Old Mutual Limited Directorate Change (0894J)
01 December 2018 - 2:00AM
UK Regulatory
TIDMOMU
RNS Number : 0894J
Old Mutual Limited
30 November 2018
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
NSX Share Code: OMM
("Old Mutual")
Ref 78/18
30 November 2018
CHANGE IN DIRECTORATE
In compliance with rule 3.59 of the JSE Listings Requirements,
Old Mutual announces the resignation of Vassi Naidoo as the
non-executive director of the Company, with effect from 31 December
2018.
Shareholders are referred to the announcement by Old Mutual on
26 September 2018 regarding the unbundling by Old Mutual of a
significant portion of Old Mutual's shareholding in Nedbank Group
shares ('the Unbundling'). Old Mutual implemented the Unbundling on
15 October 2018, through the distribution of approximately 31,73%
of the issued shares of Nedbank Group to OML shareholders, whilst
retaining a strategic minority stake of 19.9% of the issued share
capital in Nedbank Group in its shareholder funds to underpin the
continuing relationship and commercial benefits between the two
organisations.
Trevor Manuel, Chairman of Old Mutual commented:
Vassi played an important role in guarding both the Old Mutual
plc, Nedbank Group Limited and Old Mutual's Boards through the
complexity of the successful Managed Separation process. He
continuously drove for clarity and transparency in the management
of sometimes competing stakeholder interests.
With the completion of the unbundling of the majority of Old
Mutual's stake in Nedbank, the Board has agreed that it is
appropriate for Vassi to step down from his non-executive
directorship of Old Mutual.
JSE Sponsor Merrill Lynch South Africa (Pty) Limited
Namibian Sponsor PSG Wealth Management (Namibia) (Proprietary)
Limited
Enquiries
Investor Relations
Patrick Bowes T: +44 (0)20 7002 7440
(Interim Head of Investor E: Patrick.bowes@omg.co.uk
Relations)
Communications:
Tabby Tsengiwe T: +27 (11) 217 1953
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 17 countries.
Old Mutual's primary operations are in South Africa and the rest of
Africa, and it has niche businesses in Latin America and 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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