Jun 28, 2018 FALG.zw | Unaudited Financial Results HY18

Financial Highlights:
- Revenue $ 2 586 834
- Gross loss $ (1 120 736)
- Operating loss $ (1 772 113)
- Loss from continuing operations before taxation $ 1 679 586)
- Total loss for the period $ (1 681 348)
- Dividend Nil
- Total comprehensive loss for the period $ (1 681 348)
- Loss per share from continuing operations (0.015) US cents

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Jun 26, 2018 OML.zw | Old Mutual Limited Admission and Appointment of Advisors

Old Mutual Plc issued the following announcement:
"Old Mutual is pleased to announce that admission of, and commencement of unconditional dealings in, the ordinary shares of Old Mutual to the Johannesburg Stock Exchange Limited (JSE), the London Stock Exchange (LSE), the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange took place at 9.00 a.m. SAST today.

Following the Second Scheme becoming effective on 25 June 2018, Old Mutual is now the holding company of Old Mutual plc. The UK Listing Authority has cancelled the listing of Old Mutual plc shares on the premium listing segment of the Official List and the LSE has cancelled the trading of Old Mutual plc shares on the LSE's main market for listed securities, in each case with effect from 9.00 a.m. SAST today. It is expected that Old Mutual plc shares will be delisted from the JSE, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange on 29 June 2018.

Peter Moyo, Chief Executive Officer of Old Mutual, said: “What’s most exciting about our listing as an independent, standalone entity is that it enables us to further unlock shareholder value and create a business with a strong strategic focus on sub-Saharan Africa."

“Our investment case is strong and compelling. Our business remains highly cash generative and is well-positioned in the right markets to drive added value from our franchises. We are privileged to have a business with a robust capital and liquidity position, which will provide the right catalyst to become a leading Pan-African financial services business."

“Exciting opportunities lie ahead for us as Old Mutual Limited and we look forward to delivering sustainable profit growth and returns for our shareholders, and making meaningful contributions to the societies in which we operate. By driving long-term economic growth in Africa, we can positively impact the lives of all our customers and communities on the continent,” concluded Moyo.

Appointment of Advisors
Old Mutual has, in addition to its current auditor, KPMG Inc., appointed Deloitte as a joint external auditor to Old Mutual with effect from today, 26 June 2018.

BofA Merrill Lynch is acting as joint financial adviser and sponsor to Old Mutual in connection with the Managed Separation.

Rothschild is acting as independent financial adviser to Old Mutual in connection with the Managed Separation.

Defined terms used but not defined in this announcement have the meanings set out in the pre-listing statement published by Old Mutual on 20 April 2018 (the “PLS”)."

Old_Mutual_Limited-Notice_of_Admission_and_Appointment_of_Advisors_26_Jun_2018

Jun 26, 2018 OML.zw | Update on Managed Separation

Old Mutual Plc issued the following update on the Manage Separation:

"Following the announcement by Old Mutual plc regarding, inter alia, the First Scheme becoming effective, and following the admission of Quilter Shares to the London Stock Exchange and the Johannesburg Stock Exchange, each on 25 June 2018, Old Mutual plc is pleased to announce that the Second Scheme of Arrangement became effective at 6.30 p.m. (London time) on 25 June 2018 after Court approval of the Second Scheme earlier that day. As a result, Old Mutual Limited is now the holding company of Old Mutual plc.

Following application by Old Mutual plc, it is expected that the UK Listing Authority will cancel the listing of Old Mutual plc Shares on the premium listing segment of the Official List and the London Stock Exchange will cancel the trading of Old Mutual plc Shares on the London Stock Exchange's main market for listed securities, in each case with effect from 8.00 a.m. (London time) today. In addition, it is expected that Old Mutual plc Shares will be delisted from the Johannesburg Stock Exchange, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange on 29 June 2018.

Old Mutual plc also expects to announce the admission of, and commencement of unconditional dealings in, Old Mutual Limited Shares to the Johannesburg Stock Exchange, London Stock Exchange, the Namibian Stock Exchange, the Zimbabwe Stock Exchange and the Malawi Stock Exchange later today.

On 30 June 2018, the following directors will step down from the Old Mutual plc Board: Zoe Cruz, Alan Gillespie, Adiba Ighodaro, Ingrid Johnson, Vassi Naidoo and Patrick O’Sullivan. After 30 June, Mike Arnold, Danuta Gray, Bruce Hemphill, Trevor Manuel and Roger Marshall will remain members of a newly constituted Old Mutual plc Board.

Patrick O’Sullivan, Chairman of Old Mutual plc, said: “I would like to thank my colleagues across the Group for their exceptional hard work in delivering the managed separation of Old Mutual. It has been an outstanding achievement to deliver the material completion of the managed separation six months ahead of schedule and on budget.

