| Fri 30 Nov 2007, 10:38 | | MAF - Mutual & Federal - Special Capitalisation Aw |
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MAF
MAF
MAF - Mutual & Federal - Special Capitalisation Award With A Special Cash
Dividend
Mutual & Federal Insurance Company Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/006619/06)
Share code JSE: MAF Share code NSX: MTF
ISIN: ZAE000010823
("Mutual & Federal" or "the Company")
SPECIAL CAPITALISATION AWARD WITH A SPECIAL CASH DIVIDEND ALTERNATIVE TO BE PAID
TO SHAREHOLDERS NOT ELECTING TO RECEIVE SPECIAL CAPITALISATION AWARD SHARES
Shareholders are referred to the announcement released on SENS on Thursday, 8
November 2007, wherein notice was given that a special capitalisation award of
new fully paid ordinary shares will be distributed to shareholders who elected
the special capitalisation award, recorded in the register of the Company at the
close of business on Friday, 14 December 2007 and that the last day to trade to
be entitled to participate in the special capitalisation award will be Friday, 7
December 2007.
Notice is hereby given that the number of shares to which shareholders will be
entitled will be determined as follows:
* in the ratio that 200 cents per share bears to R27.39 per share, being the
30 day volume weighted average price ("VWAP") at the close of business on
Thursday, 29 November 2007.
This equates to 7.301085 new Mutual & Federal ordinary shares for every 100
shares held. Shareholders wishing to participate in the special capitalisation
award in respect of all or part of their shareholding must elect to do so.
Shareholders not electing to receive the special capitalisation award will
receive a special cash dividend of 200 cents per share for the special
capitalisation award.
Subject to the approval of the JSE Limited, a listing of the maximum number of
shares to be issued pursuant to the special capitalisation award will take place
on Monday, 10 December 2007, on which date the shares will trade "ex" the
entitlement. Shares may not be dematerialised or rematerialised between Monday,
10 December 2007 and Friday, 14 December 2007, both days inclusive. A circular
(including a form of election) dealing with the special capitalisation award was
posted to shareholders on Friday, 23 November 2007.
Shareholders who have dematerialised their shares are required to notify their
duly appointed CSDP or broker of their election in the manner and time
stipulated in the custody agreement governing the relationship between the
shareholder and their CSDP or broker. Certificated shares or cheques will be
posted by registered post to certificated shareholders at their risk on Tuesday,
18 December 2007.
In respect of dematerialised shareholders, safe custody accounts with the CSDP
or broker will be updated with the entitlement in respect of the new ordinary
shares and /or payments will be credited to their CSDP or broker accounts on
Tuesday, 18 December 2007.
A further announcement will be published on SENS and in the press on or about
Tuesday, 18 December 2007, detailing the results of the special capitalisation
award and the special cash dividend alternative.
Johannesburg
30 November 2007
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 30/11/2007 10:38:10 Produced by the JSE SENS Department.
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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,
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