Old Mutual has launched a major media campaign aimed at its 450 000 retail shareholders ahead of the separate listings of its English and South African businesses in London and Johannesburg.
Old Mutual will return to South Africa as Old Mutual Limited. The United Kingdom-based Old Mutual Wealth Management will be renamed Quilter.
The managed separation will see Old Mutual plc shareholders receiving shares in Old Mutual Ltd and Quilter, both of which will be listed on the Johannesburg and London stock exchanges. Shareholders will, in time, receive shares in the Nedbank Group, which will also be hived off from the parent group. Over the coming months, a media campaign will take shareholders through the separation process.
Bruce Hemphill, Old Mutual’s chief executive, says: “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, the chief executive designate of Old Mutual Ltd, says shareholders should ensure that Old Mutual has their correct contact details, “so that we can get you all the information you need to play your part in determining the future of your company”. To do this, Old Mutual plc shareholders in South Africa should contact Link Market Service SA on 086 140 0110 or 011 029 0253.