MAF - Mutual & Federal Insurance Company - Results of the capitalisation award
MAF
MAF
MAF - Mutual & Federal Insurance Company - 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 Tuesday, 5 August 2008 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, 5 September 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
2.82173 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 R15.95, being the
volume weighted average price of the ordinary shares of the company on the JSE
Limited ("JSE") for the 30 days ended Thursday, 21 August 2008.
Shareholders are now advised that Mutual & Federal shareholders holding 159 849
609 Mutual & Federal shares have elected to receive the capitalisation award,
resulting in the issue of 4 510 524 new shares and R68 776 051.95 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, 8 September 2008. The CSDP or broker
custody accounts of dematerialised shareholders were also credited today.
Johannesburg
8 September 2008
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 09/09/2008 08:19:01 Produced by the JSE SENS Department.
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