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OLD MUTUAL LIMITED - Shareholder Engagement Regarding Old Mutuals Remuneration Policy and Remuneration Implementation Report

Release Date: 26/07/2019 17:30
Code(s): OMU     PDF:  
 
Wrap Text
Shareholder Engagement Regarding Old Mutual’s Remuneration Policy and Remuneration Implementation Report

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 31/19
26 July 2019

ENGAGEMENT WITH SHAREHOLDERS REGARDING OLD MUTUAL’S REMUNERATION POLICY AND
REMUNERATION IMPLEMENTATION REPORT

Shareholders of Old Mutual are referred to the results of annual general meeting
announcement released on the Stock Exchange News Service on 24 May 2019
(“Announcement”). The non-binding advisory resolutions on the endorsement of the
remuneration policy and remuneration implementation report, disclosed in the
Announcement, did not achieve the requisite 75% majority of votes. In terms of
the recommendations of the King IV Report on Corporate Governance for South
Africa, 2016 and paragraph 3.84(k) of the JSE Limited Listings Requirements, an
engagement with the dissenting shareholders is required.

Old Mutual believes that remuneration must align with shareholder value creation
and believes that the group’s key performance measures, including but not limited
to Results from Operations, Net Client Cash Flow and Return on Net Asset Value,
ensures that the link between pay and performance is direct. Consequently, Old
Mutual invites dissenting shareholders to raise concerns or recommendations
regarding the non-binding advisory resolutions directly with the chairman of the
remuneration committee, Ms. Nombulelo Moholi, by making their written submissions
to the Group Company Secretary, Elsabe Kirsten, using the following email address
- AGM@oldmutual.com, by no later than 17:00 on Thursday, 8 August 2019 (“closing
date”).

For any other enquiries relating to the abovementioned resolutions, you may
contact the Group Company Secretary via our Registrars on +27 (0)86 140 0010 (if
calling from South Africa) or +27 (0)11 029 0251 (if calling from overseas).
Subsequent to the closing date of the aforementioned submissions, the Company
will provide feedback to the dissenting shareholders in a manner acceptable to
the shareholders concerned.

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.

Date: 26/07/2019 05:30:00
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