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JOHANNESBURG - Old Mutual (LON:OMU) Limited, the South African financial services group, has conducted a series of on-market share purchases as part of hedging transactions related to its employee incentive schemes, according to a company statement released on March 26, 2025.
The transactions, which took place between March 20 and March 25, 2025, involved the acquisition of Old Mutual ordinary shares by the Old Mutual Insure Broad-Based Black Economic Empowerment Employee Trust and the Old Mutual Insure Employee Trust. These purchases were made to support the company’s Employee Share Ownership Plan and Long-term Incentive Plan awards.
A total of 1,522,076 shares were bought on March 20 at prices ranging from R11.60 to R11.98, with a volume-weighted average price of R11.8197 per share, amounting to a value of R17,990,481.70. The same day, the Old Mutual Insure Employee Trust acquired 2,391,591 shares with a similar price range and a total value of R28,267,888.14.
Further transactions occurred on March 24, with the Old Mutual Insure Broad-Based Black Economic Empowerment Employee Trust purchasing 388,913 shares and the Old Mutual Insure Employee Trust buying 611,087 shares. Both transactions had a high price of R11.94, a low price of R11.70, and a volume-weighted average price of R11.7682 per share.
The final batch of shares was purchased on March 25, with the Broad-Based Black Economic Empowerment Employee Trust and the Old Mutual Insure Employee Trust acquiring 330,517 and 519,353 shares, respectively, at prices between R11.70 and R11.99 and a volume-weighted average price of R11.9157 per share.
The total value of the shares acquired on March 24 and March 25 by both trusts amounted to approximately R11.7 million. Clearance for these transactions was granted in accordance with paragraph 3.66 of the JSE Listings Requirements.
Old Mutual, with a history spanning over 179 years, has a significant presence in sub-Saharan Africa and offers a wide range of financial solutions to its retail and corporate customers. This share purchase activity is part of the company’s efforts to align the interests of its employees with those of its shareholders.
This report is based on a press release statement from Old Mutual Limited.
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