Last checked at 21 May 2021 15:15
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 14/21
21 May 2021
RESULTS OF SHAREHOLDER VOTING AT THE ANNUAL GENERAL MEETING ("AGM")
Shareholders are advised that the ordinary and special resolutions proposed in the notice to shareholders dated April 2021, were passed by the requisite majority of votes of shareholders present in person or represented by proxy at the Company's AGM held on Friday, 21 May 2021.
The voting results were as follows:
ORDINARY RESOLUTIONS | TOTAL SHARES VOTED | SHARES ABSTAINED | |||
FOR (%) | AGAINST (%) | NUMBER | %* | %* | |
Ordinary Resolution 1 - To receive and adopt the consolidated audited annual financial statements for the Company and its subsidiaries for the year ended 31 December 2020 | 99.982% | 0.018% | 3 406 772 459 | 72.353% | 0.13% |
Ordinary Resolution 2.1 - To re-elect Trevor Manuel as a director of the Company | 99.627% | 0.373% | 3 407 003 410 | 72.358% | 0.13% |
Ordinary Resolution 2.2 - To re-elect Itumeleng Kgaboesele as a director of the Company | 91.728% | 8.272% | 3 406 990 319 | 72.357% | 0.13% |
Ordinary Resolution 2.3 - To re-elect Marshall Rapiya as a director of the Company | 99.910% | 0.090% | 3 406 802 105 | 72.353% | 0.13% |
Ordinary Resolution 2.4 - To elect Brian Armstrong as a director of the Company | 99.918% | 0.082% | 3 406 640 241 | 72.350% | 0.14% |
Ordinary Resolution 2.5 - To elect Olufunke Ighodaro as a director of the Company | 81.176% | 18.824% | 3 405 805 830 | 72.332% | 0.15% |
Ordinary Resolution 2.6 - To elect Jaco Langner as a director of the Company | 92.157% | 7.843% | 3 404 702 285 | 72.309% | 0.18% |
Ordinary Resolution 2.7 - To elect Nomkhita Nqweni as a director of the Company | 99.911% | 0.089% | 3 405 811 313 | 72.332% | 0.15% |
Ordinary Resolution 3.1 - To elect Olufunke Ighodaro as a member of the Audit committee | 81.646% | 18.354% | 3 405 817 140 | 72.333% | 0.15% |
Ordinary Resolution 3.2 - To elect Itumeleng Kgaboesele as a member of the Audit committee | 99.439% | 0.561% | 3 406 264 579 | 72.342% | 0.14% |
Ordinary Resolution 3.3 - To elect Jaco Langner as a member of the Audit committee | 99.895% | 0.105% | 3 405 059 526 | 72.316% | 0.17% |
Ordinary Resolution 3.4 - To elect John Lister as a member of the Audit committee | 99.788% | 0.212% | 3 406 080 752 | 72.338% | 0.15% |
Ordinary Resolution 3.5 - To elect Nosipho Molope as a member of the Audit committee | 81.588% | 18.412% | 3 406 297 161 | 72.343% | 0.14% |
Ordinary Resolution 3.6 - To elect Nomkhita Nqweni as a member of the Audit committee | 98.574% | 1.426% | 3 405 794 159 | 72.332% | 0.15% |
Ordinary Resolution 4.1 - To reappoint Deloitte & Touche as joint independent auditors until the conclusion of the next AGM of the company | 98.641% | 1.359% | 3 407 822 905 | 72.375% | 0.11% |
Ordinary Resolution 4.2 - To reappoint KPMG Inc. as joint independent auditors until the conclusion of the next AGM of the Company | 70.593% | 29.407% | 3 407 629 436 | 72.371% | 0.12% |
Ordinary Resolution 5.1 - Non-binding advisory vote on the Company's remuneration policy | 54.454% | 45.546% | 3 402 600 218 | 72.264% | 0.22% |
Ordinary Resolution 5.2 - Non-binding advisory vote on the Company's remuneration implementation report | 67.495% | 32.505% | 3 402 635 451 | 72.265% | 0.22% |
Ordinary Resolution 6 - To authorise any director or the Group Company Secretary to implement the ordinary resolutions above as well as the special resolutions to follow | 99.338% | 0.662% | 3 408 272 945 | 72.385% | 0.10% |
Special Resolution 1 - To approve the remuneration payable to non-executive directors | 98.116% | 1.884% | 3 403 903 125 | 72.292% | 0.19% |
Special Resolution 2 - To grant general authority to acquire the Company's own ordinary shares | 99.946% | 0.054% | 3 396 868 928 | 72.143% | 0.08% |
Special Resolution 3 - To approve the provisions of financial assistance to subsidiaries and other related and inter-related entities and to directors, prescribed officers and other persons participating in share or other employee incentive schemes | 78.879% | 21.121% | 3 403 378 527 | 72.281% | 0.21% |
*as a percentage of total number of shares in issue 4,708,553,649 as at 9 May 2021.
The Board is disappointed with the outcome of the voting on the 2020 Remuneration Policy and Implementation Report following the significant improvement in the voting outcome for the 2019 report.
"The economic uncertainty created by the COVID-19 pandemic and the impact on business performance made 2020 a challenging year to set and implement competitive remuneration policies. We have engaged extensively with shareholders to understand their concerns and we recognise the fine balance between remuneration outcomes which continue to motivate and retain our best people whilst remaining aligned to shareholders' interests," said Itumeleng Kgaboesele, Chairman of the Remuneration committee.
The Group will continue engaging directly with shareholders to understand their exact issues and concerns so that appropriate decisions can be made with respect to remuneration policy and implementation for the current and future years. The Group will extend an invitation to shareholders through a SENS announcement setting out the manner and the timing of the engagement in due course.
"We remain committed to the continued improvement of our remuneration policies and practices through open and transparent engagement with all stakeholders." concludes Kgaboesele.
Sandton
Sponsors
Johannesburg Stock Exchange | Merrill Lynch South Africa (Pty) Limited |
Namibia | PSG Wealth Management (Namibia) (Proprietary) Limited |
Zimbabwe | Imara Capital Zimbabwe plc |
Malawi | Stockbrokers Malawi Limited |
Enquiries
Investor Relations | |
Sizwe Ndlovu Head of Investor Relations | T: +27 (0)11 217 1163 E: tndlovu6@oldmutual.com |
Communications | |
Tabby Tsengiwe Head of Communications | T: +27 (11) 217 1953 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.