OLD MUTUAL LIMITED - Engagement with Shareholders Regarding Old Mutuals Remuneration Implementation Report

Engagement with Shareholders Regarding Old Mutual’s Remuneration Implementation Report

Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or “the Company”)



Ref 24/20
15 June 2020



ENGAGEMENT WITH SHAREHOLDERS REGARDING OLD MUTUAL’S REMUNERATION IMPLEMENTATION
REPORT

Shareholders of Old Mutual are referred to the results of annual general meeting
announcement released on the Stock        Exchange News Service on        01 June      2020
(“Announcement”).


The non-binding advisory resolution on the endorsement of the remuneration policy
report, disclosed in the Announcement achieved over 92% shareholder support,
exceeding the requisite 75% majority of votes.


The non-binding advisory resolution on the endorsement of the remuneration
implementation report, disclosed in the Announcement achieved 73.77% approval
from shareholders and thus not achieving the requisite 75% majority of votes.


In terms of the recommendations of the King IV Report on Corporate Governance
for South Africa,     2016 and paragraph      3.84(k) of the      JSE Limited Listings
Requirements, an engagement with the dissenting shareholders is required.


Old Mutual expects that its remuneration policies and practices will mature and
improve through an iterative process that will be facilitated through continuous
open and transparent engagement with stakeholders.          Consequently, Old Mutual
invites dissenting shareholders to raise concerns or recommendations regarding
the   non-binding    advisory    resolution   directly   with    the   chairman   of   the
remuneration   committee,   Mr    Itumeleng   Kgaboesele,   by   making   their   written
submissions to the Group Company Secretary, Elsabe Kirsten, using the following
email address - AGM@oldmutual.com, by no later than 17:00 on Tuesday 30 June
2020 (“closing date”).
For any other enquiries relating to the abovementioned resolutions, you may
contact the Group Company Secretary using the email address – AGM@oldmutual.com.


Subsequent to the closing date of the aforementioned submissions, the Company
will provide feedback to the dissenting shareholders in a manner acceptable to
the shareholders concerned.


Sandton


Sponsors

Johannesburg Stock            Merrill Lynch South Africa (Pty) Limited
Exchange

Namibia                       PSG Wealth Management (Namibia) (Proprietary)
                              Limited

Zimbabwe                      Imara Capital Zimbabwe plc

Malawi                        Stockbrokers Malawi Limited


Enquiries


Investor Relations
Sizwe Ndlovu                  T: +27 (0)11 217 1163
Head of Investor Relations    E: tndlovu6@oldmutual.com


Tokelo Mulaudzi               T: +27 (0)11 217 1042
Investor Relations Manager    E: tmulaudzi3@oldmutual.com


Communications
Tabby Tsengiwe                T: +27 (11) 217 1953
Head of Communications        M: +27 (0)60 547 4947
                              E: ttsengiwe@oldmutual.com



Notes to Editors


Old Mutual is a premium African financial services Group that offers a broad
spectrum of financial solutions to retail and corporate customers across key
markets segments in 14 countries. Old Mutual's primary operations are in South
Africa and the rest of Africa, and we have a niche business in China. With over
175 years of heritage across sub-Saharan Africa, we are a crucial part of the
communities we serve and broader society on the continent.


For further information on Old Mutual, and its underlying businesses, please
visit the corporate website at www.oldmutual.com.

Date: 15-06-2020 12:00:00
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