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30-Nov-2017
(Official Notice)
The board of directors of Discovery advised that at the annual general meeting ("AGM") of shareholders held on 29 November 2017, all the resolutions, as set out in the Notice and Proxy of AGM and summarised consolidated Financial Statements for the year ended 30 June 2017 which was distributed to shareholders on 29 September 2017, were duly approved by the requisite majority of votes present and voting, in person or represented by proxy.
27-Oct-2017
(Official Notice)
With regard to the audited results for the year ended 30 June 2017, shareholders are advised that the integrated report and the annual financial statements have been published on Discovery?s website, www.discovery.co.za and contain no modifications to the audited results which were published on SENS on 18 September 2017.



Annual Compliance Report in terms of Section 16.20(g) of the JSE Listings Requirements

Shareholders are also advised that the company?s annual compliance report in terms of section 13G(2) of the Broad-based Black Economic Empowerment Amendment Act, No 46 of 2013 (?BBBEE?), is available on the company?s website at www.discovery.co.za.
16-Oct-2017
(Official Notice)
Shareholders are referred to the announcement released on the Stock Exchange News Service on 25 October 2016, wherein they were advised that Discovery had received authorisation from the Registrar of Banks (the ?Registrar?) to establish a banking presence in the Republic of South Africa (the ?Republic?), which authorisation was granted in terms of Section 13(1) of the Banks Act, Act No. 94 of 1990 (the ?Banks Act?).



Shareholders are now advised that NewDisc Ltd. (to be renamed Discovery Bank Ltd. ?the Bank?) has been granted a banking licence in the Republic by the Registrar in terms of Section 17(1) of the Banks Act.



The grant of the banking licence is subject to specific regulatory conditions, including conditions relating to the proposed shareholding in the Bank and Competition Commission approval. In addition certain other regulatory approvals are still required to complete the transactions proposed.



Discovery awaits the Competition Commission?s final response and is in the process of assessing the implications of the conditions. Shareholders will be informed of further developments and progress in the development of Discovery Bank Ltd. when appropriate.

29-Sep-2017
(Official Notice)
Notice is hereby given that the annual general meeting of Discovery shareholders will be held at 14:00 on 29 November 2017 in the auditorium of the Company?s registered offices, ground floor, 155 West Street, Sandton to transact the business as stated in the notice of annual general meeting which was distributed today, together with the summarised consolidated financial statements for the year ended 30 June 2017 and which is also available on the Company?s website, www.discovery.co.za.



The salient dates pertaining to the annual general meeting are as follows:

*Record date to determine which shareholders are entitled to receive the notice of annual general meeting - Friday 22 September 2017

*Last day to trade in order to be eligible to attend and vote at the annual general meeting - Tuesday 14 November 2017

*Record date to determine which shareholders are entitled to attend and vote at the annual general meeting - Friday 17 November 2017

*Forms of proxy for the annual general meeting to be lodged by 12:00 for administrative purposes on* Monday 27 November 2017



18-Sep-2017
(C)
Net income for the year went up 3% to R45.2 billion (R43.7 billion) whilst profit from operations was 8% higher at R6.2 billion (R5.8 billion). Profit attributable to ordinary shareholders jumped 21% to R4.4 billion (R3.7 billion). In addition, headline earnings per share increased by 20% to R683.1 cps (571.1cps).



Final dividend declaration

B preference share cash dividend declaration:

On 24 August 2017, the directors declared a final gross cash dividend of 520.68493 cents (416.54794 cents net of dividend withholding tax) per B preference share for the period 1 January 2017 to 30 June 2017, payable from the income reserves of the company.



Ordinary share cash dividend declaration:

Notice is hereby given that the directors have declared a final gross cash dividend of 98 cents (78.4 cents net of dividend withholding tax) per ordinary share, out of income reserves for the year ended 30 June 2017.



