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Old Mutual Ltd - Engagement with shareholders

RNS Number : 9620P
Old Mutual Limited
15 June 2020
 

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

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "the Company")

 

 

Ref 24/20

15 June 2020

 

 

ENGAGEMENT WITH SHAREHOLDERS REGARDING OLD MUTUAL'S 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 01 June 2020 ("Announcement").

 

The non-binding advisory resolution on the endorsement of the remuneration policy report, disclosed in the Announcement achieved over 92% shareholder support, exceeding the requisite 75% majority of votes.

 

The non-binding advisory resolution on the endorsement of the remuneration implementation report, disclosed in the Announcement achieved 73.77% approval from shareholders and thus not achieving 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 expects that its remuneration policies and practices will mature and improve through an iterative process that will be facilitated through continuous open and transparent engagement with stakeholders.  Consequently, Old Mutual invites dissenting shareholders to raise concerns or recommendations regarding the non-binding advisory resolution directly with the chairman of the remuneration committee, Mr Itumeleng Kgaboesele, 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 Tuesday 30 June 2020 ("closing date").

 

For any other enquiries relating to the abovementioned resolutions, you may contact the Group Company Secretary using the email address - AGM@oldmutual.com.

 

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.

 

Sandton

 

Sponsors

Johannesburg Stock Exchange

Merrill Lynch South Africa (Pty) Limited

Namibia

PSG Wealth Management (Namibia) (Proprietary) Limited

Zimbabwe

Imara Capital Zimbabwe plc

Malawi

Stockbrokers Malawi Limited

 

Enquiries

Investor Relations


Sizwe Ndlovu

Head of Investor Relations

T: +27 (0)11 217 1163

E: tndlovu6@oldmutual.com



Tokelo Mulaudzi

T: +27 (0)11 217 1042

Investor Relations Manager

E: tmulaudzi3@oldmutual.com



Communications


Tabby Tsengiwe

Head of Communications

T: +27 (11) 217 1953

M: +27 (0)60 547 4947

E: ttsengiwe@oldmutual.com

 

Notes to Editors

 

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 we have a niche business in China. With over 175 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.
 
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Quick facts: Old Mutual Limited

Price: 48.06

Market: LSE
Market Cap: £2.26 billion
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