Interim Dividend - Currency Conversion

RNS Number : 2912P

Old Mutual PLC

30 September 2011

 



Ref 142/11

30 September 2011

OLD MUTUAL PLC

Interim Dividend for the six months ended 30 June 2011 (No. 22)

Currency Conversions and Scrip Calculation Prices

In its interim results announcement for the six months ended 30 June 2011 published on 5 August 2011, Old Mutual plc (the "Company") announced an interim dividend of 1.5p per share or its equivalent in other currencies of payment using exchange rates prevailing on 29 September 2011. The Company also announced that shareholders on the South African, Zimbabwe and Malawi branch registers and the Namibian section of the principal register would be paid the local currency cash equivalents of the dividend under dividend access trust arrangements established in each country and those shareholders who held their shares through Euroclear Sweden AB, the Swedish nominee, would be paid the equivalent of the dividend in Swedish Kronor.  In the case of Zimbabwe, the local currency equivalent would be denominated in US dollars.

The currency equivalents of the interim dividend have now been established and are as follows:

South Africa	18.67	South African cents per share
Malawi	3.86	Malawi kwachas per share
Namibia	18.67	Namibian cents per share
Zimbabwe	2.35	US cents per share
Sweden	0.16	Swedish Kronor per share

The record date for this dividend payment is the close of business on 14 October 2011 for all the Exchanges where the Company's shares are listed. The last day to trade cum-dividend will be 5 October 2011 on the Malawi Stock Exchange, 7 October 2011 on the JSE and on the Namibian and Zimbabwe Stock Exchanges and 11 October 2011 for the London Stock Exchange.  The shares will trade ex-dividend from the opening of business on 6 October 2011 on the Malawi Stock Exchange, from the opening of business on 10 October 2011 on the JSE and on the Namibian and Zimbabwe Stock Exchanges and from the opening of business on 12 October 2011 on the London Stock Exchange.

The Scrip Calculation Prices under the scrip dividend alternative for the interim dividend have also now been calculated for shares on each of the Company's respective share registers and are as follows:

UK (principal register)	106.72	pence (Sterling)
South Africa	13.193	South African Rand
Malawi	274.96	Malawi kwachas
Namibia	13.193	Namibian dollars
Zimbabwe	1.668	US dollars

By way of illustration of the above, someone who holds 500 shares on the South African branch register and who elects to receive the scrip dividend alternative would be entitled to 500 x R0.1867 / 13.193= 7.07572 new Old Mutual plc shares (which would be rounded down to 7 shares after taking into account the applicable rounding conventions).

The scrip ratio on the South African register is therefore 1.41514 (to 5 decimal places) new Old Mutual plc ordinary shares for every 100 Old Mutual plc shares held as at the record date.

Further details of the scrip dividend alternative are contained in the scrip dividend scheme booklet, together with the related mandate forms, which are available on the Company's website at www.oldmutual.com and from the Company's share registrars.  The deadlines for elections to be received, in order to be valid for this interim dividend, are 12 noon on 14 October 2011 for shareholders on the branch registers in South Africa, Malawi and Zimbabwe and on the Namibian section of the principal register and 12 noon on 1 November 2011 for shareholders on the UK register.

Share certificates may not be dematerialised or rematerialised on the South African branch register between 10 October and 14 October 2011, both dates inclusive, and transfers between the registers may not take place during that period.

Enquiries

External Communications
Patrick Bowes		[phone]
Media
William Baldwin-Charles		[phone]

Notes to Editors

Old Mutual

Old Mutual plc 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 plc is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others.

In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £309 billion of funds under management, from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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