Mutual & Federal - Capitalisation Award with a cas
MAF
MAF
Mutual & Federal - Capitalisation Award with a cash dividend alternative
Mutual & Federal Insurance Company Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/006619/06)
("Mutual & Federal" or "the Company")
Share code JSE: MAF & Share code NSX: MTF
ISIN: ZAE000010823
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 Wednesday, 15
February 2006, wherein notice was given that an award of new fully paid ordinary
shares will be distributed to shareholders recorded in the register of the
Company at the close of business on Friday, 17 March 2006 and that the last day
to trade to be entitled to participate in the capitalisation share award will be
Friday, 10 March 2006. Notice is hereby given, that the number of shares to
which shareholders will be entitled will be determined in the ratio that 115
cents per share bears to R32.10 per share being the 30 day volume weighted
average price as at the close of business on Thursday, 02 March 2006.
This equates to 3.58255 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
115 cents per share. Subject to the approval of the JSE Limited, a listing of
the maximum number of new shares to be issued pursuant to the capitalisation
award will commence on Monday, 13 March 2006. The shares will trade "ex" the
entitlement with effect from the commencement of business on Monday, 13 March
2006.
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 accounts at their CSDP or
broker on Monday, 20 March 2006.
Certificated shareholders will have their share certificates or cheques posted
at the risk of such shareholders on Monday, 20 March 2006.
Johannesburg
03 March 2006
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 03/03/2006 02:26:13 PM Produced by the JSE SENS Department
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