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JOHANNESBURG - In a recent transaction, Old Mutual (LON:OMU) Limited’s employee share trusts engaged in substantial on-market purchases of the company’s ordinary shares as part of a hedging strategy for their Employee Share Ownership Plan and Long-term Incentive Plan awards. These transactions occurred over a series of days last week, with the most significant activity noted on Monday, when 3,966,923 shares were acquired at a price of R11.7700 per share, amounting to a total value of R46,690,683.71.
The Old Mutual Limited Broad-Based Black Economic Empowerment Employee Trust and the Old Mutual Limited Employee Trust collectively purchased shares on the Johannesburg Stock Exchange at varying prices ranging from R11.4361 to R11.9800 per share. The total number of shares acquired across all transactions exceeded 17 million, representing a significant investment by the trusts in the company’s stock.
The purchases were conducted in compliance with the Listings Requirements of JSE Limited, and clearance to deal was obtained in accordance with paragraph 3.66 of the Listings Requirements. These transactions reflect Old Mutual’s ongoing commitment to its employee incentive schemes, which are designed to align the interests of staff with those of shareholders.
Old Mutual Limited is a prominent African financial services group with a history spanning over 179 years. The company operates across key market segments in 12 countries, with primary operations in Africa and a specialized business in China.
The information regarding these transactions is based on a press release statement and provides insight into Old Mutual’s employee incentive strategies and their execution in the marketplace.
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