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Old Mutual Limited reported an update on its share repurchase programme, stating it cumulatively repurchased 147,004,816 ordinary shares, or 3.12% of its shares in issue as of May 30, 2025, between October 3, 2025, and March 31, 2026, for R2,074,052,548.22. Of these, 123,254,816 shares were de-listed and cancelled by April 2, 2026, with 23,750,000 shares remaining as treasury shares.
| Date | 2 Apr 2026 |
| Time | 07:30:00 |
| Category | Miscellaneous |
| ID | 1555Z |
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
JSE Alpha Code: OMLI
LSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or "Company")
Ref: 06/26
02 April 2026
UPDATE ON SHARE REPURCHASE PROGRAMME
Shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited ("JSE") on 3 October 2025 informing shareholders of the commencement of the Repurchase Programme ("the Repurchase"). In line with paragraph 7.90 of the JSE Listings Requirements, shareholders are advised that, in accordance with the general authority granted by shareholders at the Company's Annual General Meeting held on 30 May 2025 ("General Authority"), the Company has cumulatively repurchased 147 004 816 ordinary shares ("Shares") in aggregate, being 3.12% of the Company's Shares in issue as at 30 May 2025.
Details of the Repurchase
|
Item |
Detail |
|
Dates of repurchases |
3 October 2025 to 31 March 2026 |
|
Total ordinary shares repurchased |
147 004 816 shares |
|
Ordinary shares de-listed and cancelled (reverted to authorised but unissued share capital) between between 27 October 2025 and 2 April 2026 |
123 254 816 shares |
|
Shares remaining as treasury shares (to be de-listed and cancelled by 10 April 2026) |
23 750 000 shares |
|
Total treasury shares held in the Group (number and percentage of total in issue) including the 23 750 000 shares above |
161 750 000 shares / 3.43%
|
|
Total value of shares repurchased |
R2 074 052 548.22 |
|
Average price paid per share |
R14.10874 per share |
|
Highest price paid per share |
R15.49880 per share |
|
Lowest price paid per share |
R12.95650 per share |
|
Percentage of Shares which may still be repurchased by the Company in terms of the General Authority |
6.88% |
|
Number of Shares which may still be repurchased by the Company in terms of the General Authority |
324 284 924 |
All repurchases were effected on the open market through the JSE central order book, and at prices not greater than 10% above the volume weighted average price of Old Mutual ordinary shares traded on the JSE for the five business days immediately preceding the date on which such purchases were effected, in compliance with the JSE Listings Requirements. The Company confirms that any repurchase undertaken during a prohibited period was effected through a repurchase programme as contemplated in, and conducted in compliance with, the JSE Listings Requirements.
The Board confirms that it has considered the effect of the repurchases and it has complied with the solvency and liquidity test in accordance with the Companies Act.
Source of funds
The shares were repurchased from the Company's available surplus cash resources.
Impact of the Repurchase on Financial Information
The repurchase programme has the effect of reducing the number of ordinary shares in issue. Total shareholders' equity is reduced by the consideration paid, with a corresponding reduction in cash and cash equivalents on the statement of financial position.
This announcement is also available on the Old Mutual website at www.oldmutual.com.
Sandton
Sponsors
JSE equity sponsor: Tamela Holdings (Proprietary) Limited
JSE debt sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
NSX: PSG Wealth Management (Namibia) (Proprietary) Limited
ZSE: Imara Capital Zimbabwe plc
MSE: Stockbrokers Malawi Limited
Enquiries
Investor Relations
Langa Manqele
M: +27 (0)82 295 9840
E: investorrelations@oldmutual.com
Communications
Wendy Tlou
M: +27 (0)82 906 5008
E: oldmutualnews@oldmutual.com
About Old Mutual
Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 12 countries. Old Mutual's primary operations are in Africa and it has a niche business in China. With over 180 years of heritage across sub-Saharan Africa, Old Mutual is a crucial part of the communities it serves as well as broader society on the continent.
For further information on Old Mutual and its underlying businesses, please visit the Corporate website at www.oldmutual.com