Currency Conversion

RNS Number : 0323H

Old Mutual PLC

30 October 2008

 



Ref: 151/08 

30 October 2008

Interim Dividend for the six months ended 30 June 2008 (No. 18)

Currency Conversion for shares on the Zimbabwe branch register

In its interim results announcement of results for the six months ended 30 June 2008 published on 6 August 2008, Old Mutual plc (the 'Company') announced an interim dividend of 2.45p per share or its equivalent in other currencies of payment to be paid on Friday, 28 November 2008. 

The local currency equivalents of the dividend for South Africa, Malawi, Namibia and Sweden were confirmed by the Company on 17 October 2008 (Release reference 149/08) and the Company indicated in that announcement that it planned to announce the Zimbabwe currency equivalent today.

The economic environment and prevailing hyperinflation in Zimbabwe continue to pose problems for the Company to fix an appropriate conversion rate for shareholders on the Zimbabwe branch register at this juncture.  The Company therefore believes that it is in the interests of shareholders on the Zimbabwe register for the conversion rate to be determined closer to the due date for payment of the dividend. With the agreement of the Zimbabwe Stock Exchange, the rate will now be fixed on 13 November 2008 and announced to the market on 14 November 2008.

The record date for this dividend payment in Zimbabwe remains the close of business on Friday, 7 November 2008 and the last day to trade cum-dividend on the Zimbabwe Stock Exchange Friday, 31 October 2008. The shares will trade ex-dividend on the Zimbabwe Stock Exchange from the opening of business on Monday, 3 November 2008. 

Enquiries

Investor Relations
Aleida White	UK	[phone]
Deward Serfontein	SA	[phone]
Media
Matthew Gregorowski	UK / SA	[phone]
Brian Cattell (Finsbury)	UK	[phone]

Notes to Editors

Old Mutual

Old Mutual plc is an international savings and wealth management company based in the UK. Originating in South Africa in 1845, the group has a portfolio of businesses offering asset management, life assurance, banking and general insurance services in over 40 countries in Europe, the Americas, Africa and Asia-Pacific. Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.

In the year ended 31 December 2007, the group reported adjusted operating profit of £1.62 billion (on an IFRS basis) and had £279 billion of funds under management at the year end. The Company has approximately 53,000 employees.

 

END

 

 

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