Old Mutual - Share buy-back programme

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Slaughter and May advised Old Mutual plc on the creation of the necessary distributable reserves at the holding company level, the procedural aspects involved and the stamp duty implications of its share buy-back programme, particularly with regard to the repurchase of shares on an overseas branch register. The programme involved purchasing shares on both the London Stock Exchange and the Johannesburg Stock Exchange (where Old Mutual has a secondary listing).

Glen James (partner), Craig Cleaver (partner)