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14:17:44
Old Mutual -- M&F sale approved by shareholders
OML
Posted Mon, 23 Nov 2009

Old Mutual announced that the resolutions tabled at the Mutual & Federal Insurance Company Ltd ("M&F") general meeting, and the proposed scheme of arrangement regarding Old Mutual's offer to acquire those M&F shares not already owned by Old Mutual and/or its subsidiaries, were successfully approved, with the requisite majorities, by M&F shareholders and scheme members respectively. Old Mutual continues to progress the proposed acquisition and is working with M&F management on all aspects of the transaction. The closing of the transaction remains subject to the certain conditions precedent, including the requisite regulatory approvals being obtained.