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Old Mutual faces demutualisation in South Africa

South African-owned Old Mutual is urging its members to accept a demutualisation proposal.


It says that if the company demutualises, its 3.2m members will be allocated a minimum of 200 shares in the group holding company. It also promises more shares according to the value of their policy and estimates that 90 per cent of its members will qualify to receive 300 shares or more.


The demutualisation proposal has to be accepted by 75 per cent of the members and approved by the High Court of South Africa.

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