Old Mutual Sells Shares to Cover Employee Tax Liabilities

Old Mutual ( (ODMUF) ) has provided an update.

Old Mutual Limited has announced the sale of its ordinary shares through various employee incentive schemes to cover employee income tax liabilities arising from the vesting of share grants. This move, which involves multiple trusts such as the Old Mutual Limited Broad-Based Black Economic Empowerment Employee Trust and the Old Mutual Insure Employee Trust, reflects the company’s compliance with JSE Limited’s listing requirements. The transactions, conducted on-market, are part of Old Mutual’s efforts to manage its employee share ownership plans and long-term incentive plans, potentially impacting its financial operations and stakeholder interests.

More about Old Mutual

Old Mutual is a premium African financial services group that provides a wide range of financial solutions to both retail and corporate customers across 12 countries. With its primary operations in Africa and a niche business in China, Old Mutual has a rich heritage of over 179 years in sub-Saharan Africa, playing a significant role in the communities and broader society it serves.

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