3rd Dec 2009 10:33
Ref 88/09
3 December 2009
UPDATE ON PROPOSED ACQUISITION OF THE REMAINING MINORITY SHAREHOLDING IN MUTUAL & FEDERAL
Further to today's announcement by Mutual & Federal Insurance Company Limited ("Mutual & Federal") in relation to Old Mutual plc's ("Old Mutual") offer to acquire those Mutual & Federal shares not currently beneficially owned by Old Mutual and/or its subsidiaries ("the Offer"), Old Mutual shareholders are advised that the South Gauteng High Court, Johannesburg, sanctioned the scheme of arrangement proposed by Old Mutual to implement the Offer. However, at the current time one of the required regulatory approvals, which is a condition precedent to the Offer, remains outstanding. Accordingly, the salient dates and times published in the circular to Mutual & Federal shareholders posted on Friday, 30 October 2009 have been extended. A further announcement regarding the final dates and times of the Scheme will be made in due course.
The full announcement made today by Mutual & Federal is available on the Mutual & Federal website at www.mf.co.za
For further information on Old Mutual, please visit the corporate website at www.oldmutual.com
Enquiries
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Investor Relations |
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Patrick Bowes |
UK |
+44 (0)20 7002 7440 |
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Deward Serfontein |
SA |
+27 (0)82 810 5672 |
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Media |
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Matthew Gregorowski |
UK / SA |
+44 (0)20 7002 7133 |
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+44 (0)7748 183 834 |
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Don Hunter (Finsbury) |
UK |
+44 (0)20 7251 3801 |
Notes to Editors
Old Mutual
Old Mutual plc is a leading international long-term savings Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.
In the year ended 31 December 2008, the Group reported adjusted operating profit of £1.0 billion (on an IFRS basis) and had £265 billion of funds under management at the year end. The Group has approximately 57,000 employees.
Related Shares:
Old Mutual PLC