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United States

Old Mutual Ltd (OMU.L)

OMU.L on London Stock Exchange

119.08GBp
4:48am EDT
Change (% chg)

3.86 (+3.35%)
Prev Close
115.22
Open
115.02
Day's High
119.68
Day's Low
115.02
Volume
2,684,151
Avg. Vol
4,393,871
52-wk High
216.90
52-wk Low
105.40

Latest Key Developments (Source: Significant Developments)

Old Mutual Ltd Says CEO Moyo Handed Employment Termination Notice
2:30am EDT 

June 18 (Reuters) - Old Mutual Ltd ::OLD MUTUAL LTD - UPDATE ON PETER MOYO AND TERMINATION OF EMPLOYMENT.OLD MUTUAL LTD - PETER MOYO HAS, ON 17 JUNE 2019, BEEN GIVEN NOTICE OF TERMINATION OF EMPLOYMENT..OLD MUTUAL LTD - BOARD WILL SHORTLY INITIATE A PROCESS TO APPOINT A NEW CEO.OLD MUTUAL LTD - BOARD CONSIDERS IT APPROPRIATE TO PROVIDE CERTAIN MATERIAL FACTS THAT HAVE LED TO TERMINATION OF MOYO.OLD MUTUAL LTD - IAIN WILLIAMSON WILL CONTINUE TO ACT AS CEO FOR OLD MUTUAL.OLD MUTUAL LTD - DURING LATTER HALF OF 2018, OLD MUTUAL RPTC REQUESTED A REPORT ON MOYO'S RELATED PARTY TRANSACTIONS.OLD MUTUAL LTD - MOYO'S CONFLICTING INTEREST IN NMT GROUP OF COMPANIES WAS DECLARED UPON HIS EMPLOYMENT.OLD MUTUAL LTD - ONE OF CONCERNS RAISED INVOLVED TWO DECLARATIONS OF ORDINARY DIVIDENDS BY NMT CAPITAL DURING 2018 TOTALLING R115M.OLD MUTUAL LTD - RESULTANT BENEFIT TO MOYO AND HIS OWN PERSONAL INVESTMENT COMPANY WAS R30.6M FROM NMT DIVIDENDS.OLD MUTUAL LTD - BOARD ENGAGED WITH MOYO ABOUT POSSIBILITY OF AGREED SEPARATION, BUT NO AGREEMENT COULD BE REACHED.OLD MUTUAL LTD - VARIOUS CONCERNS EMERGED RELATING TO MOYO'S CONDUCT IN RELATION TO HIS CONFLICTING INTEREST REGARDING RELATED PARTY TRANSACTIONS.OLD MUTUAL - AFTER "UNSUCCESSFUL ATTEMPTS" TO ENGAGE ON SEPARATION TERMS, BOARD RESOLVED TO GIVE NOTICE OF TERMINATION OF EMPLOYMENT TO MOYO.OLD MUTUAL - NOT BEEN PROVIDED WITH ACCEPTABLE EXPLANATION WHY ORDINARY DIVIDENDS WERE DECLARED WHILST DEBT TO OLD MUTUAL WAS OUTSTANDING.  Full Article

Old Mutual Qtrly Gross Flows Of R39.3 Bln Were 10% Behind Prior Year
Friday, 24 May 2019 08:00am EDT 

May 24 (Reuters) - Old Mutual Ltd ::OLD MUTUAL LTD - QTRLY LIFE APE SALES OF R2,945 MILLION WERE 4% AHEAD OF PRIOR YEAR.OLD MUTUAL LTD - QTRLY GROSS FLOWS OF R39.3 BILLION WERE 10% BEHIND PRIOR YEAR.OLD MUTUAL LTD - SALE OF BUSINESS IN LATIN AMERICA COMPLETED ON 1 APRIL 2019, WITH GROSS PROCEEDS OF R4.4 BILLION ($308 MILLION) RECEIVED.OLD MUTUAL - IF POOR ECONOMIC CONDITIONS PERSIST DURING 2019 IN OUR KEY MARKETS, THIS WILL FURTHER CHALLENGE ACHIEVEMENT OF THIS TARGET.OLD MUTUAL LTD - EXPECT TO REALISE AN IFRS PROFIT ON DISPOSAL.  Full Article

Old Mutual Says Decided To Separate With CEO Peter Moyo
Friday, 24 May 2019 08:00am EDT 

