Currency Conversions and Scrip Calculation Prices
Ref 32/11
1 April 2011
OLD MUTUAL PLC
Final Dividend for the year ended 31 December 2010 (No. 21)
Currency Conversions and Scrip Calculation Prices
In its preliminary results announcement for the year ended 31 December 2010 published on 8 March 2011, Old Mutual plc (the "Company") announced a recommended final dividend of 2.9p per share or its equivalent in other currencies of payment using exchange rates prevailing on 31 March 2011. The Company also announced that, subject to approval of the dividend at the Company's Annual General Meeting on 12 May 2011, 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 recommended final dividend have now been established and are as follows:
|
South Africa |
31.51 |
South African cents per share |
|
Malawi |
7.02 |
Malawi kwachas per share |
|
Namibia |
31.51 |
Namibian cents per share |
|
Zimbabwe |
4.65 |
US cents per share |
|
Sweden |
0.294 |
Swedish Kronor per share |
The record date for this dividend payment is the close of business on 15 April 2011 for all the Exchanges where the Company's shares are listed. The last day to trade cum-dividend will be 8 April 2011 on the JSE and on the Malawi, Namibian and Zimbabwe Stock Exchanges and 12 April 2011 for the London Stock Exchange. The shares will trade ex-dividend from the opening of business on 11 April 2011 on the JSE and on the Malawi, Namibian and Zimbabwe Stock Exchanges and from the opening of business on 13 April 2011 on the London Stock Exchange.
The Scrip Calculation Prices under the scrip dividend alternative for the recommended final dividend have also now been calculated for shares on each of the Company's respective share registers and are as follows:
|
UK (principal register) |
132.34 |
pence (Sterling) |
|
South Africa |
14.557 |
South African Rand |
|
Malawi |
320.16 |
Malawi kwachas |
|
Namibia |
14.557 |
Namibian dollars |
|
Zimbabwe |
2.124 |
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 R0.3151 / 14.557= 10.82297 new Old Mutual plc shares (which would be rounded up to 11 shares after taking into account the applicable rounding conventions).
The scrip ratio on the South African register is therefore 2.16459 (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 scheme booklet, together with the scrip dividend election forms, which are available on the Company's website at www.oldmutual.com and from the Company's share registrars.
Share certificates may not be dematerialised or rematerialised on the South African branch register between 11 and 15 April 2011, both dates inclusive, and transfers between the registers may not take place during that period.
Enquiries
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External Communications |
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Patrick Bowes |
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+44 (0)20 7002 7440 |
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Investor Relations |
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Deward Serfontein |
SA |
+27 (0)82 810 5672 |
|
Aleida White |
UK |
+44 (0)20 7002 7287 |
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Media |
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William Baldwin-Charles |
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+44 (0)20 7002 7133 |
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 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, at the year end. For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com
This information is provided by RNS
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