Old Mutual PLC AGM Statement (4611M)
April 30 2018 - 2:00AM
UK Regulatory
TIDMOML
RNS Number : 4611M
Old Mutual PLC
30 April 2018
Old Mutual plc
Ref 202/18
30 April 2018
Annual general meeting
Old Mutual plc ("Old Mutual") will be holding its Annual General
Meeting ("AGM") at 11am (UK time) today, 30 April 2018.
Old Mutual's businesses continue to trade in line with its
expectations as outlined in its full year results published on 15
March 2018.
Quilter plc ("Quilter") has today released a trading update for
the first quarter of this year. Quilter reported that Net Client
Cash Flow ("NCCF") for the first quarter was up 14% on the prior
period at GBP1.6 billion (excluding Single Strategy), with Assets
under Management/Administration down (2)% to GBP111.6 billion
(excluding Single Strategy) with negative market movements
partially offset by the strong NCCF. The full trading update can be
found at
https://www.oldmutualwealth.co.uk/quilter/investor-relations/.
Old Mutual Limited group's continuing operations have started
the year on a positive note and results from operations are trading
in line with management expectations. Since the year end,
shareholder investment returns reflect the impact of lower equity
markets in South Africa and particularly in Zimbabwe. Management
remains focused on managing the cost base tightly and delivering on
its communicated strategy.
Nedbank Group's performance for the three months to 31 March
2018 was in line with management expectations. In accordance with
normal practice, the Nedbank Group will provide a performance
update at its AGM on 10 May 2018.
On 20 April 2018, Old Mutual plc announced a detailed timetable
for the final stages of its managed separation. Full details can be
found at www.oldmutualplc.com/media/news/index.jsp.
Enquiries
External communications
Patrick Bowes +44 20 7002 7440
Investor relations
Dominic Lagan (Old
Mutual plc) +44 20 7002 7190
John-Paul Crutchley
(Quilter) +44 20 7002 7016
Nwabisa Piki (Old
Mutual Limited) +27 11 217 1951
Media
+44 20 7002 7133
William Baldwin-Charles +44 7834 524833
Notes to Editors
About Old Mutual plc
Old Mutual plc is a holding company for several financial
services companies. In March 2016, it announced a new strategy of
managed separation entailing the separation of its underlying
businesses into independently-listed, standalone entities.
BrightSphere Investment Group, a US based institutional asset
manager, which rebranded from OM Asset Management in March 2018, is
now independent from Old Mutual. The remaining underlying
businesses are:
OML (which includes Old Mutual Emerging Markets): OML has an
ambition to become a premium financial services group in
sub-Saharan Africa and offers a broad spectrum of financial
solutions to retail and corporate customers across key market
segments in 17 countries.
Nedbank: Nedbank ranks as a top-5 bank by capital on the African
continent and Ecobank, in which Nedbank maintains a 21.2%
shareholding, ranks within the top-10 banks by assets on the
African continent.
Quilter: Quilter (formerly Old Mutual Wealth) is a leader in the
UK and in selected offshore markets in wealth management, providing
advice-led investment solutions and investment platforms to over
900,000 customers, principally in the affluent market segment.
For the year ended 31 December 2017, Old Mutual reported an
adjusted operating profit before tax of GBP2.0 billion. For further
information on Old Mutual plc and the underlying businesses, please
visit the corporate website at www.oldmutualplc.com.
IMPORTANT INFORMATION
This announcement does not constitute or form part of an offer
to purchase or subscribe for, or a solicitation or an advertisement
of an offer to purchase or subscribe for, securities in the United
States or in any other jurisdiction.
The securities to which these materials relate have not been and
will not be registered under the US Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any state
or other jurisdictions of the United States, and may not be offered
or sold in the United States except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements
of the Securities Act. There will be no public offering of the
securities in the United States or in any other jurisdiction.
The securities to be issued in connection with the schemes or
arrangement as part of the managed separation are expected to be
issued in reliance upon the exemption from the registration
requirements of the Securities Act provided by Section
3(a)(10).
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMKMGZDKNNGRZM
(END) Dow Jones Newswires
April 30, 2018 02:00 ET (06:00 GMT)
Old Mutual (LSE:OML)
Historical Stock Chart
From Jun 2024 to Jul 2024
Old Mutual (LSE:OML)
Historical Stock Chart
From Jul 2023 to Jul 2024