| Fri 22 Aug 2008, 10:52 | | MAF - Mutual & Federal Insurance Company Limited - Capitalisation award with a |
|
MAF
MAF
MAF - Mutual & Federal Insurance Company Limited - Capitalisation award with a
cash dividend alternative to be paid to shareholders not electing to receive
capitalisation award shares
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")
CAPITALISATION AWARD WITH A CASH DIVIDEND ALTERNATIVE TO BE PAID TO SHAREHOLDERS
NOT ELECTING TO RECEIVE CAPITALISATION AWARD SHARES
Shareholders are referred to the announcement released on SENS on Tuesday, 5
August 2008, wherein notice was given that a capitalisation award of new fully
paid ordinary shares will be distributed to shareholders who elected the
capitalisation award, recorded in the register of the Company at the close of
business on Friday, 5 September 2008 and that the last day to trade to be
entitled to participate in the capitalisation award will be Friday, 29 August
2008.
Notice is hereby given that the number of shares to which shareholders will be
entitled will be determined as follows:
* in the ratio that 45 cents per share bears to R15.95 per share, being the
30 day volume weighted average price ("VWAP") at the close of business on
Thursday, 21 August 2008.
This equates to 2.82173 new Mutual & Federal ordinary shares for every 100
shares held. Shareholders wishing to participate in the capitalisation award in
respect of all or part of their shareholding must elect to do so. Shareholders
not electing to receive the capitalisation award will receive a cash dividend of
45 cents per share.
Subject to the approval of the JSE Limited, a listing of the maximum number of
shares to be issued pursuant to the capitalisation award will take place on
Monday, 1 September 2008, on which date the shares will trade "ex" the
entitlement. Shares may not be dematerialised or rematerialised between Monday,
1 September 2008 and Friday, 5 September 2008, both days inclusive. A circular
(including a form of election) dealing with the capitalisation award was posted
to shareholders on Wednesday, 20 August 2008.
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 or about
Monday, 8 September 2008.
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 or
about Monday, 8 September 2008.
A further announcement will be published on SENS and in the press on or about
Monday, 8 September 2008, detailing the results of the capitalisation award and
the cash dividend alternative.
Johannesburg
22 August 2008
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 22/08/2008 10:52:04 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.
