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OLD MUTUAL LIMITED - Notice to Shareholders in terms of Section 45 of the Companies Act

Release Date: 05/06/2019 17:31
Code(s): OMU     PDF:  
 
Wrap Text
Notice to Shareholders in terms of Section 45 of the Companies Act

Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
("Old Mutual" or “the Company”)

Ref 28/19
5 June 2019

NOTICE TO SHAREHOLDERS IN TERMS OF SECTION 45 OF THE COMPANIES ACT NO 71 OF 2008
(“ACT”)

Shareholders of the Company are referred to the announcement released on the
Stock Exchange News Service this afternoon, 5 June 2019, under the Old Mutual
Life Assurance Company (South Africa) Limited (“OMLACSA”) code, OLDM advising
that OMLACSA has amended and updated its ZAR10 000 000 000 Unsecured Subordinated
Note Programme, and that this updated programme now includes a guarantee from
Old Mutual Limited.

Furthermore, shareholders are referred to the special resolution tabled and
approved at the Annual General Meeting held on 6 March 2018 and renewed on 24
May 2019, authorising directors to provide financial assistance to or for the
benefit of any company or corporation which is related or inter-related to the
company or any employee, director, prescribed officer or other person or trust
established for their benefit, in terms of any share incentive scheme described
in the Company’s integrated report.

In terms of section 45(2) of the Act, the board has authorised the Company to
provide loan facilities and/or guarantees (the “Facilities”), in the normal
course of business, to subsidiaries of Old Mutual and financial assistance to
employees, directors, prescribed officers or trust established for their benefit,
in terms of any share incentive schemes described in the company’s integrated
report. The board has satisfied itself that the terms of the Facilities are
fair and reasonable and that the Company would satisfy the solvency and liquidity
test after extending such financial assistance, in terms of section 4 of the
Act. Shareholders are advised that the total facility value, if utilised, will
exceed 1/10th of 1% of the Company’s net worth as at the date of the last board
meeting, being 23 May 2019.

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

About Old Mutual Limited
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 it has niche business in Asia. With over 170
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.

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