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Old Mutual PLC (OML.L)

OML.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Old Mutual says unit to offer notes due 2026
Wednesday, 27 Jul 2016 02:00am EDT 

Old Mutual Plc : OM Asset Management Plc – offering of 4.800% notes due 2026 .OMAM, majority-owned subsidiary of Old Mutual Plc, made a filing with SEC relating to pricing terms and size of institutional offering of 4.800% notes due 2026.  Full Article

Old Mutual Wealth listing is preferred option-OM CEO
Tuesday, 28 Jun 2016 02:00am EDT 

Old Mutual Plc : Ceo hemphill says listing of old mutual wealth, emerging markets units is preferred option in managed break-up plan . Old mutual ceo says has received approaches for businesses from "all manner" of players . Uk will see short-term market fluctuations, is "sure bet" in longer term .In process of "cleaning up" old mutual wealth italy, no comment on sale speculation.  Full Article

Old Mutual says could list wealth and emerging markets ops separately
Tuesday, 28 Jun 2016 02:00am EDT 

Old Mutual Plc : Old Mutual annual general meeting and update on trading and managed separation . Old Mutual Plc will be holding its annual general meeting at 11am today, June 28 2016 . Will also hold a general meeting immediately afterwards to consider a revised directors' remuneration policy and adoption of a new long-term incentive plan . Gross sales in year to date have been strong . Expected headwinds of weaker and more volatile foreign exchange and equity markets to which we made reference at our preliminary results have materialised-CEO . "To date we have seen larger than expected claims experiences in both property & casualty and corporate business." . Change in Plc responsibilities is resulting in a significant redesign of head office to ensure its structure and functions are aligned to discharging objectives outlined above . These include supporting efficient running of business, transitioning Plc activities to underlying businesses as appropriate and managing orderly and phased winding down of London head office . Have consulted with head office staff and reduced full time equivalent (FTE) headcount at Plc by 15 pct, and will see further phased reductions in FTEs as managed separation progresses . Expects EU referendum "may add increased levels of market volatility which may impact performance of underlying businesses".  Full Article

Old Mutual, OMAM agreed to accelerate and terminate capital management agreement
Tuesday, 14 Jun 2016 07:40am EDT 

Old Mutual Plc : OMAM has negotiated an acceleration and subsequent termination of deferred tax asset deed and seed capital management agreement with co . OMAM's on-going liabilities to Old Mutual under both agreements shall be satisfied earlier than expected .Omam acquires interest in landmark partners.  Full Article

Old Mutual says continuing to assess options regarding managed separation
Tuesday, 24 May 2016 02:20am EDT 

Old Mutual Plc : Response to media speculation . Will update market as and when appropriate . Can confirm that it is continuing to assess options available to it with regard to preferred route to effect managed separation announced on March 11 2016. .As a consequence of decision to proceed with managed separation of Old Mutual, we expect to receive interest in our assets periodically.  Full Article

Old Mutual PLC to split up, may list some businesses - Reuters News
Thursday, 10 Mar 2016 10:12pm EST 

Old Mutual PLC:Anglo-South African financial services group Old Mutual will split into its four main businesses, and may list its emerging market and wealth management arms, it said on Friday. - RTRS.Regulatory changes in Europe and South Africa have made the company, which started out in 1845 as a life insurance firm in Cape Town, more complex to run in its current form, it said."We have four very strong businesses ... there is little commonality and limited rationale for them to be combined into one group," chief executive Bruce Hemphill told a media call.Speculation about a break-up and possible bid for its UK wealth management business had boosted Old Mutual shares earlier this week, but the company made no mention of any offers. UBS analysts said that might disappoint shareholders.Old Mutual, which is listed in London and Johannesburg, will close its London head office to save 80 million pounds ($114 million) in costs, Hemphill said, without giving details on the number of jobs affected.  Full Article

Old Mutual PLC reaffirms FY 2015 EPS guidance
Monday, 2 Nov 2015 02:00am EST 

Old Mutual PLC:Says that its expectation of organic growth in diluted headline earnings per share (EPS) in FY 2015 to be above nominal GDP growth remains unchanged.  Full Article

Old Mutual sets deadline for bids for Buxton funds business -sources

LONDON, Sept 14 Suitors for Old Mutual's asset management arm run by veteran British investor Richard Buxton have until Sept. 29 to submit tentative bids for the business, sources familiar with the matter told Reuters.