| Fri 25 Aug 2006, 10:30 | | Mutual & Federal - Capitalisation award and specia |
|
MAF
MAF
Mutual & Federal - Capitalisation award and special capitalisation award
with cash dividend alternatives
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 AND SPECIAL CAPITALISATION AWARD WITH CASH DIVIDEND
ALTERNATIVES TO BE PAID TO SHAREHOLDERS NOT ELECTING TO RECEIVE
CAPITALISATION AND/OR SPECIAL CAPITALISATION AWARD SHARES
Shareholders are referred to the announcement released on SENS on
Wednesday, 2 August 2006, wherein notice was given that a capitalisation
award and a special capitalisation award (collectively "the capitalisation
awards") of new fully paid ordinary shares will be distributed to
shareholders, who elected the capitalisation award and/or the special
capitalisation award, recorded in the register of the Company at the close
of business on Friday, 8 September 2006 and that the last day to trade to
be entitled to participate in the capitalisation awards will be Friday, 1
September 2006.
Notice is hereby given that the number of shares to which shareholders will
be entitled will be determined as follows:
* in the ratio that 40 cents per share bears to R34.56 per share, being
the 30 day volume weighted average price ("VWAP") at the close of
business on Wednesday, 23 August 2006 for the capitalisation award;
and
* in the ratio that 800 cents per share bears to R34.56 per share, being
the VWAP at the close of business on Wednesday, 23 August 2006 for the
special capitalisation award.
This equates to 1.15741 and 23.14815 new Mutual & Federal ordinary shares,
respectively, for every 100 shares held. Shareholders wishing to
participate in the capitalisation award and/or the special capitalisation
award in respect of all or part of their shareholding must elect to do so.
Shareholders not electing to receive the capitalisation award and/or the
special capitalisation award will receive a cash dividend of 40 cents and
800 cents per share for the capitalisation award and special capitalisation
award respectively.
Subject to the approval of the JSE Limited, a listing of the maximum number
of shares to be issued pursuant to the capitalisation awards will take
place on Monday, 4 September 2006, on which date the shares will trade "ex"
the entitlement. Shares may not be dematerialised or rematerialised
between Monday, 4 September 2006 and Friday, 8 September 2006, both days
inclusive. A circular (including a form of election) dealing with the
capitalisation awards was posted to shareholders on Friday, 18 August 2006.
Shareholders who have dematerialised their shares are required to notify
their duly appointed Central Securities Depository Participant ("CSDP") or
broker of their election in the manner and time stipulated in the custody
agreement governing the relationship between the shareholder and their CSDP
or broker. Certificated shares or cheques will be posted by registered post
to certificated shareholders at their risk on Monday, 11 September 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 CSDP or broker
accounts on Monday, 11 September 2006.
A further announcement will be published on SENS and in the press on or
about Monday, 11 September 2006, detailing the results of the
capitalisation awards and the cash dividend alternative.
Johannesburg
25 August 2006
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 25/08/2006 10:30:03 AM Produced by the JSE SENS Department
