Old Mutual offers GBP350 million perpetual preferred callable securities

Old Mutual offers GBP350 million perpetual preferred callable securities

Old Mutual plc today announces its invitation to holders of its outstanding GBP350,000,000 Perpetual Preferred Callable Securities (the “Securities”) to tender any and all of their Securities for purchase by the Company for cash (such invitation the “Offer”); and

Securityholders to approve, by Extraordinary Resolution, certain modifications to the terms and conditions of the Securities (the “Conditions”) to provide for the Company to redeem (the “Issuer Early Redemption”) all, but not some only, of the Securities remaining (if any) on completion of the Offer (the “Proposal”),

Subject, in each case, to the terms and conditions set out in the Tender Offer and Solicitation Memorandum dated 10 January 2017 (the “Tender Offer and Solicitation Memorandum”) including, in the case of the Offer, the offer and distribution restrictions described below and set out more fully in the Tender Offer and Solicitation Memorandum.

Copies of the Tender Offer and Solicitation Memorandum are available from the Tender Agent as set out below. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer and Solicitation Memorandum.