Old Mutual fullföljer budet på Skandia

Old Mutual plc (‘Old Mutual’) har glädjen att meddela att bolaget fullföljer budet på Försäkringsaktiebolaget Skandia (publ) (‘Skandia’) och förklarar det ovillkorat. Det enda utestående villkoret för erbjudandet, tillståndet från den polska tillsynsmyndigheten (Komisja Nadzoru Ubezpieczen i Funduszy Emerytalnych), frånfalles. Avsaknaden av ett sådant godkännande skulle endast orsaka obetydliga effekter för den sammanslagna koncernens finansiella resultat. Som en följd av att erbjudandet förklarats ovillkorat är det inte längre möjligt för aktieägarna i Skandia att återkalla de aktier som lämnats in i erbjudandet. Acceptanser avseende erbjudandet, mottagna per den 23 januari 2006, har nu bekräftats för 745.238.795 aktier i Skandia, motsvarande cirka 72,3 procent av det totala antalet aktier och röster i Skandia (efter full utspädning). Aktieägare i Skandia, som redan har accepterat erbjudandet och som önskar erhålla sina nya Old Mutual-aktier genom det brittiska clearingsystemet, CREST, istället för via VPC i Sverige, bör om det inte redan är gjort, snarast kontakta Handelsbanken eller sina respektive förvaltare, för att erhålla och lämna in det nödvändiga formuläret senast före kontorstidens slut fredagen den 27 januari 2006. Redovisning av vederlaget för de acceptanser som erhållits senast klockan 15.00 (svensk tid) den 26 januari 2006 förväntas ske den 1 februari 2006 för aktier som hanteras via CREST och den 2 februari 2006 för aktier som hanteras via VPC. Handel med nyemitterade Old Mutual-aktier på London Stock Exchange beräknas inledas den 1 februari 2006 medan handel med Old Mutual-aktier på OMX Stockholmsbörsen förväntas påbörjas den 2 februari 2006. Erbjudandet förlängs slutligen till den 9 februari 2006 för de aktieägare som ännu inte accepterat erbjudandet. Redovisning av vederlaget avseende anmälningar erhållna under den förlängda, slutliga erbjudandeperioden förväntas ske den 17 februari 2006. Information om synergieffekter finns i en bilaga till detta meddelande. Enligt de svenska takeover-reglerna informerar Old Mutual om att bolaget sedan tidigare förbehållit sig rätten att förvärva ytterligare Skandia-aktier på marknaden på basis av informationen som ges i slutet av detta meddelande. Ytterligare offentliggörande kommer att göras den 27 januari 2006 om slutlig acceptnivå avseende acceptanser för vilka redovisning av vederlag ska ske den 1 februari 2006 samt om det slutliga resultatet för matchningsmöjligheten. 26 januari 2006 FRÅGOR: Old Mutual plc Malcolm Bell – investerare +44 20 7002 7166 Miranda Bellord – media +44 20 7002 7133 Deward Serfontein – investerare, Sydafrika +27 11 523 9616 Nad Pillay – media, Sydafrika +27 11 523 9612 Brunswick Anders Fogel – media, Sverige 0709-62 78 42 Information om Old Mutual plc finns på www.oldmutual.se och www.oldmutual.com Bilaga Synergifördelar Till följd av OMX Stockholmsbörsens begäran om ytterligare information och med hänvisning till Old Mutuals brittiska och svenska prospekt samt pressreleasen från den 21 december 2005, bekräftar Old Mutuals styrelse att den tror att större delen av de synergifördelar som kommunicerats till marknaden kommer att uppnås vid nuvarande acceptansnivå. Old Mutual kommer att tillhandahålla en uppdatering av de faktiska synergier som har uppnåtts i sina kommande årsredovisningar och finansiella rapporter i enlighet med de brittiska börsreglerna. Deutsche Bank, which is authorised by Bundesanstalt für Finanzdiensleistungsaufsicht (BaFin) and by the Financial Services Authority and is regulated by the Financial Services Authority for the conduct of UK business, is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. Merrill Lynch International is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. Lazard & Co., Limited is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. The Offer, all acceptances and withdrawals thereof or pursuant thereto and all contracts made pursuant thereto and action taken or made or deemed to be taken or made under any of the foregoing shall be governed by and construed in accordance with Swedish law. The Offer is, subject to certain exceptions, not being made, directly or indirectly, in or into the United States, Canada, Australia, Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of the United States, Canada, Australia or Japan. Accordingly, copies of this announcement or any accompanying documents are not being, directly or indirectly, mailed or otherwise distributed, forwarded or transmitted in, into or from the United States. Any persons receiving such documents (including, without limitation, custodians, nominees and trustees) should observe these restrictions and should not, subject to certain exceptions, mail or otherwise distribute, forward or transmit them in, into or from the United States or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or use such means, instrumentality or facility in connection with the Offer, and so doing may render invalid any related purported acceptance of the Offer. Any persons (including, without limitation, custodians, nominees and trustees) who would or otherwise intend to, or may have a contractual or other legal obligation to, forward this announcement or any accompanying documents to the United States should seek appropriate advice before taking any action. These materials are not for distribution, directly or indirectly, in or into the United States. They are not an offer of securities for sale into the United States. There will be no public offer of the Old Mutual Shares in the United States. The New Old Mutual Shares have not been, and will not be, registered under the US Securities Act of 1933 (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Canada, Australia and Japan. Accordingly, subject to certain exceptions, the New Old Mutual Shares may not be offered or sold within the United States or Canada, Australia and Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or to or for the account or benefit of any person in the United States, Canada, Australia or Japan. This announcement includes forward-looking statements about Old Mutual, Skandia and the Enlarged Group. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Old Mutual cautions you that forward-looking statements are not guarantees of future performance and the Old Mutual Group's actual results of operations, financial condition and liquidity, and the development of the industry in which the Old Mutual Group operates may differ materially from those made in or suggested by the forward-looking statements contained in this document. Events that may cause actual results to differ from such forward-looking statements include, but are not limited to: fluctuations in the capital markets; fluctuations in interest rate and exchange rates; increased regulation or regulatory scrutiny; the occurrence of unforeseen disasters or catastrophes; political or economic instability in their principal markets; adverse outcomes in litigation; and failure to achieve the benefits of the proposed Transaction. These forward-looking statements speak only as at the date of this announcement. Except as required by the UK Listing Authority, the London Stock Exchange or applicable law, Old Mutual does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Except as required by the UK Listing Authority, the London Stock Exchange or applicable law, Old Mutual expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Old Mutual’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. In addition, even if the Old Mutual Group's results of operations, financial condition and liquidity, and the development of the industry in which the Old Mutual Group operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. To the extent permissible under applicable law or regulation, and in accordance with normal Swedish market practice, Old Mutual or its brokers (acting as agents) may from time to time make certain purchases of, or arrangements to purchase, directly or indirectly, Skandia Shares or any securities that are immediately convertible into, exchangeable for, or exercisable for, Skandia Shares, other than pursuant to the Offer, before, during or after the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be disclosed as required by law or regulation in Sweden or other relevant jurisdictions.