Old Mutual Ltd. · JSE:OMU
Old Mutual — Shareholder Meeting (May 2011)
44 slides from Old Mutual's shareholder meeting presentation, May 12, 2011
Slide 1: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL
Slide 2: Patrick O'Sullivan, Chairman
Patrick O’Sullivan Chairman
Slide 3: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL
Slide 4: Julian Roberts, Group Chief Executive
Julian Roberts Group Chief Executive
Slide 5: Strong sales delivered in 2010
Strong sales delivered in 2010 £1,491m £10,305m £1,312m 7% £7,567m 28% Note: Percentage movements are in constant currency
Slide 6: Financial overview: Core operations
Financial overview: Core operations1 £1,481m 16.0p 12.2% £1,133m 11.6p 9.1% 14% 20% £309.3bn £275.4bn 6% (£1.8bn) (£3.9bn) (£5.7bn) 1. 2009 AOP, EPS and RoE restated to exclude US Life (treated as non-core, discontinued), 2009 NCCF and FUM restated to exclude Bermuda (treated as non-core) and US Lif
Slide 7: Capital and dividend
Capital and dividend Capital and debt structure 2010 2009 Change Pro forma FGD surplus (£bn) 2.1 1.5 40% Holding company liquidity (£bn) 1.4 1.2 17% Gross debt (IFRS basis) (£m) 2,894 2,8421 2% Dividend – Interim 1.1p - - Dividend – Final 2.9p 1.5p 93% 1. On a constant currency basis, the reported a
Slide 8: 2011 first quarter highlights
2011 first quarter highlights • Long-Term Savings net client cash flow £0.9 billion • 1%1 increase in funds under management to £303 billion • 13%1 increase in life APE sales in Emerging Markets • Group unit trust sales up 20%1 • UK platform gross inflows up 6% to £1.4 billion • Strong performance a
Slide 9: Delivering our strategy
Delivering our strategy • Revitalised the Group under a new vision and strategy • Delivering on our targets Target 2010 Cost reduction £100m £59m ROE (LTS) 16-18% 18.5% Debt repayment £1.5bn On target • Improved risk management and control environment • Strengthened management team • Simplifying our
Slide 10: Key deliverables for 2011 & 2012
Key deliverables for 2011 & 2012 • Continue to streamline the business • Drive growth in Emerging Markets • Broaden distribution and roll-out enhanced product proposition • Focus on improving risk adjusted returns on capital • Continue to explore an IPO for USAM • Deliver cost reduction, ROE and deb
Slide 11: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL
Slide 12: Poll Card
Poll Card Poll Card Old Mutual pie Annual General Meeting 12 May 2011 ‘Name of Shareholder in fall Holding of Shares MOEN. SMITH... ORDINARY RESOLUTIONS FOR AGAINST VOTE WITHHELD x x Resolution 1 Resolution 2 Resolution 3(0) Resolution 34) Resolution 3(iii) Resolution 3(iv) Resolution 309) Resolutio
Slide 13: Resolution 1
Resolution 1 To receive and adopt the report and accounts for the year ended 31 December 2010
Slide 14: Resolution 1 results
Resolution 1 To receive and adopt the report and accounts for the year ended 31 December 2010 For Against Withheld 3,564,115,437 2,411,020 4,251,492 Subject to verification by our scrutineers, Computershare
Slide 15: Resolution 2
Resolution 2 To declare a final dividend of 2.9p per share for the year ended 31 December 2010
Slide 16: Resolution 2 results
Resolution 2 To declare a final dividend of 2.9p per share for the year ended 31 December 2010 For Against Withheld 3,561,094,674 5,486,517 4,203,758 Subject to verification by our scrutineers, Computershare
Slide 17: Resolution 3
Resolution 3 Election and re-election of directors
Slide 18: Resolution 3(i)
Resolution 3(i) To elect Ms E Castillo as a director
Slide 19: Resolution 3(i) results
Resolution 3(i) To elect Ms E Castillo as a director For Against Withheld 3,547,225,524 10,881,042 12,678,383 Subject to verification by our scrutineers, Computershare
