Final Dividend 2013: Currency Conversions

RNS Number : 6526E

Old Mutual PLC

11 April 2014

 



Old Mutual plc

Ref 34/14

11 April 2014

OLD MUTUAL PLC

Final Dividend for the year ended 31 December 2013 (No. 27): Currency Conversions

In its preliminary results announcement for the year ended 31 December 2013 published on 28 February 2014, Old Mutual plc (the "Company") announced a recommended final dividend of 6.0p per share (the "Final Dividend") or its equivalent in other currencies of payment using exchange rates prevailing on 10 April 2014.  The Company also announced that, subject to approval of the dividend at the Company's Annual General Meeting on 15 May 2014 (the "AGM"), 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 (or, in South Africa, dividend access company) arrangements established in each country and those shareholders who hold their shares through Euroclear Sweden AB, the Swedish central securities depository, 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 remainder of this announcement assumes that the Final Dividend will be duly approved by shareholders at the AGM.

The currency equivalents of the Final Dividend have now been established and are as follows:

South Africa	104.86920	South African cents per share
Malawi	40.07	Malawi kwacha per share
Namibia	104.86920	Namibian cents per share
Zimbabwe	10.07	US cents per share
Sweden	0.66	Swedish kronor per share

These currency equivalents have been calculated using the following exchange rates:

South Africa	17.4782	Rand/£
Malawi	667.8349	Malawi kwacha/£
Namibia	17.4782	Namibian dollars/£
Zimbabwe	1.6782	US dollars/£
Sweden	10.9546	Swedish kronor/£

Dividend Tax will be withheld from the amount of the gross dividend of 104.86920 South African cents per share paid to South African shareholders at the rate of 15% unless a shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be 89.13882 South African cents per share.  The Company had a total of 4,897,419,072 shares in issue at the date on which the dividend was announced, 28 February 2014.  In South Africa, in respect of the Company's dividend access share arrangements, the dividend will be distributed by Old Mutual Dividend Access Company (Pty) Limited, a South African company with tax registration number 9460/144/14/1. No Secondary Tax on Companies (STC) credits will be used for the payment of the dividend.

The record date for this dividend payment is the close of business on 25 April 2014 for all the exchanges where the Company's shares are listed.  The last day to trade cum-dividend will be 14 April 2014 on the Malawi Stock Exchange, 16 April 2014 on the JSE and on the Namibian and Zimbabwe Stock Exchanges and 22 April 2014 for the London Stock Exchange.  The shares will trade ex-dividend from the opening of business on 15 April 2014 on the Malawi Stock Exchange, from the opening of business on 17 April 2014 on the JSE and the Namibian and Zimbabwe Stock Exchanges and from the opening of business on 23 April 2014 on the London Stock Exchange.

Share certificates may not be dematerialised or rematerialised on the South African branch register between 17 and 25 April 2014, both dates inclusive. Transfers between the registers may not take place between 17 April 2014 and 25 April 2014, both dates inclusive, for registers excluding South Africa and between 17 April 2014 and 28 April 2014, both dates inclusive, in respect of the South African register.

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                          UK        [phone]

Kelly de Kock                           SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides life assurance, asset management, banking and general insurance to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.

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

 

END

 

 

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