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11 June 2018 Global offer by Old Mutual plc - Announcement of price range

Following the announcement by Old Mutual plc ('Old Mutual') on 29 May 2018 regarding Old Mutual's intention to proceed with the offer (the 'Global Offer') of up to 9.6% of the ordinary shares of Quilter plc ('Quilter') ('Ordinary Shares'), Old Mutual today announces the price range for the Global Offer.

  • The price range for the Global Offer has been set at between 125 pence to 155 pence per Ordinary Share.
  • The expected offering size of up to 164,977,971 Ordinary Shares1 together with an overallotment option of up to 10% of the total number of Ordinary Shares comprised in the Global Offer will represent 9.5% of Quilter's Ordinary Shares at the time of admission.
  • The final offer price in respect of the Global Offer and the number of Ordinary Shares to be sold in the Global Offer, if any, is expected to be determined following publication of a Price Range Supplement and is currently expected to be announced on or about 25 June 2018.
  • Any other outstanding information relating to the Global Offer will be contained in a Price Range Supplement to be published by Quilter later today.

Defined terms used but not defined in this announcement have the meanings set out in the Circular.

Rothschild is acting as independent financial adviser to Old Mutual on its managed separation including the Global Offer.

1 The number of Ordinary Shares to be sold in the Global Offer is stated on the basis that: Old Mutual has sold 1,037,853 Ordinary Shares to certain nonexecutive directors of Quilter and certain non-executive directors of Old Mutual, based on the midpoint of the price range.