Slide 20: Resolution 3(ii)
Resolution 3(ii) To elect Mr A Gillespie as a director
Slide 21: Resolution 3(ii) results
Resolution 3(ii) To elect Mr A Gillespie as a director For Against Withheld 3,546,829,875 11,422,126 12,532,448 Subject to verification by our scrutineers, Computershare
Slide 22: Resolution 3(iii)
Resolution 3(iii) To elect Mr R Marshall as a director
Slide 23: Resolution 3(iii) results
Resolution 3(iii) To elect Mr R Marshall as a director For Against Withheld 3,552,415,804 8,273,793 10,094,852 Subject to verification by our scrutineers, Computershare
Slide 24: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL
Slide 25: Resolution 3(iv)
Resolution 3(iv) To re-elect Mr P O’Sullivan as a director
Slide 26: Resolution 3(iv) results
Resolution 3(iv) To re-elect Mr P O’Sullivan as a director For Against Withheld 3,547,430,329 14,387,483 8,967,137 Subject to verification by our scrutineers, Computershare
Slide 27: Resolution 3(v)
Resolution 3(v) To re-elect Mr R Edey as a director
Slide 28: Resolution 3(v) results
Resolution 3(v) To re-elect Mr R Edey as a director For Against Withheld 3,512,475,469 10,606,600 47,702,880 Subject to verification by our scrutineers, Computershare
Slide 29: Resolution 4
Resolution 4 To re-appoint KPMG Audit Plc as auditors
Slide 30: Resolution 4 results
Resolution 4 To re-appoint KPMG Audit Plc as auditors For Against Withheld 3,544,424,494 10,709,695 15,650,760 Subject to verification by our scrutineers, Computershare
Slide 31: Resolution 5 auditors' remuneration
Resolution 5 To authorise the Group Audit Committee to settle the auditors’ remuneration
Slide 32: Resolution 5 results
Resolution 5 To authorise the Group Audit Committee to settle the auditors’ remuneration For Against Withheld 3,561,082,241 3,102,884 6,599,824 Subject to verification by our scrutineers, Computershare
Slide 33: Resolution 6
Resolution 6 To approve the Remuneration Report
Slide 34: Resolution 6 results
Resolution 6 To approve the Remuneration Report For Against Withheld 3,103,910,989 326,224,102 140,647,858 Subject to verification by our scrutineers, Computershare
Slide 35: Resolution 7
Resolution 7 To grant authority to allot shares
Slide 36: Resolution 7 results
Resolution 7 To grant authority to allot shares For Against Withheld 3,100,123,433 452,386,476 18,275,040 Subject to verification by our scrutineers, Computershare
Slide 37: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL
Slide 38: Resolution 8 – Special Resolution
Resolution 8 – Special Resolution To authorise the directors to disapply pre-emption rights
Slide 39: Resolution 8 results
Resolution 8 – Special Resolution To authorise the directors to disapply pre-emption rights For Against Withheld 3,229,406,003 301,801,274 39,578,390 Subject to verification by our scrutineers, Computershare
Slide 40: Resolution 9 – Special Resolution
Resolution 9 – Special Resolution To grant authority to repurchase shares on the London Stock Exchange
Slide 41: Resolution 9 results
Resolution 9 – Special Resolution To grant authority to repurchase shares on the London Stock Exchange For Against Withheld 3,535,521,593 19,495,282 15,766,074 Subject to verification by our scrutineers, Computershare
Slide 42: Resolution 10 – Special Resolution
Resolution 10 – Special Resolution To approve contingent purchase contracts on the African Stock Exchanges
Slide 43: Resolution 10 results
Resolution 10 – Special Resolution To approve contingent purchase contracts on the African Stock Exchanges For Against Withheld 3,542,828,156 19,419,316 8,537,477 Subject to verification by our scrutineers, Computershare
Slide 44: Annual General Meeting 2011
ANNUAL GENERAL MEETING 2011 Ce §Q OLD MUTUAL