Old Mutual plc ('Old Mutual') has launched a major advertising campaign aimed at its 450,000 retail shareholders ahead of the separate listings of its UK and South African businesses in Johannesburg and London.
The Old Mutual brand, with over 170 years of history, will return home to Africa as Old Mutual Limited. Quilter will be the brand of the current UK based Old Mutual Wealth Management. The managed separation will see Old Mutual plc shareholders receiving shares in Old Mutual Limited and Quilter, both of which will be listed on the Johannesburg and London Stock Exchanges. Shareholders will also, in time, receive shares in Nedbank Group Limited. Over the coming months, a media and advertising campaign will explain how shareholders can vote on the plans.
Bruce Hemphill, Old Mutual plc chief executive, said: 'This is a hugely exciting time for the Group and its shareholders as we look to unlock and create value through the managed separation. The managed separation process is reaching a conclusion and we will soon be explaining to shareholders how and when they will take ownership of shares in the new companies.'
Peter Moyo, chief executive designate of Old Mutual Limited, said: 'We look forward to our African homecoming as it signals our commitment to and vote of confidence in the southern African financial markets. Retail shareholders will be receiving details of our plans in the coming months and we encourage them to get involved and vote on our proposals. My message to shareholders today is to make sure we have your correct contact details, so that we can get you all the information you will need to play your part in determining the future of your company.'
Old Mutual plc shareholders in South Africa can ensure their contact details are correct by contacting our registrars: Link Market Service South Africa Proprietary Limited on 086 140 0110 or 011 029 0253.