Prospects for growth

A sophisticated capital management structure supports the organic growth methodology to ensure Discovery's financial strength, sufficient financial flexibility through cash generation, and production of above-target returns. Discovery foresees continued strong performance from existing businesses going forward; and spend on new initiatives to reduce over time, absent of the intent to enter banking. The combination of the above positions Discovery for continued growth in the future.
31-Aug-2017
(Official Notice)
Shareholders are advised that:

* Headline earnings per share (undiluted) for the year ended 30 June 2017 (?current year?) is expected to increase in the range of 18% to 22%, to between 674 cents and 697 cents over the prior year ended 30 June 2016 (?prior year?) (2016: 571.1 cents); and

* Earnings per share (undiluted) is expected to increase in the range of 18% to 22%, to between 676 cents and 699 cents (2016: 573.1 cents) over the prior year.



It is practice for the company to issue a trading statement on ?normalized? headline earnings per share, which in management?s view best represents the underlying performance of the Group.



Accordingly, shareholders are advised that:

* Normalised profit from operations is expected to increase by between 8% and 12% in the current year over the prior year to between R6 920 million and R7 176 million (2016: R6 407 million).

* Normalised headline earnings per share (undiluted) is expected to increase in the range of 5% to 8%, to between 710 cents and 730 cents over the prior year (2016: 676.3 cents);



The reason for the difference in the growth rate between headline earnings per share and normalised headline earnings per share is largely as a result of non-recurring rebranding and business acquisition costs in the UK included in headline earnings in the prior year, which have reduced in the current year. Therefore, as management has previously maintained, reporting normalised headline earnings neutralises the impact of non-recurring items and is a more accurate reflection of the performance of the Group.



Discovery?s results for the current year are due to be released on SENS on or about 18 September 2017.
25-Aug-2017
(Official Notice)
Notice is hereby given that the directors have declared a final gross cash dividend of 520.68493 cents (416.54794 cents net of dividend withholding tax) per B preference share for the period 1 January 2017 to 30 June 2017, payable from the income reserves of the Company. A dividend withholding tax of 20% will be applicable to all preference shareholders who are not exempt.



The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

* Last day of trade to receive a dividend : Tuesday, 12 September 2017

* Shares commence trading "ex" dividend : Wednesday, 13 September 2017

* Record date : Friday, 15 September 2017

* Payment date : Monday, 18 September 2017



B Preference share certificates may not be dematerialised or rematerialised between Wednesday, 13 September 2017 and Friday, 15 September 2017, both days inclusive.
24-May-2017
(Official Notice)
Shareholders are referred to the announcement (?Announcement?) earlier today by AIA Australia that it is partnering Discovery and GMHBA through a joint venture to create a new health insurance brand called myOwn that will offer consumers health and life insurance bundled with the wellness program AIA Vitality, in the Australian market.



This new health insurance venture through myOwn is an important step in AIA Australia delivering on its vision to help champion the cause of making Australia the healthiest and most protected nation in the world. myOwn will be available for customers later this year and will offer health insurance with the AIA Vitality wellbeing program to help its members lead healthier lives and get more value for money. As part of this joint venture, GMHBA will also offer AIA Vitality to its members. A full transcript of the Announcement can be accessed at the following web addresses: www.discovery-holdings-ltd.mynewsdesk.com/pressreleases/aia-australia-gmhba-and-discovery- partner-to-help-improve-the-health-of-australians-1982789#.WSVDt6prR2o.mailto
05-May-2017
(Official Notice)
The Board of Directors of Discovery ("Board") announced the appointment of Mr Robert Enslin, as a non-executive director with effect from 4 May 2017.
04-Apr-2017
(Media Comment)
Business Day highlighted that Discovery's share price had considerably outperformed its parent life insurance index over the past decade as the insurer's healthy growth in profit, embedded value and new business initiatives have kept investors coming back for more. The share was up 446% over 10 years and 157% over five years. This was compared with the increases in the JSE's life insurance index of 124% and 82% over the same periods.
24-Feb-2017
(Official Notice)
Shareholders are referred to the announcements released on the Stock Exchange News Service on 16 February 2017 and 23 February 2017 in which they were advised, inter alia, that the board of directors had resolved to declare interim gross cash dividends of:

*529.31507 cents (449.91781 cents net of dividend withholding tax) per B preference share for the period 1 July 2016 to 31 December 2016 to shareholders recorded in the register of the Company on 10 March 2017; and

*88 cents (74.8 cents net of dividend withholding tax) per ordinary share to shareholders recorded in the register of the Company on 17 March 2017; collectively, "Announcements").



