| Fri 9 Mar 2012, 9:03 | | OML - Old Mutual Plc - Final Dividend for the year ended 31 December 2011 |
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OML
OLOML
OML - Old Mutual Plc - Final Dividend for the year ended 31 December 2011
(No. 23) and special dividend timetable
OLD MUTUAL PLC
ISIN: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Old Mutual plc (the "Company")
Ref 17//12
9 March 2012
Final Dividend for the year ended 31 December 2011 (No. 23) and Special Dividend
Timetable
The Directors of Old Mutual plc (the "Company") are recommending a final
dividend for the year ended 31 December 2011 of 3.5p per existing ordinary share
of 10 pence (an "Ordinary Share"), which will be paid, subject to being approved
by shareholders at the Company`s 2012 Annual General Meeting, on 7 June 2012
(the "Final Dividend"). The Final Dividend would equate to 4.0p per new
ordinary share of 113/7 pence (a "New Ordinary Share") if the proposed 7 for 8
share consolidation (the "Share Consolidation") is approved by shareholders at
the Company`s General Meeting on 14 March 2012. The Share Consolidation was
announced by the Company on 3 February 2012 and is also conditional on approval
by shareholders of the sale of our Nordic business (the "Disposal"), the
Disposal being completed and the related Special Dividend (defined below) being
declared.
The Company is also announcing the timetable for the payment of the special
dividend of 18p per Ordinary Share (the "Special Dividend"), which was announced
on 3 February 2012. The Special Dividend will also be paid on 7 June 2012,
subject to approval by shareholders of the Disposal and the Share Consolidation
at the General Meeting and the Disposal being completed.
Shareholders on the South African, Zimbabwe and Malawi branch registers and the
Namibian section of the principal register will be paid the local currency cash
equivalents of the Final Dividend and the Special Dividend under dividend access
trust or similar arrangements established in each country. Shareholders who hold
their shares through Euroclear Sweden AB, the Swedish nominee, will be paid the
cash equivalent of both dividends in Swedish Kronor. Local currency cash
equivalents of the dividends for all five territories will be determined by the
Company using exchange rates prevailing at the close of business on 3 April 2012
and will be announced by the Company on 4 April 2012.
Share certificates for shareholders on the South African register may not be
dematerialised or rematerialised between 4 April 2012 and 20 April 2012, both
dates inclusive, and transfers between the registers may not take place during
that period.
A scrip dividend alternative is not being made available in relation to the
Final Dividend, in view of the complexities involved in the Share Consolidation,
or in relation to the Special Dividend. The Directors of the Company will
consider later in 2012 whether to reinstate a scrip dividend alternative for the
interim dividend for the current year.
The full timetable for the Final Dividend and Special Dividend is set out below.
The timing for completion of the Disposal is dependent upon satisfaction of
regulatory conditions. If there is any delay in obtaining such clearances, the
expected completion date may change and the timing of payment of the Special
Dividend will need to be changed to reflect this.
General Meeting relating to the Disposal, 14 March 2012
related Special Dividend and Share
Consolidation
Anticipated completion date for the 21 March 2012
Disposal and, subject to the Disposal
being completed, the date the Special
Dividend becomes unconditional
Currency conversion date 3 April 2012
Exchange rates announced 4 April 2012
Trading suspended between registers Opening of business on
4 April 2012
Last day to trade existing Ordinary Shares 13 April 2012
cum dividend (for the Special Dividend and
the Final Dividend) for Ordinary
Shareholders on the branch registers in
South Africa, Malawi and Zimbabwe and on
the Namibian section of the principal
register. No further dealings in existing
Ordinary Shares on these registers
Admission of New Ordinary Shares to the Opening of business on
branch registers in South Africa, Malawi 16 April 2012
and Zimbabwe and on the Namibian section
of the principal register, and
commencement of dealings in such New
Ordinary Shares ex-Special Dividend and
Final Dividend (in each case, on a to be
issued basis)
Last day to trade cum dividend for the 17 April 2012
Final Dividend for Ordinary Shareholders
on the UK Register
Ex-dividend date for the Final Dividend 18 April 2012
for Ordinary Shareholders on the UK
Register
Last day to trade cum dividend for the 20 April 2012
Special Dividend and pre-consolidation for
Ordinary Shareholders on the UK Register
Record Date for entitlement of holders of Close of business on
existing Ordinary Shares to Final 20 April 2012
Dividend, Special Dividend and Share
Consolidation (all Registers). No further
dealings in existing Ordinary Shares on
the UK Register
Consolidation is effected The period commencing
immediately after close of
business on 20 April 2012
and ending on opening of
business on 23 April 2012
New Ordinary Shares admitted to the Opening of business on
Official List and the LSE and commencement 23 April 2012
of dealings in New Ordinary Shares, ex-
dividend for the Special Dividend
New Ordinary Shares enabled in CREST and 23 April 2012
CREST accounts credited with New Ordinary
Shares
New Ordinary Shares credited to the 23 April 2012
accounts of dematerialised South African
shareholders at their CSDP or broker and
other African exchanges
Trading between registers recommences Opening of business on
23 April 2012
Annual General Meeting 10 May 2012
Payment of Special Dividend and Final 7 June 2012
Dividend
Enquiries
Investors/Analysts
Patrick Bowes +44 (0)20 7002 7440
Kelly de Kock +27 (0)21 509 8709
Media
William Baldwin-Charles +44 (0)20 7002 7133
Sponsor:
Merrill Lynch SA (Pty) Limited
Notes to Editors
Old Mutual
Old Mutual is an international long-term savings, protection and investment
Group. Originating in South Africa in 1845, the Group provides life assurance,
asset management, banking and general insurance to more than 15 million
customers in Europe, the Americas, Africa and Asia. Old Mutual is listed on the
London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2011, the Group reported adjusted operating profit
before tax of GBP1.5 billion (on an IFRS basis) and had GBP267 billion of funds
under management from core operations.
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
Date: 09/03/2012 09:03:01 Produced by the JSE SENS Department.
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