May 24 (Reuters) - Old Mutual Ltd ::OLD MUTUAL LTD - UPDATE: SUSPENSION OF CHIEF EXECUTIVE OFFICER.OLD MUTUAL LTD - HAS DECIDED TO SEPARATE WITH GROUP CEO, PETER MOYO.OLD MUTUAL - APPOINTED OLD MUTUAL'S CHIEF OPERATING OFFICER, IAIN WILLIAMSON, AS ACTING CHIEF EXECUTIVE OFFICER.OLD MUTUAL LTD - CONSIDERED IT APPROPRIATE TO SUSPEND MOYO, SO RELEASING HIM FROM HIS DUTIES AND ENABLING APPOINTMENT OF AN INTERIM CEO.OLD MUTUAL - DECISION TO SEPARATE WITH CEO NEITHER RESULT OF PERFORMANCE NOR FINANCIAL MISCONDUCT RELATED TO OLD MUTUAL BUSINESS.OLD MUTUAL LTD - DECISION TO SEPARATE WITH CHIEF EXECUTIVE OFFICER IS "PURELY RELATED TO CONFLICT OF INTEREST ISSUE".  Full Article

Old Mutual FY Adj. HEPS Of 239.1 Cents
Monday, 11 Mar 2019 01:08am EDT 

March 11 (Reuters) - Old Mutual Ltd ::FINAL DIVIDEND 72 CENTS PER SHARE.ON TRACK TO ACHIEVE EXPENSE EFFICIENCY TARGET OF R1 BILLION OF RUN RATE SAVINGS BY END OF 2019.FY ADJUSTED HEADLINE EARNINGS PER SHARE 239.1 CENTS.START OF YEAR IS SEASONALLY SLOW FROM A SALES PERSPECTIVE WITH ADDED BACKDROP OF A STRAINED CONSUMER ENVIRONMENT.CLOSING FUM OF R1.044 BILLION DECLINED BY 3% FROM END OF 2017 AT FY END.GROUP SOLVENCY RATIO 170% AT FY END (FY 2017: 161%).CONTINUE TO SEE ECONOMIC HEADWINDS IN NEAR TERM, GROUP IS RESILIENT, WELL CAPITALISED AND MANAGING ITS COSTS TIGHTLY.  Full Article

Mpact Says Old Mutual Now Holds 2.29 Pct Of Total Issued Ordinary Shares Of Company
Monday, 26 Nov 2018 07:42am EST 

Nov 26 (Reuters) - Mpact Ltd ::MPACT HAS RECEIVED FORMAL NOTIFICATION THAT OLD MUTUAL LIMITED HAS DECREASED ITS INTEREST IN ORDINARY SHARES OF COMPANY.TOTAL INTEREST IN ORDINARY SHARES OF COMPANY HELD BY OLD MUTUAL NOW AMOUNTS TO 2.29% OF TOTAL ISSUED ORDINARY SHARES OF COMPANY.  Full Article

Old Mutual Announces Outcome Of Bondholder Meetings
Thursday, 25 Oct 2018 09:09am EDT 

Oct 25 (Reuters) - Old Mutual Ltd ::OLD MUTUAL PLC - OUTCOME BONDHOLDER MEETINGS.OLD MUTUAL - CONVENING OF ADJOURNED NOTEHOLDER MEETINGS, OUTCOME OF SEPARATE NOTEHOLDER MEETINGS OF OUTSTANDING £500MLN 8 PERCENT NOTES DUE JUNE 3 2021.OLD MUTUAL LTD - ANNOUNCES OUTCOME OF ITS OUTSTANDING £450 MILLION 7.875 PER CENT. SUBORDINATED NOTES DUE 3 NOVEMBER 2025.  Full Article

Old Mutual Completes Managed Separation Process With R43.2 Bln Distribution Of Nedbank Shares
Wednesday, 26 Sep 2018 08:45am EDT 

Sept 26 (Reuters) - Old Mutual::UNBUNDLING OF MAJORITY SHAREHOLDING IN NEDBANK TO SHAREHOLDERS, MARKING TOTAL DISTRIBUTION TO OLD MUTUAL SHAREHOLDERS WORTH R43.2 BILLION.COMPLETES MANAGED SEPARATION PROCESS WITH R43.2 BILLION DISTRIBUTION OF NEDBANK SHARES TO SHAREHOLDERS, R7 BILLION TO BE PAID IN DIVIDENDS.  Full Article

