| Mon 10 Sep 2007, 11:30 | | MAF - Mutual & Federal - Results of the capitalisa |
|
MAF
MAF
MAF - Mutual & Federal - Results of the capitalisation award
Mutual & Federal Insurance Company Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/006619/06)
("Mutual & Federal" or "the company")
Share code JSE: MAF & ISIN: ZAE000010823
Share code NSX: MTF
RESULTS OF THE CAPITALISATION AWARD
Mutual & Federal shareholders were advised on Thursday, 2 August 2007 that they
were entitled to elect to receive the capitalisation award in lieu of a cash
dividend alternative of 45 cents per share.
Capitalisation shares would be awarded to those Mutual & Federal shareholders
recorded in the register as such on Friday, 7 September 2007, the record date.
Shareholders were subsequently advised that the rounded number of capitalisation
shares to which shareholders were entitled, in terms of the capitalisation award
was 1.66359 shares for every 100 shares held. No fractions of shares would be
issued.
These ratios were arrived at by dividing 45 cents per share by R27.05, being the
weighted average trading price of the ordinary shares of the company on the JSE
Limited ("JSE") for the 30 days ended Wednesday, 22 August 2007.
Shareholders are now advised that Mutual & Federal shareholders holding 27 198
584 Mutual & Federal shares have elected to receive the capitalisation award,
resulting in the issue of 452 471 new shares and R118 238 645.25 being paid to
shareholders in respect of the cash dividend alternative.
Dividend cheques and share certificates in respect of new shares were posted to
certificated shareholders today, Monday, 10 September 2007. The CSDP or broker
custody accounts of dematerialised shareholders were also credited today,
Monday, 10 September 2007.
Johannesburg
10 September 2007
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 10/09/2007 11:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
