Dividend Conversion

RNS Number : 7175T

Old Mutual PLC

01 October 2010

 



Ref 156/10

1 October 2010

Interim Dividend for the six months ended 30 June 2010 (No. 20)

Currency Conversions and Scrip Calculation Prices

In its interim results announcement for the six months ended 30 June 2010 published on 6 August 2010, Old Mutual plc (the "Company") announced an interim dividend of 1.1p per share or its equivalent in other currencies of payment using exchange rates prevailing on 30 September 2010. 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 (SEK).  In the case of Zimbabwe, the local currency equivalent would be denominated in US dollars as one of the currencies now in use in that country.

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

South Africa	12.08	South African cents per share
Malawi	2.61	Malawi kwachas per share
Namibia	12.08	Namibian cents per share
Zimbabwe	1.73	US cents per share
Sweden	0.117	Swedish kronor per share

The record date for this dividend payment is the close of business on 15 October 2010 for all the Exchanges where the Company's shares are listed. The last day to trade cum-dividend will be 8 October 2010 on the JSE and on the Malawi, Namibian and Zimbabwe Stock Exchanges and 12 October 2010 for the London Stock Exchange.  The shares will trade ex-dividend from the opening of business on 11 October 2010 on the JSE and on the Malawi, Namibian and Zimbabwe Stock Exchanges and from the opening of business on 13 October 2010 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)	138.22	Pence (Sterling)
South Africa	15.265	South African Rand
Malawi	328.27	Malawi kwachas
Namibia	15.265	Namibian dollars
Zimbabwe	2.174	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 R0.1208 / 15.265 = 3.9568 new Old Mutual plc shares (which would be rounded up to 4 shares after taking into account the applicable rounding conventions).

The scrip ratio on the South African register is therefore 0.79135 (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 booklet that was sent to the Company's shareholders in September 2010.  The booklet and a scrip dividend election form are also available on the Company's website at www.oldmutual.com 

Share certificates may not be dematerialised or rematerialised on the South African branch register between 11 October and 15 October 2010, both dates inclusive, and transfers between the registers may not take place during that period.

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

Enquiries

Investor Relations
Patrick Bowes	UK	[phone]
Deward Serfontein	SA	[phone]
Media
Don Hunter (Finsbury)	UK	[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 in Europe, the Americas, Africa and Asia.  Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.

In the year ended 31 December 2009, the Group reported adjusted operating profit before tax of £1.2 billion (on an IFRS basis) and had £285 billion of funds under management at the year end.  The Group has approximately 54,000 employees.

 

END

 

 

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