Old Mutual HY Adjusted Headline Earnings Of R5.39 Bln Vs R5.36 Bln
Friday, 31 Aug 2018 01:23am EDT 

Aug 31 (Reuters) - Old Mutual Ltd ::OLD MUTUAL LTD - HY IFRS PROFIT AFTER TAX ATTRIBUTABLE TO EQUITY HOLDERS OF PARENT OF R10,648 MILLION, UP 42 PERCENT (DROPS EXTRANEOUS WORDS).OLD MUTUAL LTD - DECLARING SPECIAL DIVIDEND OF 100 CENTS PER SHARE.OLD MUTUAL LTD - HY ADJUSTED HEADLINE EARNINGS (AHE) OF R5,393 MILLION, MARGINALLY UP ON PRIOR YEAR (HY 2017: R5,359 MILLION).OLD MUTUAL LTD - FUNDS UNDER MANAGEMENT (FUM) UP 2 PERCENT TO R1.097 BILLION AT HY-END.OLD MUTUAL LTD - DECLARING FIRST INTERIM DIVIDEND OF 45 CENTS PER SHARE.OLD MUTUAL LTD - HY NET CLIENT CASH FLOW (NCCF) OF R9.4 BILLION, AN INCREASE OF R7.8 BILLION (HY 2017: R1.6 BILLION).OLD MUTUAL LTD - AT HY END GROUP SOLVENCY RATIO OF 164 PERCENT.OLD MUTUAL - GLOBAL GROWTH IS STILL EXPECTED TO RISE, ASSUMING TRADE TENSIONS, MARKET RISKS DO NOT RESULT IN A DOWNTURN.OLD MUTUAL LTD - REMAIN CONFIDENT IN DELIVERING SOLID 2018 RESULTS.OLD MUTUAL LTD - AHE WILL CONTINUE TO BE INFLUENCED BY INVESTMENT RETURNS IN SOUTH AFRICA AND ZIMBABWE IN FY.OLD MUTUAL LTD - HY BASIC EARNINGS PER SHARE 229.4 CENTS.OLD MUTUAL LTD - ACHIEVED APPROXIMATELY R270 MILLION OF RECURRING COST SAVINGS IN FIRST HALF OF 2018, INCURRING ONE OFF COSTS OF R70 MILLION.OLD MUTUAL LTD - REMAIN ON TRACK TO ACHIEVE COST EFFICIENCY TARGET OF R1 BILLION OF RUN RATE SAVINGS BY END OF 2019.OLD MUTUAL - H1 CHARACTERISED BY VOLATILITY IN GLOBAL EQUITY, CURRENCY, BOND MARKETS DUE TO ESCALATING GLOBAL TRADE TENSIONS, REVIVED U.S. ECONOMY.  Full Article

Old Mutual Says Allan Gray's Clients Hold 10.1 Pct Stake In Co
Friday, 6 Jul 2018 05:00am EDT 

July 6 (Reuters) - Old Mutual Ltd ::ACQUISITION OF SECURITIES BY CLIENTS OF ALLAN GRAY.TOTAL INTEREST IN ORDINARY SHARES OF COMPANY HELD BY ALLAN GRAY'S CLIENTS NOW AMOUNTS TO 10.1230 PCT OF TOTAL ISSUES ORDINARY SHARES OF COMPANY.RECEIVED FORMAL NOTIFICATION THAT CLIENTS OF ALLAN GRAY HAVE, IN AGGREGATE, ACQUIRED INTEREST IN ORDINARY SHARES OF COMPANY.  Full Article

Quilter listing values firm at 2.76 bln stg
Monday, 25 Jun 2018 02:04am EDT 

June 25 (Reuters) - Quilter Plc ::ANNOUNCES SUCCESSFUL PRICING OF ITS INITIAL PUBLIC OFFERING AT 145 PENCE PER ORDINARY SHARE.BASED ON OFFER PRICE, MARKET CAPITALISATION OF COMPANY AT ADMISSION WILL BE APPROXIMATELY £2,758 MILLION.BASED ON OFFER PRICE, MARKET CAPITALISATION OF COMPANY AT ADMISSION WILL BE APPROXIMATELY £2,758 MILLION.  Full Article

Old Mutual CEO exits in 'conflict of interest' board dispute

JOHANNESBURG Old Mutual's chief executive left on Friday after what South Africa's second-biggest insurer described as a "breakdown in trust" with Peter Moyo, who cited a disagreement over how it should engage with an investment firm he founded.