Johannesburg – A South African based investment management company, Allan Gray has increased its shareholding threshold in diversified financial services conglomerate Old Mutual Limited (OML) to 10 percent.

A notice to shareholders released by Old Mutual showed the latest details arrived at upon completion of the transaction conducted in accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (“the Act”) and section 3.83(b) of the Johannesburg Stock Exchange Limited listings requirements.

“Shareholders are advised that Old Mutual has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the company.”