Old Mutual boosts employee ownership with major share purchases by trusts

Old Mutual ( (ODMUF) ) just unveiled an announcement.

Old Mutual has executed substantial on-market purchases of its ordinary shares through several employee trusts in South Africa and Namibia to hedge exposures arising from its Employee Share Ownership Plan and Long-term Incentive Plan awards. The transactions, which received the necessary regulatory clearance, underscore the group’s ongoing commitment to broad-based black economic empowerment and employee ownership structures across its African operations.

The Old Mutual Limited Broad-Based Black Economic Empowerment Employee Trust and Old Mutual Limited Employee Trust together acquired millions of shares on the JSE, while the Old Mutual Namibia employee trusts completed additional purchases on similar terms. These dealings in securities reinforce alignment between employees and shareholders, potentially supporting staff retention, empowerment objectives and long-term value creation within the group’s core African markets.

More about Old Mutual

Old Mutual is a premium African financial services group offering a broad range of financial solutions to retail and corporate clients across key market segments in 12 countries, with primary operations in Africa and a niche presence in China. With more than 180 years of heritage in sub-Saharan Africa, the group positions itself as an integral part of the communities it serves and the broader African society.

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