Shareholders are now advised that, consequent to the announcement by Minister Gordhan of an increase in the dividend withholding tax ("DWT") rate from 15% to 20%, in his budget speech of 22 February 2017, the DWT applicable to the gross cash dividends to be paid to shareholders who are not exempt from DWT is 20%.



The net dividend amounts are accordingly:

*423.45206 cents per B preference share and not 449.91781 cents as previously announced; and

*70.4 cents per ordinary share and not 74.8 cents as previously announced.



The remainder of the Announcements are unaffected.



23-Feb-2017
(C)
Net insurance premium revenue grew to R14.7 billion (R14.0 billion). Profit from operations jumped 18% to R3.2 billion (R2.7 billion). Profit attributable to ordinary shareholders was 14% higher a R2.0 billion (R1.8 billion). In addition, headline earnings per share rose 12% to 314.0 cents per share (280.6 cents per share).



Interim dividend declaration

The company is assessing the implications of Minister Gordhan's announcement of an increase in the dividend withholding tax rate from 15% to 20%, in his budget speech of 22 February 2017. To the extent that the announced increase impacts the interim ordinary share cash dividend declaration contained in this announcement and the interim preference dividend announced on SENS on 16 February 2017, shareholders will be advised accordingly.



B preference share cash dividend declaration:

On 16 February 2017, the directors declared an interim gross cash dividend of 529.31507 cents (449.91781 cents net of dividend withholding tax) per B preference share for the period 1 July 2016 to 31 December 2016, payable from the income reserves of the company.



Ordinary share cash dividend declaration:

Notice is hereby given that the directors have declared an interim gross cash dividend of 88 cents (74.8 cents net of dividend withholding tax) per ordinary share, out of income reserves for the six month period ended 31 December 2016.
20-Feb-2017
(Official Notice)
Shareholders are advised that:

- Normalised profit from operations is expected to increase by between 10% and 15% for the six months ended 31 December 2016 (?current period?) over the corresponding prior period (?prior period?) to between R3 316 million and R3 467 million (2015: R3 015 million).

- Normalised headline earnings per share (undiluted) is expected to increase in the range of 0% to 5%, to between 336.6 cents and 353.4 cents over the prior period (2015: 336.6 cents);

- Headline earnings per share (undiluted) is expected to increase in the range of 10% to 15%, to between 308.7 cents and 322.7 cents over the prior period (2015: 280.6 cents); and

- Earnings per share (undiluted) is expected to increase in the range of 10% to 15%, to between 309.1 cents and 323.2 cents (2015: 281.0 cents).



The reason for the difference in the growth rate between Normalised profit from operations and Normalised headline earnings per share is that the capital raised in the rights issue of April 2015 was only deployed at the end of the prior period, in December 2015. The effect of this was higher interest income and lower finance charges in the prior period. It is expected that this difference in growth rate will narrow for the Group's full financial year.



Discovery?s results for the current period are due to be released on SENS on 23 February 2017.
16-Feb-2017
(Official Notice)
Notice is hereby given that the directors have declared an interim gross cash dividend of 529.31507 cents (449.91781 cents net of dividend withholding tax) per B preference share for the period 1 July 2016 to 31 December 2016, payable from the income reserves of the Company. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt.



The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

*Last day of trade to receive a dividend - Tuesday, 7 March 2017

*Shares commence trading "ex" dividend - Wednesday, 8 March 2017

*Record date - Friday, 10 March 2017

*Payment date - Monday, 13 March 2017



B Preference share certificates may not be dematerialised or rematerialised between Wednesday, 8 March 2017 and Friday, 10 March 2017, both days inclusive.



03-Feb-2017
(Official Notice)
Shareholders are reminded of the SENS announcements on 10 June 2016 and 15 December 2016, where the Company advised that Mr Richard Farber will relinquish his role as chief financial officer and group financial director.



