Old Mutual interest in Skandia now exceeds 90%

Old Mutual has received acceptances of its offer for Skandia in respect of 1,011,339,683 shares, up ...

Old Mutual has received acceptances of its offer for Skandia in respect of 1,011,339,683 shares, up to the close on 14 March 2006, representing 98.59% of the total number of shares. Other acceptances are in the process of calculation and validation, and Old Mutual has said they will make a further announcement on 22 March 2006. Settlement of valid acceptances received during the final extension of the offer period is expected to take place by 24 March 2006. Now that Old Mutual’s interest in the issued share capital of Skandia exceeds 90%, it intends to initiate a compulsory purchase proce...