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    OMU   ZAE000255360

OLD MUTUAL LIMITED

(OMU)
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Old Mutual : New financial instrument listing (OML) (NaN)

09/22/2021 | 10:02am EDT

Old Mutual Limited

Incorporated in the Republic of South Africa Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

LSE Share Code: OMU

NSX Share Code: OMM

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "the Company")

Ref 23/21

22 September 2021

NEW FINANCIAL INSTRUMENT LISTING AND NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT 71 OF 2008 OF THE GRANTING OF FINANCIAL ASSISTANCE BY OLD MUTUAL

Shareholders of the Company are referred to the announcement released on the Stock Exchange News Service this afternoon, 22 September 2021 under the Old Mutual Life Assurance Company (South Africa) Limited ("OMLACSA") code, OLDM, advising that the JSE has granted a listing to OMLACSA of its unsecured floating rate note of R1,500,000,000 in terms of its R25,000,000,000 Multi-Issuer Note Programme ("the Programme"), as guaranteed by Old Mutual Limited, dated 4 March 2020 (the "Guarantee").

The above Guarantee constitutes financial assistance as define in section 45(1) of the Companies Act 71 of 2008 (the "Companies Act") and accordingly notice is hereby given that the board of directors of the Company (the "Board")adopted resolutions to provide financial assistance as contemplated in section 45(1) of the Companies Act, for amounts and on such terms and conditions as determined by the board, pursuant to the authorities granted in terms of the special resolution adopted by shareholders at the annual general meeting of the Company held on 21 May 2021 authorising the board of the directors of the Company to provide direct or indirect financial assistance by way of a loan, guarantee, the provision of security to any of its present or future subsidiaries and/or any other company or entity that is or becomes related or inter-related to the Company or any of its subsidiaries, and/ or to any member of such subsidiary or related or inter-related company or entity.

In accordance with section 45(3)(b) of the Companies Act, the Board advises that is satisfied and acknowledges, in respect of the financial assistance, that:

  • immediately after providing such financial assistance, Old Mutual would have satisfied the solvency and liquidity test as provided in section 4 of the Companies Act; and
  • the terms under which the financial assistance has been given are fair and reasonable to the Company.

Shareholders are advised that the total facility value, if utilised, will exceed 1/10th (one tenth) of 1% (one percent) of the Company's net worth as at the date of the last Board meeting, being 27 August 2021.

Sandton

Sponsors

Johannesburg Stock

Merrill Lynch South Africa (Pty) Limited ta BofA Securities

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

Vuyo Mtawa

M: +27 68 422 8125

Head: Group Communications

E: vmtawa@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 a niche business in China. With over 176 years of heritage across sub-Saharan Africa, Old Mutual is 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.

Disclaimer

Old Mutual Ltd. published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 14:01:07 UTC.


© Publicnow 2021
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Sales 2021 983 M 1 353 M 1 353 M
Net income 2021 290 M 399 M 399 M
Net cash 2021 804 M 1 106 M 1 106 M
P/E ratio 2021 11,5x
Yield 2021 4,91%
Capitalization 3 581 M 4 930 M 4 927 M
EV / Sales 2021 2,83x
EV / Sales 2022 2,66x
Nbr of Employees 29 861
Free-Float 100,0%
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Technical analysis trends OLD MUTUAL LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 15,48 ZAR
Average target price 18,33 ZAR
Spread / Average Target 18,4%
EPS Revisions
Managers and Directors
Iain George Williamson Chief Executive Officer & Executive Director
Casper G. Troskie Chief Financial Officer & Director
Trevor Andrew Manuel Chairman
Heloise Van der Mescht Chief Operating Officer
Gcinikhaya Loyiso Gobodo Managing Director-Wealth & Investments
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