Mutual & Federal - Results of the Capitalisation A
MAF
MAF
Mutual & Federal - Results of the Capitalisation Award announcement
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
RESULTS OF THE CAPITALISATION AWARD
Shareholders were advised on Wednesday, 15 February 2006 that shareholders were
entitled to elect to receive the capitalisation share award in lieu of a cash
dividend of 115 cents per share.
Capitalisation shares would be awarded to those Mutual & Federal shareholders
recorded in the register as such on Friday, 17 March 2006, the record date.
Shareholders were subsequently advised that, the rounded number of
capitalisation shares to which shareholders were entitled, in terms of the
capitalisation award, was 3.58255 shares for every 100 shares held. No fractions
of shares would be issued.
This ratio was arrived at by dividing 115 cents per share by R32.10, the
weighted average trading price of the ordinary shares of the company on the JSE
Limited ("JSE") for the 30 days ended Thursday, 02 March 2006.
Shareholders are now advised that Mutual & Federal shareholders holding 28 206
544 Mutual & Federal shares have elected to receive the capitalisation share
award, resulting in the issue of 1 010 514 new shares.
Accordingly R290 901 252.65 was paid in respect of cash dividends.
Dividend cheques and share certificates in respect of new shares were posted to
certificated shareholders today, Monday, 20 March 2006. The CSDP or broker
custody accounts of dematerialised shareholders were also credited today,
Monday, 20 March 2006.
Johannesburg
20 March 2006
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 20/03/2006 02:17:04 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
