with such restrictions or requirements may constitute a violation of the
   securities laws and regulations of any such jurisdiction. To the fullest extent permitted by applicable law, the
   companies involved in the Proposals to finalise the managed separation disclaim any responsibility or liability for
   the violation of such restrictions or requirements by any person.

   This announcement does not comprise a prospectus or a prospectus equivalent document. Neither this
   announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer
   or commitment whatsoever in any jurisdiction.
   The information contained in this announcement constitutes factual information as contemplated in section 1(3)(a)
   of the South African Financial Advisory and Intermediary Services Act, 37 of 2002, as amended ("FAIS Act") and
   should not be construed as an express or implied recommendation, guide or proposal that any particular transaction
   in respect of any securities or in relation to the business or future investments of Old Mutual plc, OML or Quilter is
   appropriate to the particular investment objectives, financial situations or needs of a prospective investor. Nothing
   in this announcement should be construed as constituting the canvassing for, or marketing or advertising of,
   financial services in South Africa, the United Kingdom, Malawi, Namibia, Zimbabwe or any other jurisdiction.
   N M Rothschild & Sons Limited (“Rothschild”), which is authorised and regulated in the United Kingdom by the
   FCA, is acting as joint financial adviser to Old Mutual plc and for no one else in relation to the Global Offer and will
   not be responsible to anyone other than Old Mutual plc for providing the protections afforded to clients of
   Rothschild, nor for providing advice in relation to the Global Offer or any other matter or arrangement referred to in
   this document. This statement does not seek to limit or exclude responsibilities or liabilities which may arise under
   the FSMA or the regulatory regime established thereunder.

   Merrill Lynch International (“BofA Merrill Lynch”), which is authorised by the Prudential Regulation Authority and
   regulated by the FCA and the Prudential Regulation Authority in the United Kingdom, is acting as joint financial
   adviser and sponsor to Old Mutual plc and for no one else in relation to the managed separation and will not be
   responsible to anyone other than Old Mutual plc for providing the protections afforded to clients of BofA Merrill
   Lynch, nor for providing advice in relation to the managed separation or any other matter or arrangement referred
   to in this document. This statement does not seek to limit or exclude responsibilities or liabilities which may arise
   under the FSMA or the regulatory regime established thereunder.

   Sponsor:
   Merrill Lynch South Africa (Pty) Ltd

   Joint Sponsor:
   Nedbank Corporate and Investment Banking


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