NAIROBI, Kenya, July 6 – Old Mutual Holdings PLC shareholders have approved a Sh4.67 billion balance sheet restructuring aimed at reducing accumulated losses and restoring the insurer’s ability to resume dividend payments.
The approval was granted through a special resolution during the company’s 18th Annual General Meeting held on June 30.
The restructuring will see Sh4.67 billion transferred from the company’s share premium account to offset part of its accumulated retained losses, which stood at Sh7.06 billion as of December 31, 2025.
Old Mutual Group Chief Executive Officer Arthur Oginga said the move strengthens the company’s financial position and provides greater flexibility for future shareholder returns.
He said the restructuring forms part of a balance sheet optimisation strategy approved by the board in 2023 following the company’s return to profitability over the past two years.
According to the company, rebuilding distributable reserves through the restructuring will accelerate its path towards resuming dividend payments, subject to continued financial performance.
Old Mutual said the exercise is non-cash and will not affect shareholders’ ownership, the number of shares in issue, the company’s liquidity, cash flows or day-to-day operations.
Following shareholder approval, the proposal will now be presented to the High Court for confirmation before it takes effect.
