MAF - Mutual & Federal - Results of the Capitalisa
MAF
MAF
MAF - Mutual & Federal - Results of the Capitalisation Award
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
Mutual & Federal shareholders were advised on Thursday, 8 February 2007 that
they were entitled to elect to receive the capitalisation award in lieu of a
cash dividend alternative of 135 cents per share.
Capitalisation shares would be awarded to those Mutual & Federal
shareholders recorded in the register as such on Friday, 9 March 2007, 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 4.70547 shares for every 100 shares held. No
fractions of shares would be issued.
These ratios were arrived at by dividing 135 cents per share by R28.69,
being the weighted average trading price of the ordinary shares of the
company on the JSE Limited ("JSE") for the 30 days ended Thursday, 22
February 2007.
Shareholders are now advised that Mutual & Federal shareholders holding 17
211 340 Mutual & Federal shares have elected to receive the capitalisation
award, resulting in the issue of 809 873 new shares and R366 809 466.60
being paid to shareholders in respect of the cash dividend alternative.
Dividend cheques and share certificates in respect of new shares were posted
to certificated shareholders today, Monday, 12 March 2007. The CSDP or
broker custody accounts of dematerialised shareholders were also credited
today, Monday, 12 March 2007.
Johannesburg
12 March 2007
Investment bank, corporate advisor and sponsor in South Africa
Nedbank Capital
Sponsoring broker in Namibia
Old Mutual Investment Services (Namibia)
Date: 12/03/2007 16:02:54 Produced by the JSE SENS Department.
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