Edition:
United States

Old Mutual PLC (OML.L)

OML.L on London Stock Exchange

234.80GBp
17 Jan 2018
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Latest Key Developments (Source: Significant Developments)

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

Old Mutual says Nkosana Moyo steps down to pursue political interests​
Thursday, 29 Jun 2017 10:41am EDT 

June 29 (Reuters) - Old Mutual Plc ::‍Nkosana Moyo has stepped down from Old Mutual board with immediate effect in order to pursue his political interests further​.‍Since his appointment in september 2013, Moyo has served on group audit and remuneration committees​.‍Membership of those committees will now be reviewed by board​.  Full Article

South Africa's Nedbank Q1 net interest margin widens
Thursday, 18 May 2017 02:01am EDT 

May 18 (Reuters) - Nedbank :Net interest income grew at mid-single digit levels.Nedbank net interest income grew at mid-single digit levels.Nedbank net interest margin (nim) for period widened ahead of full year 2016 level of 3,54% and q1 2016 level of 3,51%.Nedbank non-interest revenue grew at low-to-mid single digit levels.Nedbank nedj.j group's share of eti's attributable loss of usd 427m for fourth-quarter in 2016 was approximately r1,2bn (q1 2016: r676m loss).It will now be more challenging to achieve full 2017 year guidance provided at time of release of our 2016 annual results.  Full Article

Old Mutual Asset Management prices offering at $14.55 per share
Tuesday, 16 May 2017 02:20am EDT 

May 16 (Reuters) - Old Mutual Plc , :Om asset management plc ("omam") announced today pricing of a public offering of 17.3 million of its ordinary shares at a public offering price of $14.55 per share.Public offering is expected to close on 19 may 2017.Ordinary shares are being offered by old mutual plc, through its wholly owned subsidiary, om group (uk) limited.Underwriters also have a 30- day option to purchase up to an additional 2.595 million ordinary shares at public offering price, less underwriting discount.Omam will not sell any shares in offering and will not receive any proceeds from sale of shares.  Full Article

Old Mutual says OM Asset Management launches secondary share offering
Tuesday, 16 May 2017 02:00am EDT 

May 16 (Reuters) - Old Mutual Plc ::OMAM announces launch of secondary offering and entry into private repurchase agreement .OM Asset Management Plc has launched a public offering of 17.3 million of its ordinary shares.Ordinary shares are being offered by Old Mutual, through its wholly owned subsidiary, OM Group (UK) Ltd.Underwriters also have a 30-day option to purchase up to an additional 2.595 million ordinary shares at price set forth.Morgan Stanley & Co LLC is acting as sole book running manager for offering.  Full Article

Old Mutual Asset Management launches offering of 17.3 mln shares
Tuesday, 16 May 2017 02:00am EDT 

May 16 (Reuters) - Old Mutual Plc , :Omam announces launch of secondary offering.Old mutual plc ("old mutual") today announces that om asset management plc ("omam") has launched a public offering of 17.3 million of its ordinary shares.Ordinary shares are being offered by old mutual, through its wholly owned subsidiary, om group (uk) limited.Underwriters also have a 30-day option to purchase up to an additional 2.595 million ordinary shares at price set forth in prospectus supplement.In addition, on 14 may 2017, omam entered into a repurchase agreement with old mutual plc and om group (uk) limited pursuant to which omam agreed to repurchase 5 million ordinary shares directly from om group (uk) limited.  Full Article

Old Mutual says terminated contract with IFDS
Tuesday, 2 May 2017 03:50am EDT 

May 2 (Reuters) - Old Mutual Plc ::Terminated its contract with IFDS for "bluedoor" back-end investment administration platform.Has contracted with FNZ to deliver platform and outsourcing services..Expect an enhanced customer and adviser proposition supplied by FNZ to be operational for new business by late 2018/early 2019.Preliminary cost estimates for operational delivery of FNZ system are of order of 120-160 mln stg.New platform is expected to provide additional functionality that was not included in previous arrangements..Management estimate this would have cost in excess of a further £50 million and taken a further two years post migration to deliver..Decisions do not affect Old Mutual Plc's managed separation..  Full Article

BRIEF-Old Mutual To Undertake Public Interest Conditions To Internal Restructure Process

* S.A'S COMPETITION COMMISION- OLD MUTUAL AND ECONOMIC DEVELOPMENT DEPARTMENT TO INCORPORATE PUBLIC INTEREST CONDITIONS TO INTERNAL RESTRUCTURE PROCESS