Old Mutual has extended the offer period for Skandia to 16 December 2005 following a show of support by its own shareholders for the deal.
The provider, which has dual listing on both the London and South African stock markets, says strong support has been demonstrated from its own shareholders for the deal after over 90% of the proxy votes received prior to today's extraordinary general meeting showed in favour of each of the four resolutions to be considered at the meeting.
The resolutions will be voted on by a poll at the meeting, and the actual results of shareholder voting will be announced by Old Mutual later today.
Old Mutual says it will also be issuing a supplementary prospectus shortly incorporating the trading statements for the third quarter of 2005 of both companies and confirming the extension of the offer period.
All other terms and conditions of the offer as set out in Old Mutual's Prospectus dated 7 October 2005 and in the offer document for Skandia shareholders dated 12 October 2005 remain unchanged.
Old Mutual has also submitted all applications for regulatory approval of its proposed acquisition of Skandia.
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