21 May - 5 min read

Results of shareholder voting at the Annual General Meeting

Results of shareholder voting at the Annual General Meeting

     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:


                                           TOTAL SHARES VOTED                     SHARES
                                                                                ABSTAINED
ORDINARY RESOLUTIONS
                             FOR (%)    AGAINST              NUMBER        %*            %*
                                            (%)
Ordinary Resolution 1 – To   99.982%     0.018%       3 406 772 459   72.353%        0.13%
receive and adopt the
consolidated audited
annual financial
statements for the Company
and its subsidiaries for
the year ended 31 December
2020
Ordinary Resolution 2.1 –    99.627%     0.373%       3 407 003 410   72.358%        0.13%
To re-elect Trevor Manuel
as a director of the
Company
Ordinary Resolution 2.2 –    91.728%     8.272%       3 406 990 319   72.357%        0.13%
To re-elect Itumeleng
Kgaboesele as a director
of the Company
Ordinary Resolution 2.3 –    99.910%     0.090%       3 406 802 105   72.353%        0.13%
To re-elect Marshall
Rapiya as a director of
the Company
Ordinary Resolution 2.4 –    99.918%     0.082%       3 406 640 241   72.350%        0.14%
To elect Brian Armstrong
as a director of the
Company
Ordinary Resolution 2.5 –    81.176%    18.824%       3 405 805 830   72.332%        0.15%
To elect Olufunke Ighodaro
as a director of the
Company
Ordinary Resolution 2.6 –    92.157%    7.843%        3 404 702 285   72.309%        0.18%
To elect Jaco Langner as a
director of the Company
Ordinary Resolution 2.7 –    99.911%    0.089%        3 405 811 313   72.332%        0.15%
To elect Nomkhita Nqweni
as a director of the
Company
Ordinary Resolution 3.1 –    81.646%   18.354%        3 405 817 140   72.333%        0.15%
To elect Olufunke Ighodaro
as a member of the Audit
committee
Ordinary Resolution 3.2 –    99.439%    0.561%        3 406 264 579   72.342%        0.14%
To elect Itumeleng
Kgaboesele as a member of
the Audit committee
Ordinary Resolution 3.3 –    99.895%    0.105%        3 405 059 526   72.316%        0.17%
To elect Jaco Langner as a
member of the Audit
committee
Ordinary Resolution 3.4 –    99.788%    0.212%        3 406 080 752   72.338%        0.15%
To elect John Lister as a
member of the Audit
committee
Ordinary Resolution 3.5 –    81.588%   18.412%        3 406 297 161   72.343%        0.14%
To elect Nosipho Molope as
a member of the Audit
committee
Ordinary Resolution 3.6 –    98.574%    1.426%        3 405 794 159   72.332%        0.15%
To elect Nomkhita Nqweni
as a member of the Audit
committee
Ordinary Resolution 4.1 –    98.641%    1.359%        3 407 822 905   72.375%        0.11%
To reappoint Deloitte &
Touche as joint
independent auditors until
the conclusion of the next
AGM of the company
Ordinary Resolution 4.2 –    70.593%   29.407%        3 407 629 436   72.371%        0.12%
To reappoint KPMG Inc. as
joint independent auditors
until the conclusion of
the next AGM of the
Company
Ordinary Resolution 5.1 –    54.454%   45.546%        3 402 600 218   72.264%        0.22%
Non-binding advisory vote
on the Company’s
remuneration policy
Ordinary Resolution 5.2 –    67.495%   32.505%        3 402 635 451   72.265%        0.22%
Non-binding advisory vote
on the Company’s
remuneration
implementation report
Ordinary Resolution 6 – To   99.338%    0.662%        3 408 272 945   72.385%        0.10%
authorise any director or
the Group Company
Secretary to implement the
ordinary resolutions above
as well as the special
resolutions to follow
Special Resolution 1 – To    98.116%    1.884%        3 403 903 125   72.292%        0.19%
approve the remuneration
payable to non-executive
directors
Special Resolution 2 – To    99.946%    0.054%        3 396 868 928   72.143%        0.08%
grant general authority to
acquire the Company’s own
ordinary shares
Special Resolution 3 – To    78.879%    21.121%       3 403 378 527   72.281%        0.21%
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

*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              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

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: 21-05-2021 04:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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