Proactiveinvestors USA & Canada Old Mutual Limited https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Old Mutual Limited RSS feed en Thu, 18 Jul 2019 01:47:04 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Update on Peter Moyo and Termination of Employment ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190618073004_14114584/ Tue, 18 Jun 2019 02:30:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190618073004_14114584/ <![CDATA[RNS press release - OMLACSA New Financial Instrument Listing ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190610155601_14105396/ Mon, 10 Jun 2019 10:56:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190610155601_14105396/ <![CDATA[RNS press release - Notice to shareholders ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190605163104_14100194/ Wed, 05 Jun 2019 11:31:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190605163104_14100194/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524160003_14087470/ Fri, 24 May 2019 11:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524160003_14087470/ <![CDATA[RNS press release - Operational Update for the 3 months ended 31.3.19 ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524130003_14087217/ Fri, 24 May 2019 08:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524130003_14087217/ <![CDATA[RNS press release - Suspension of Chief Executive Officer ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524070003_14085997/ Fri, 24 May 2019 02:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190524070003_14085997/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190523090003_14085026/ Thu, 23 May 2019 04:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190523090003_14085026/ <![CDATA[RNS press release - OML - Additional Disclosures ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190521123002_14082107/ Tue, 21 May 2019 07:30:02 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190521123002_14082107/ <![CDATA[RNS press release - B-BBEE Certificate ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190517143001_14078869/ Fri, 17 May 2019 09:30:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190517143001_14078869/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190515150002_14075385/ Wed, 15 May 2019 10:00:02 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190515150002_14075385/ <![CDATA[RNS press release - Extension of Old Mutual Share Repurchase Programme ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190510101501_14069765/ Fri, 10 May 2019 05:15:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190510101501_14069765/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190509153001_14068687/ Thu, 09 May 2019 10:30:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190509153001_14068687/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190502151501_14061401/ Thu, 02 May 2019 10:15:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190502151501_14061401/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190424143000_14050524/ Wed, 24 Apr 2019 09:30:00 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190424143000_14050524/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190423121501_14048592/ Tue, 23 Apr 2019 07:15:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190423121501_14048592/ <![CDATA[RNS press release - Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190417143001_14045087/ Wed, 17 Apr 2019 09:30:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190417143001_14045087/ <![CDATA[RNS press release - OML Dealings in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190410153004_14036531/ Wed, 10 Apr 2019 10:30:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190410153004_14036531/ <![CDATA[RNS press release - Dealings in own Shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190403153002_14027816/ Wed, 03 Apr 2019 10:30:02 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190403153002_14027816/ <![CDATA[RNS press release - OML Changes to Responsibilities of a Director ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190403071504_14026828/ Wed, 03 Apr 2019 02:15:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190403071504_14026828/ <![CDATA[RNS press release - Completion of sale of OML's LatAm Businesses ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190402070019_14024563/ Tue, 02 Apr 2019 02:00:19 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190402070019_14024563/ <![CDATA[RNS press release - OML BEE Certificate and Annual Compliance Report ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190329133003_14021798/ Fri, 29 Mar 2019 09:30:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190329133003_14021798/ <![CDATA[RNS press release - OML Annual Financial Reports ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190329070008_14020443/ Fri, 29 Mar 2019 03:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190329070008_14020443/ <![CDATA[RNS press release - OML Dealings on behalf of Employee Schemes ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190327144501_14018216/ Wed, 27 Mar 2019 10:45:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190327144501_14018216/ <![CDATA[RNS press release - OML - Dealing in own shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190327141502_14018169/ Wed, 27 Mar 2019 10:15:02 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190327141502_14018169/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190326140744_14016461/ Tue, 26 Mar 2019 10:07:44 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190326140744_14016461/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190326100001_14015987/ Tue, 26 Mar 2019 06:00:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190326100001_14015987/ <![CDATA[RNS press release - OML - Dealings in Own Shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190322091501_14012318/ Fri, 22 Mar 2019 05:15:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190322091501_14012318/ <![CDATA[RNS press release - OML Dividend Currency Equivalents ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190318085003_14005596/ Mon, 18 Mar 2019 04:50:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190318085003_14005596/ <![CDATA[RNS press release - OML Reviewed Preliminary Annual Results ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190311070008_13996481/ Mon, 11 Mar 2019 03:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190311070008_13996481/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20190121150004_13941637/ Mon, 21 Jan 2019 10:00:04 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20190121150004_13941637/ <![CDATA[RNS press release - Dealings in securities - ES Incentive Scheme ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181220090003_13911163/ Thu, 20 Dec 2018 04:00:03 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181220090003_13911163/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181218120002_13908058/ Tue, 18 Dec 2018 07:00:02 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181218120002_13908058/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181130153003_13887578/ Fri, 30 Nov 2018 10:30:03 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181130153003_13887578/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181130150003_13887520/ Fri, 30 Nov 2018 10:00:03 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181130150003_13887520/ <![CDATA[RNS press release - Change in responsibilities of a Director ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181115110003_13868535/ Thu, 15 Nov 2018 06:00:03 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181115110003_13868535/ <![CDATA[RNS press release - Old Mutual plc - Early redemption amounts ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181114070001_13865808/ Wed, 14 Nov 2018 02:00:01 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181114070001_13865808/ <![CDATA[RNS press release - Old Mutual plc - Results from bondholder meetings ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181112121505_13863596/ Mon, 12 Nov 2018 07:15:05 -0500 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181112121505_13863596/ <![CDATA[RNS press release - Note to holders of Old Mutual Limited shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181029070504_13845154/ Mon, 29 Oct 2018 03:05:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181029070504_13845154/ <![CDATA[RNS press release - Old Mutual Limited Full Year 2018 results ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181029070008_13845111/ Mon, 29 Oct 2018 03:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181029070008_13845111/ <![CDATA[RNS press release - Outcome of bondholder meetings ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181025141001_13842802/ Thu, 25 Oct 2018 09:10:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181025141001_13842802/ <![CDATA[RNS press release - Results of accelerated offer for Nedbank shares ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181018070008_13833129/ Thu, 18 Oct 2018 02:00:08 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181018070008_13833129/ <![CDATA[RNS press release - Old Mutual - Launch of Accelerated Offering ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181017161501_13832886/ Wed, 17 Oct 2018 11:15:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181017161501_13832886/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181015094501_13828633/ Mon, 15 Oct 2018 04:45:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181015094501_13828633/ <![CDATA[RNS press release - Completion of the Unbundling of Nedbank Group Ltd ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181015075501_13828345/ Mon, 15 Oct 2018 02:55:01 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181015075501_13828345/ <![CDATA[RNS press release - Form 8.3 - [Sibanye Gold Limited] ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181012142502_13827421/ Fri, 12 Oct 2018 09:25:02 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181012142502_13827421/ <![CDATA[RNS press release - Update on the Nedbank Unbundling ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181011114003_13825322/ Thu, 11 Oct 2018 06:40:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181011114003_13825322/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181011083004_13824850/ Thu, 11 Oct 2018 03:30:04 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181011083004_13824850/ <![CDATA[RNS press release - Form 8.3 - [Sibanye Gold Limited] ]]> https://www.proactiveinvestors.com/companies/rns/3006/LSE20181010110003_13823375/ Wed, 10 Oct 2018 06:00:03 -0400 https://www.proactiveinvestors.com/companies/rns/3006/LSE20181010110003_13823375/ <![CDATA[News - South African rand slumps after finance minister is dismissed ]]> https://www.proactiveinvestors.com/companies/news/120307/south-african-rand-slumps-after-finance-minister-is-dismissed-120307.html South Africa's president, Jacob Zuma, sacked his finance minister last night, sending the rand into a tailspin and dragging down share prices.

