Accountability

Accounting to shareholders

Information for shareholders

Electronic communications

For those shareholders who prefer to receive our Annual and Interim Reports electronically, we provide a facility on our website to register for this option. This may be convenient to some shareholders and reduces paper usage and costs. As permitted by recent legislation, and following the lead of most larger listed companies, we are proposing a change to our Articles of Association at our 2008 AGM which will allow the Board to adopt electronic shareholder communication by default, enabling us to circulate hard copies of the Annual and Interim Reports only to those who opt to receive them. Fuller details of this proposal and how we intend to implement it are set out in the AGM Circular.

Dealing in Amlin shares

Amlin’s ordinary shares are listed on the London Stock Exchange. Prices are reported daily in newspapers including the Financial Times, the Daily Telegraph and the London Evening Standard. The B Shares issued in December 2007, further details of which are given in the Directors' report and in note 22 to the Accounts, are not listed or traded on any stock exchange.

The Company’s stockbroker, Hoare Govett Limited, offers a low cost dealing service, which enables UK resident investors who may not have their own stockbrokers to buy or sell Amlin shares. For further information please call Hoare Govett Limited on 020 7678 8300 on business days between 08:00 and 16:30 or find the relevant form together with further details on our website. Hoare Govett Limited is authorised by the Financial Services Authority.

The UK capital gains tax position regarding the B Shares issue (December 2007)

The detailed UK and US tax position of all aspects of the recent return of capital and share consolidation was set out in a circular to shareholders dated 16 November 2007, copies of which are available from the Company Secretary and the Amlin website. This involved the replacement of each 9 ordinary shares of 25p each in the Company previously held by shareholders by 9 B Shares of 22.4p each and 8 consolidated ordinary shares of 28.125p each (New Shares).

Further to that circular, the market value of a New Share for UK tax purposes on the first day on which its price was quoted (17 December 2007) was 302.125p. The market value on the same date of a B Share for UK tax purposes is considered to be 22.3p. As the B Shares will not be traded on any stock exchange, its value was calculated by reference to its redemption value of 22.4p on the first redemption date of 14 January 2008, with a discount applied to take account of the minimum period prior to redemption. Accordingly, shareholders subject to UK taxation of capital gains may apportion the allowable expenditure in relation to their holdings of ordinary shares of 25p each prior to 17 December 2007 as follows: Holdings of new ordinary shares of 28.125p each: 92.333%.

Holdings of B Shares: 7.667%.

The return of capital and recent dividends

In the absence of any election to the contrary, a return of capital of 22.4p per share was made by way of redemption of B shares on 14 January 2008. Proceeds were paid to qualifying shareholders on 17 January 2008. Dividends paid on ordinary shares in 2006 and 2007 were as follows:

Recent dividend payments on Amlin ordinary shares
Record date
Payment date
Amount per share
2005 final
31 March 2006
31 May 2006
6.2p
2006 interim
29 Sep 2006
20 Oct 2006
4.2p
2006 final
30 March 2006
30 May 2007
7.8p
Special
30 March 2007
30 May 2007
8.0p
007 interim
21 Sep 2007
19 Oct 2007
5.0p

Details of the proposed 2007 final dividend are set out in the Directors' report.