In its interim results announcement for the six months ended 30 June 2015 published on 6 August 2015, Old Mutual plc (the 'Company') declared an interim dividend of 2.65p per share (the 'Interim Dividend') or its equivalent in other currencies of payment using exchange rates prevailing on 10 September 2015. 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 (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 currency equivalents of the Interim Dividend have now been established and are as follows:
|South Africa||55.76210||South African cents per share|
|Malawi||23.03||Malawi kwacha per share|
|Namibia||55.76210||Namibian cents per share|
|Zimbabwe||4.09||US cents per share|
|Sweden||0.34||Swedish kronor per share|
These currency equivalents have been calculated using the following exchange rates:
Dividend Tax will be withheld at the rate of 15% from the amount of the gross dividend of 55.76210 South African cents per share paid to South African shareholders unless a shareholder qualifies for exemption. After the Dividend Tax has been withheld, the net dividend will be 47.39779 South African cents per share. The Company had a total of 4,928,335,723 shares in issue at the date on which the dividend was announced, 6 August 2015. In South Africa, 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, in terms of the Company's dividend access share arrangements. 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 September 2015 for all the exchanges where the Company's shares are listed. The last day to trade cum-dividend will be 17 September 2015 on the JSE, 18 September 2015 on the Malawi, Namibian and Zimbabwe Stock Exchanges and 23 September 2015 for the London Stock Exchange. The shares will trade ex-dividend from the opening of business on 18 September 2015 on the JSE, from the opening of business on 21 September 2015 on the Malawi, Namibian and Zimbabwe Stock Exchanges, and from the opening of business on 24 September 2015 on the London Stock Exchange.
Share certificates for shareholders on the South African register may not be dematerialised or rematerialised between 18 September 2015 and 25 September 2015, both dates inclusive. Transfers between the registers may not take place between 17 September 2015 and 25 September 2015, both dates inclusive. Trading in shares held on the Namibian section of the principal register through Old Mutual Namibia Nominees will not be permitted from 17 September 2015 to 23 September 2015, both dates inclusive.
The full timetable for the interim dividend is as follows:
|Declaration date||6 August 2015|
|Currency conversion date||10 September 2015|
|Exchange rates announced||11 September 2015|
|Transfers suspended between registers||opening of business on 17 September 2015|
|Last day to trade cum dividend for shareholders on the branch register in South Africa||17 September 2015|
|Ex-dividend date for shareholders on the branch register in South Africa||18 September 2015|
|Last day to trade cum dividend for shareholders on the branch registers in Malawi and Zimbabwe and on the Namibian section of the principal register||18 September 2015|
|Ex-dividend date for shareholders on the branch registers in Malawi and Zimbabwe and on the Namibian section of the principal register||21 September 2015|
|Last day to trade cum dividend for shareholders on the UK register||23 September 2015|
|Ex-dividend date for shareholders on the UK register||24 September 2015|
|Record date||close of business on 25 September 2015|
|Transfers between registers recommence||opening of business on 28 September 2015|
|Interim dividend payment date||30 October 2015|