LONDON, Oct.18, 2001 (PRIMEZONE) -- Old Mutual plc (LSE:OML) (the "Company") is today sending a circular to shareholders on its South African branch register who hold their shares in certified form, to explain to them the implications of the Company's prospective admission to STRATE. STRATE, or Share Transactions Totally Electronic, is the paperless settlement system, which is being introduced by the JSE Securities Exchange South Africa ("JSE").
Transactions in the Company's shares on the JSE will be subject to electronic settlement through STRATE from January 21, 2002, and the STRATE rules require that shares be in dematerialized (electronic) form. All trades in the Company's shares entered into on the JSE on or after January 14, 2002 will be affected by the new rules.
For certified shareholders on the South African branch register, the Company is offering an Issuer--Sponsored Nominee Program, in conjunction with Computershare Custodial Services Limited, one of the Central Securities Depository Participants under STRATE, to assist them with the dematerialization process.
Dealings in shares in the Company on the London Stock Exchange or the African exchanges (other than the JSE) where the Company's shares are listed are unaffected by these changes.
The circular is available online at the Company's Website www.oldmutual.com and may also be obtained from Investor Relations, Old Mutual plc, 3rd Floor, Lansdowne House, 57 Berkeley Square, London W1J 6ER.