Clients of Allan Gray increases stake in Old Mutual Limited

 

Clients of Allan Gray increases stake in Old Mutual Limited

Staff Reporter

HARARE, Old Mutual Limited says clients of Allan Gray now holds 10.0018% of the JSE listed total issued ordinary shares of the company.

In a notice to its shareholders, Old Mutual said the acquisition was done within the confines of the JSE Limited Listing Requirements, among other regulatory requirements.

“….. in accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (“the Act”) and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Old Mutual has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by Allan Gray’s clients now amounts to 10.0018% of the total issues ordinary shares of the Company. As required in terms of section 122(3)(a) of the Act, Old Mutual has filed the required notice with the Takeover Regulation Panel,” read the notice.

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 it has niche business in Asia. With over 170 years of heritage across sub-Saharan Africa, it is a crucial part of the communities it serve and broader society on the continent.