First Mutual Holdings Limited (FMHL) has been unable to conduct its Annual General Meeting (AGM) within twelve months of the previous AGM as the external auditors are yet to issue their audit opinion for the year ended 31 December 2021.

The delay arises following the appointment of a forensic investigator by the Insurance and Pensions Commission (IPEC) to conduct an investigation into First Mutual Life Assurance Company (Private) Limited, a subsidiary of FMHL. The auditors will only issue their opinion once that investigation has been concluded. The investigation, which began on 5 September 2022, is expected to take 4 months to complete. Hence it will not be possible to conduct the AGM before the end of 2022.

Shareholders will be advised of the date of the AGM as soon as these processes have been finalised.

BY ORDER OF THE BOARD

S F Lorimer
Group Company Secretary

5 December 2022