MAF/MTF - Mutual & Federal - Results of the special capitalisation
MAF
MAF
MAF/MTF - Mutual & Federal - Results of the special capitalisation
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")
RESULTS OF THE SPECIAL CAPITALISATION AWARD
Mutual & Federal shareholders were advised on Thursday, 8 November 2007 that
they were entitled to elect to receive the special capitalisation award in lieu
of a special cash dividend alternative of 200 cents per share.
Special capitalisation shares would be awarded to those Mutual & Federal
shareholders recorded in the register as such on Friday, 14 December 2007, the
record date.
Shareholders were subsequently advised that the number of special capitalisation
shares to which shareholders were entitled, in terms of the special
capitalisation award was 7.301085 shares for every 100 shares held. No fractions
of shares would be issued.
These ratios were arrived at by dividing 200 cents per share by R27.39, being
the weighted average trading price of the ordinary shares of the company on the
JSE Limited ("JSE") for the 30 days ended Thursday, 29 November 2007.
Shareholders are now advised that Mutual & Federal shareholders holding 18 469
594 Mutual & Federal shares have elected to receive the special capitalisation
award, resulting in the issue of 1 348 481 new shares and R544 609 212.00 being
paid to shareholders in respect of the special cash dividend alternative.
Dividend cheques and share certificates in respect of new shares were posted to
certificated shareholders today, Tuesday, 18 December 2007. The CSDP or broker
custody accounts of dematerialised shareholders were also credited today.
Johannesburg
18 December 2007
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 18/12/2007 12:22:01 Produced by the JSE SENS Department.
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