The South African currency, the rand, hit the skids after Nhlanhla Nene was removed from office, though the president said Nene would be deployed to “another strategic position”.

The US dollar now buys around 15.33 rand, compared to around 14.51 overnight, which is the lowest level the South African currency has ever sunk to against the greenback.

Against the pound, the rand's value tumbled to around 23.21 to the pound from around 21.98 overnight, which has serious ramifications for London-listed but South Africa focused operators such as finance houses Old Mutual and Investec, plus commodities plays such as Acacia Mining.

Old Mutual (LON:OML) had lost around one-eighth of its value, reflecting the fact that its South African Nedbank subsidiary, Nedbank, accounted for just under 45% of Old Mutual's adjusted operating profit before tax in its recent half year results.

In the first half of the year, the rand traded at 18.16 to the pound on average, so the depreciation to more than 23 will put a dent in Old Mutual's profits when translated into sterling.

RBC Capital Markets was quick off the mark, downgrading the stock to 'under-perform' from 'sector perform' and chopping the price target to 180p from 200p.

Investec (LON:INVP), meanwhile, was down 9% in lunchtime trading. It also reports in sterling but has a large corporate and private banking business in South Africa.

You can see the effects of a soft rand on its figures in its six months results to the end of September, where operating profit before tax was up 16.1% in sterling terms and up 27.0% in rand terms.

For Acacia Mining (LON:ACA), the decline of the rand is less of an issue, as indicated by the fact its shares had only dipped 3.8% towards the end of the lunchtime session.

It reports in US dollars, so there will be translation losses when South African revenues are converted into dollars, but the company formerly known as African Barrick Gold is more concerned about the value of the Tanzanian shilling these days, being the largest gold producer in Tanzania.

Likewise, Vedanta Resources (LON:VED) is more concerned these days about the movements of the Indian rupee (and the Zambian kwacha) as the rand.

It remains to be seen whether President Zuma can appoint someone to restore confidence in the country's economic management; one of the first problems the new finance minister will have to deal with is the likely interest rate rise in the US, which will put the rand under further pressure.  

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Thu, 10 Dec 2015 14:14:00 -0500 https://www.proactiveinvestors.com/companies/news/120307/south-african-rand-slumps-after-finance-minister-is-dismissed-120307.html
<![CDATA[News - Old Mutual to sell US life insurance arm, H1 profits up ]]> https://www.proactiveinvestors.com/companies/news/16376/old-mutual-to-sell-us-life-insurance-arm-h1-profits-up-19731.html The London-listed South African insurer Old Mutual (LON:OML) said it was selling its US life arm as it reported a strong surge in first half earnings.

The deal with private investment firm Harbinger will rake in US$350 million.

Operating profit jumped to £735m in the six months to June 30 from £513m a year earlier as the group’s domestic operations and the fund management arm starred.

Chief executive Julian Roberts said: ‘We are driving change throughout the group and are making good progress on our strategy to simplify the group and improve financial performance."

Separately, the group announced the retirement of non-executive director Richard Pym, who will be replaced by Roger Marshall, a former audit partner at PriceWaterhouseCoopers.

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Fri, 06 Aug 2010 08:26:00 -0400 https://www.proactiveinvestors.com/companies/news/16376/old-mutual-to-sell-us-life-insurance-arm-h1-profits-up-19731.html