MAF - Mutual & Federal - Results of the capitalisation award
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)
Share code JSE: MAF & Share code NSX: MTF & ISIN: ZAE000010823
("Mutual & Federal" or "the company")
RESULTS OF THE CAPITALISATION AWARD
Mutual & Federal shareholders were advised on Wednesday, 7 May 2008 that they
were entitled to elect to receive the capitalisation award in lieu of a cash
dividend alternative of 135 cents per share.
Capitalisation shares would be awarded to those Mutual & Federal shareholders
recorded in the register as such on Friday, 13 June 2008, the record date.
Shareholders were subsequently advised that the number of capitalisation shares
to which shareholders were entitled, in terms of the capitalisation award was
7.370996 shares for every 100 shares held. No fractions of shares would be
issued.
These ratios were arrived at by dividing 135 cents per share by R20.15, 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 May 2008.
Shareholders are now advised that Mutual & Federal shareholders holding 244 295
464 Mutual & Federal shares have elected to receive the capitalisation award,
resulting in the issue of 18 007 009 new shares and R67 531 194.45 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, Tuesday, 17 June 2008. The CSDP or broker
custody accounts of dematerialised shareholders were also credited today.
Johannesburg
17 June 2008
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 17/06/2008 12:00:01 Produced by the JSE SENS Department.
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