“Managed separation will unlock further value for shareholders over time. Each of the individual businesses is well positioned and I look forward to watching them grow and prosper in future years.

“When I joined Old Mutual plc as Chairman in January 2010, I promised that I would leave the businesses stronger and with attractive prospects in their respective markets. All four companies now meet these objectives as separate, independent firms.”

Update on development of Residual plc

The development of the Residual plc net asset value continues as set out in the circular published by Old Mutual on 20 April 2018 (the “Circular”). Estimates of costs are at the upper end of Old Mutual plc’s public guidance but remain tightly managed. Approximately 98% of the reinsurance obligations of Old Mutual Bermuda Reinsurance (“OMBRE”) have now expired. The remainder of capital in OMBRE may be released to OM Group (UK) Limited and, in turn, to Old Mutual plc at a future stage subject to regulatory approval. Based on the anticipated developments to Residual plc set out in the
Old Mutual plc 2017 Annual Results and on the information announced today and yesterday, 25 June 2018, our current best estimate of the economic value of Residual plc is c.£400 million. This estimate may change over time.

On the Second Scheme becoming effective, Old Mutual plc’s pre-existing capital management policy expired and Old Mutual Limited’s capital management policy became effective. Old Mutual plc has also ceased to be a regulated entity for the purposes of EU solvency capital calculations. Old Mutual Limited will remain subject, inter alia, to the undertaking to the UK Court as described in the announcement dated 20 June 2018 in respect of Old Mutual plc. Any potential transfer by Old Mutual plc will need to take into account, inter alia, the developments and future assessments by the Board of Old Mutual plc, at such a point in time, of liabilities and contingent liabilities and in line with its fiduciary duties.

BofA Merrill Lynch is acting as joint financial adviser and sponsor to Old Mutual in connection with the managed separation.

Rothschild is acting as independent financial adviser to Old Mutual on its managed separation."

Old_Mutual_plc-Update_on_Managed_Separation_26_Jun_2018

Jun 25, 2018 OML.zw | Update on Managed Separation

First Scheme Effective
Further to the announcement by Old Mutual plc (“Old Mutual”) on 20 June 2018 that the Court has sanctioned the First Scheme, Old Mutual is pleased to announce that the First Scheme became effective at 7.00 p.m. (London time) on 22 June 2018 in accordance with its terms. As part of the First Scheme, the Demerger Reduction of Capital and the Quilter Demerger have now taken effect and it is expected that the Second Scheme Court Hearing will take place later today.

Pricing of Global Offer
Following the announcement by Old Mutual on 11 June 2018 regarding the price range of the offer (the “Global Offer”) of up to 9.6% of the ordinary shares of Quilter plc (“Quilter”) (“Ordinary Shares”), Old Mutual today announces the final offer price of 145 pence per Ordinary Share. The expected offering comprises of 165,010,507 Ordinary Shares to institutional placees, 1,002,064 Ordinary Shares to certain non-executive directors of Quilter and certain non-executive directors of Old Mutual, and an over-allotment option in respect of 16,501,050 Ordinary Shares. The offer price is payable in GBP or, in respect of South African placees, Rand (converted at the reference price of 17.85 Rand per GBP). The net proceeds expected to be received by Old Mutual plc is approximately £231.1 million (on the basis of the above reference price and including expected proceeds from certain non-executive directors of Quilter and certain non-executive directors of Old Mutual), excluding any proceeds of the over-allotment option if exercised.

Old Mutual is pleased to announce that admission of, and commencement of unconditional dealings in, Quilter plc to the London Stock Exchange and the Johannesburg Stock Exchange will take place at 8.00am (London time) today.

Timetable
Old Mutual expects the Global Offer and Managed Separation to occur in accordance with the dates and times set out in the Circular.

Defined terms used but not defined in this announcement have the meanings set out in the Circular.

BofA Merrill Lynch is acting as joint financial adviser and sponsor to Old Mutual in connection with the managed separation.

Rothschild is acting as independent financial adviser to Old Mutual on its managed separation including the Global Offer.

Old_Mutual_plc-Update_on_Managed_Separation_25_Jun_2018

Jun 22, 2018 ZIMR.zw | Dividend Announcement

Details:
- Date Announced :Friday, 22 June 2018
- Dividend declared for the period :31 December 2017
- Dividend Amount per share :0.071739 US cents
- Dividend Record Date :6 July 2018
- Last day to trade cum-dividend :3 July 2018
- Dividend ex-date :4 July 2018
- Dividend Status :Declared
- Dividend Payment Date 31 July 2018
- Tax Status :Gross
- Withholding tax :10%
- Scrip Dividend Offer :Nil
- Scrip Dividend Offer Term :None

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