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| Overview of the Nedcor Transaction |
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| Nedcor Empowerment Transaction [NOTE: THIS IS AN EXTRACT FROM THE FULL OLD MUTUAL PLC ANNOUNCEMENT] |
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| The value of the Nedcor Transaction is based on the indicative market capitalisation of Nedcor at 15 April 2005 of R29 494m, using the 10 day volume weighted average price of R74.75 per share to that date. | ||