Edition:
United States

Old Mutual PLC (OML.L)

OML.L on London Stock Exchange

190.70GBp
17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Old mutual's OMAMA says pricing of public offering of 6,039,630 ordinary shares
Wednesday, 15 Nov 2017 09:40am EST 

Nov 15 (Reuters) - OLD MUTUAL PLC ::SAYS ‍OM ASSET MANAGEMENT PLC ANNOUNCES PRICING OF PUBLIC OFFERING OF 6,039,630 OF ORDINARY SHARES FOR AGGREGATE PROCEEDS OF ABOUT $94 MILLION​.‍PUBLIC OFFERING IS EXPECTED TO CLOSE ON 17 NOVEMBER 2017​.‍ORDINARY SHARES ARE BEING OFFERED BY OLD MUTUAL PLC ('OLD MUTUAL'), THROUGH ITS WHOLLY OWNED SUBSIDIARY, OM GROUP (UK) LIMITED​.‍OMAM WILL NOT SELL ANY SHARES IN OFFERING AND WILL NOT RECEIVE ANY PROCEEDS FROM SALE OF SHARES​.  Full Article

Old Mutual Wealth Solvency 2 ratio over 170 pct-CEO
Wednesday, 15 Nov 2017 08:06am EST 

Nov 15 (Reuters) - Old Mutual Plc :Old mutual wealth ceo paul feeney says ~unit has solvency 2 ratio of more than 170 percent.  Full Article

Old Mutual completes sale of OM Asset Management shares to HNA Capital US​
Monday, 13 Nov 2017 02:09am EST 

Nov 13 (Reuters) - Old Mutual Plc :‍Old Mutual plc ("old mutual") today announces that sale of second tranche of OM Asset Management ("omam") shares to HNA Capital US has completed​.‍Old Mutual's remaining holding in OMAM is now 5.5%​.  Full Article

Old Mutual ‍OML strategic minority shareholding in Nedbank​
Wednesday, 1 Nov 2017 03:06am EDT 

Nov 1 (Reuters) - OLD MUTUAL PLC :‍STRATEGIC MINORITY SHAREHOLDING TO BE RETAINED IN NEDBANK GROUP TO UNDERPIN ONGOING COMMERCIAL RELATIONSHIP BETWEEN COMPANIES HAS BEEN AGREED AT 19,9%.‍19,9% SHAREHOLDING WILL BE HELD BY OML, WHICH WILL HAVE A PRIMARY LISTING ON JSE AND A SECONDARY LISTING ON LONDON STOCK EXCHANGE.​.‍OML WILL BE LISTED ON BOTH EXCHANGES AT EARLIEST OPPORTUNITY IN 2018 FOLLOWING PUBLICATION OF OLD MUTUAL PLC'S 2017 FULL-YEAR RESULTS ANNOUNCEMENT.​.  Full Article

Old Mutual cuts stake in Indivior to 4.36 pct
Monday, 9 Oct 2017 08:00am EDT 

Oct 9 (Reuters) - Indivior Plc :OLD MUTUAL CUTS STAKE IN INDIVIOR TO 4.36 PERCENT FROM 7.01 PERCENT STAKE EARLIER- FILING‍​.  Full Article

Old Mutual plans to list two divisions in 2018, H1 operating profit up 37 pct
Friday, 11 Aug 2017 02:00am EDT 

Aug 11 (Reuters) - Old Mutual Plc :Old mutual interim results 2017 - parts 1 & 2.Pre-Tax adjusted operating profits were up 37%.Pre-Tax adjusted operating profit (aop) of £969 million (h1 2016: £708 million), up 37%.Ifrs pre-tax profit of £940 million (h1 2016: £534 million); including profit on disposal of omam of £108 million.2017 first interim dividend of 3.53p up 32% and in line with our capital management policy.Old mutual wealth (omw) aop £134 million up 29%..Old mutual wealth strong net client cash flow (nccf) growth, up 53%.We remain on track to deliver managed separation within stated timing and costs..Removal of plc central operational and debt costs . Delivered annualised cost savings of £31 million.Omam is now independent from old mutual plc.During h1 2017 we have sold and contracted to sell approximately 45% of omam business for net proceeds of $785 million, which would reduce old mutual plc's stake to 5.5%.Sale of 26% stake in kotak mahindra old mutual life insurance for net proceeds of £138 million, due to complete in h2 2017.We expect listing of omw and old mutual limited (oml), south african holding company, to take place in 2018 at earliest opportunity after old mutual's 2017 full year results.  Full Article

