Old Mutual Limited Engagement with shareholders - AGM remuneration (9254G)
July 26 2019 - 11:30AM
UK Regulatory
TIDMOMU
RNS Number : 9254G
Old Mutual Limited
26 July 2019
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
("Old Mutual" or "the Company")
Ref 31/19
26 July 2019
ENGAGEMENT WITH SHAREHOLDERS REGARDING OLD MUTUAL'S REMUNERATION
POLICY AND 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 24 May 2019 ("Announcement"). The non-binding advisory
resolutions on the endorsement of the remuneration policy and
remuneration implementation report, disclosed in the Announcement,
did not achieve 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 believes that remuneration must align with
shareholder value creation and believes that the group's key
performance measures, including but not limited to Results from
Operations, Net Client Cash Flows and Return on Net Asset Value,
ensures that the link between pay and performance is direct.
Consequently, Old Mutual invites dissenting shareholders to raise
concerns or recommendations regarding the non-binding advisory
resolutions directly with the chairman of the remuneration
committee, Ms. Nombulelo Moholi, 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 Thursday, 8 August 2019 ("closing date").
For any other enquiries relating to the abovementioned
resolutions, you may contact the Group Company Secretary via our
Registrars on +27 (0)86 140 0010 (if calling from South Africa) or
+27 (0)11 029 0251 (if calling from overseas). 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.
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 T: +27 (0)11 217 1163
Head of Investor Relations E: tndlovu6@oldmutual.com
Communications
Tabby Tsengiwe T: +27 (11) 217 1953
Head of Communications M: +27 (0)60 547 4947
E: ttsengiwe@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 niche business in Asia. With over 170 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.
END
MSCUNAVRKNABUAR
(END) Dow Jones Newswires
July 26, 2019 11:30 ET (15:30 GMT)
Old Mutual (LSE:OMU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Old Mutual (LSE:OMU)
Historical Stock Chart
From Apr 2023 to Apr 2024
