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JOHANNESBURG - Old Mutual (LON:OMU) Limited, the South Africa-based financial services group, has conducted a series of on-market transactions involving the purchase and sale of its ordinary shares as part of hedging activities for its employee incentive schemes. The dealings, which took place on Monday and Tuesday, were in compliance with the JSE Limited Listings Requirements.
The trades were carried out by four different trusts associated with Old Mutual, aimed at facilitating the company’s Employee Share Ownership Plan and Long-term Incentive Plan awards. The Old Mutual Namibia Employee Broad-Base Empowerment Trust and Old Mutual Namibia Employee Trust engaged in the purchase of shares, while the Old Mutual Limited Broad-Based Black Economic Empowerment Employee Trust and Old Mutual Limited Employee Trust sold shares.
On Monday, the Old Mutual Namibia Employee Broad-Base Empowerment Trust acquired 587,857 shares at a volume-weighted average price of R11.0861 per share, totaling R6,940,298.53. The Old Mutual Namibia Employee Trust bought 526,479 shares at an average of R11.8061 per share, amounting to R6,215,663.72.
The following day, the Old Mutual Limited Broad-Based Black Economic Empowerment Employee Trust sold 207,910 shares at an average price of R11.8786, with the transaction valued at R2,469,679.73. Additionally, the Old Mutual Limited Employee Trust disposed of 146,500 shares at the same average price, totaling R1,740,214.90.
All transactions were executed at prices ranging from R11.70 to R11.94 per share. The necessary clearance to deal was obtained in accordance with paragraph 3.66 of the Listings Requirements.
Old Mutual is a significant player in the African financial services market, with operations spanning 12 countries and a history extending over 179 years. The company’s financial solutions cater to a wide range of retail and corporate customers.
This news is based on a press release statement disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG).
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