Old Mutual appoints Mike Ilsley as CFO of Old Mutual Emerging Markets
Friday, 11 Aug 2017 01:57am EDT 

Aug 11 (Reuters) - OLD MUTUAL PLC :MIKE ILSLEY APPOINTED CHIEF FINANCIAL OFFICER OF OLD MUTUAL EMERGING MARKETS.OML WILL BE NEW SOUTH AFRICAN HOLDING COMPANY, WHICH IS PLANNED TO BE LISTED NEXT YEAR.  Full Article

Nedbank Group reports HY headline earnings of 5.3 bln rand
Wednesday, 2 Aug 2017 01:05am EDT 

Aug 2 (Reuters) - NEDBANK GROUP LTD ::NEDBANK GROUP-2017 GUIDANCE FOR GROWTH IN DILUTED HEPS IS FOR THIS MEASURE TO BE POSITIVE, BUT LESS THAN OR EQUAL TO GROWTH IN NOMINAL GDP.HY HEADLINE EARNINGS OF R5.3BN, BEING 2.9% DOWN ON OUR 2016 FIRST-HALF.EXCLUDING ETI, HY DHEPS INCREASED BY 5,9% TO 1 316 CENTS (JUNE 2016: 1 243 CENTS).HY CET1 CAPITAL RATIO OF 12,3% (JUNE 2016: 11,6%) AVERAGE LCR FOR Q2 OF 104,6% (JUNE 2016: 93,1%).HY NEDBANK'S NET ASSET VALUE PER SHARE INCREASED TO 16 200 CENTS (JUNE 2016: 15 826 CENTS).HY NII INCREASED BY 4,0% TO R13 548M (JUNE 2016: R13 028M), AHEAD OF AVERAGE INTEREST-EARNING BANKING ASSET GROWTH OF 2,4%.NEDBANK GROUP LTD - COLLABORATION WITH OM PLC TO UNLOCK R1,0BN OF SYNERGIES BY END OF 2017 FROM OM PLC BUSINESSES IN SA, REMAINS ON TRACK.NEDBANK GROUP LTD - "IN LIGHT OF WEAK ECONOMIC OUTLOOK IN SA", CO REVISED GUIDANCE ON FINANCIAL PERFORMANCE FOR FULL YEAR 2017.GIVEN SA'S WEAKER-THAN-EXPECTED GROWTH IN FIRST HALF, NEDBANK GROUP'S CURRENT FORECAST FOR GROWTH IN 2017 IS 0,6%, WITH RISK TO GROWTH ON DOWNSIDE.NEDBANK GROUP LTD - SEES 2017 AVERAGE INTEREST-EARNING BANKING ASSETS TO GROW BELOW NOMINAL GDP GROWTH.NEDBANK GROUP LTD - SEES 2017 NIM TO BE SLIGHTLY ABOVE 2016 REBASED LEVEL OF 3,54%.NEDBANK GROUP LTD - SEES 2017 CLR TO INCREASE FROM LEVEL OF 47 BPS IN FIRST HALF OF 2017 TOWARDS BOTTOM END OF OUR TARGET RANGE OF 60 TO 100 BPS.  Full Article

Peter Bain steps down as CEO of Old Mutual U.S. fund arm
Friday, 30 Jun 2017 02:01am EDT 

June 30 (Reuters) - Old Mutual Plc :Old mutual plc - effective june 30, 2017, peter bain is stepping down from his roles as president, chief executive officer and director.Old mutual plc - james ritchie, chairman of omam board, to serve as executive chairman, interim ceo while board conducts search for company's next ceo.  Full Article

Old Mutual solvency capital ratio falls in 2016
Friday, 30 Jun 2017 02:00am EDT 

June 30 (Reuters) - Old Mutual Plc publishes solvency and financial condition report::Group solvency ii ratio of 122.3 percent as at dec 31 2016.Group solvency ii ratio declined from 138 percent jan 1 2016.Decline mainly due weakening stg versus rand, dividend payments, landmark partners purchase by omam, rise in capital requirements.  Full Article

CORRECTED-BRIEF-Old Mutual says OMAM prices public offering of 6 mln ordinary shares

* SAYS ‍OM ASSET MANAGEMENT PLC ANNOUNCES PRICING OF PUBLIC OFFERING OF 6,039,630 OF ORDINARY SHARES FOR AGGREGATE PROCEEDS OF ABOUT $94 MILLION​