MAF - Mutual & Federal - Results of Annual General Meeting Changes to the Board
MAF
MAF
MAF - Mutual & Federal - Results of Annual General Meeting, Changes to the Board
of Directors and Update
MUTUAL & FEDERAL INSURANCE COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1970/006619/06)
JSE share code: MAF & NSX share code: MTF
ISIN: ZAE000010823
("Mutual & Federal")
Results of annual general meeting, changes to the board of directors and update
1. Results of annual general meeting
Shareholders are advised that, at the annual general meeting of Mutual & Federal
held in Johannesburg today, all the resolutions were passed by the requisite
majority of shareholders present and represented by proxy at the annual general
meeting.
2. Changes to the board of directors
In addition, shareholders are informed that Mr C J W Ball, a non-executive
director of Mutual & Federal, did not offer himself for re-election at the
annual general meeting and has retired with immediate effect.
3. Update
At the meeting, managing director Keith Kennedy noted that trading conditions
within the short-term industry had been very challenging in the first quarter of
2009. There had been an unusually large number of large commercial and
industrial fires and the widespread rains had resulted in damage to property.
Whilst the vehicle accident rate had remained high and repair costs had
increased, the company had benefitted from preferential procurement
arrangements.
He added that dividends and the values of listed equities had not grown during
the quarter but the company had benefitted from an improved level of interest
income.
Mutual & Federal plans to release a formal operational update regarding results
for the first quarter, on 7 May.
Johannesburg
29 April 2009
Sponsor
Nedbank Capital
Date: 29/04/2009 16:38:02 Produced by the JSE SENS Department.
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