Deon Marius Viljoen (Deon) has been appointed as financial director to the board of Discovery, with effect from 1 May 2017. Deon will also be appointed as group chief financial officer with effect from 1 May 2017.



Richard Farber will relinquish his role as chief financial officer and group financial director, with effect from 30 April 2017, but will remain an executive director of Discovery and will continue to provide support to Deon during the transition.



15-Dec-2016
(Official Notice)
Shareholders are reminded of the SENS announcement on 10 June 2016, where the Company advised that Mr Richard Farber will relinquish his role as Chief Financial Officer and Group Financial Director of Discovery from 31 December 2016. The process to identify a replacement for Mr Farber has not been completed and the Company hopes to announce an appointment early in 2017. Mr Farber, will continue in the role of CFO and Group Financial Director, through this appointment and the subsequent handover. Further details on the appointment will be communicated in due course.

15-Dec-2016
(Official Notice)
Shareholders are referred to the circular issued to Discovery shareholders on 15 November 2005 (?Circular?) and approved at a general meeting of the Company held on 8 December 2005, relating to a Black Economic Empowerment ("BEE") transaction, pursuant to which Discovery issued 7.05% of Discovery?s then issued share capital to a consortium of BEE parties ( ?BEE Transaction?). In terms of the BEE Transaction, Discovery issued 1,106,455 shares (0.50% of Discovery?s then issued share capital) at R0.001 each to the Maphai SPV, being one of the BEE Transaction consortium members, for an initial period of 11 years (?Initial Period?).



Pursuant to the BEE Transaction, and as described in the Circular, Discovery and the Maphai SPV entered into a subscription agreement (?Maphai SPV Agreement?) regulating, amongst other things:

*the issue of the abovementioned Discovery shares to the Maphai SPV;

*a call option granted to Discovery to repurchase such number of shares at R0.001 per share, as calculated with reference to an agreed formula, so as to provide Discovery with a notional return on the notional commencement amount, at the end of Initial Period; and

*the right of the Maphai SPV to subscribe for the same number of shares repurchased by Discovery in terms of the call option referred to above, within 30 days of expiry of the Initial Period, in order to restore the Maphai SPV?s shareholding in the Company to the level held prior to Discovery?s exercise of the call option/repurchase.



According to the Maphai SPV Agreement, the call option is deemed to be automatically exercised by Discovery at the end of the Initial Period. Shareholders are advised that the Initial Period has expired and that Discovery has exercised its call option to repurchase such number of shares at R0.001 per share, as calculated with reference to an agreed formula, so as to provide Discovery with a notional return on the notional commencement amount, at the end of Initial Period.



Accordingly, Discovery has repurchased 582 954 Discovery shares (?repurchased shares?) held by the Maphai SPV, at a price of R0.001 per Discovery share, using the 30 day VWAP to 9 December 2016 of R113.40, as the reference price per the Maphai SPV agreement. The Company has received authorization from the JSE for the delisting and cancelation of the repurchased shares which will be restored forthwith to the status of authorized shares of the Company.
05-Dec-2016
(Official Notice)
Shareholders are advised that Mr SB Epstein has tendered his resignation as Non-executive Director of the board of the company, with immediate effect. He attended his last meeting of the board of Discovery on 1 December 2016.



Mr Epstein has resigned after serving on the board of Discovery as Non-executive Director since February 2005. Founder and Senior Partner of Epstein Becker - Green, a US based health law firm, Mr Epstein brought to the board of the company a wealth of unique skills and experience.
30-Nov-2016
(Official Notice)
The board of directors of Discovery hereby advises that at the annual general meeting (?AGM?) of shareholders held on 29 November 2016, the following resolutions, as set out in the Notice and Proxy of AGM and summarised consolidated Financial Statements for the year ended 30 June 2016 which was distributed to shareholders on 31 October 2016, were duly approved by the requisite majority of votes present and voting, in person or represented by proxy.



The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
31-Oct-2016
(Official Notice)
With regard to the audited results for the year ended 30 June 2016, shareholders are advised that the annual financial statements will be distributed to shareholders on 31 October 2016 and contain no modifications to the audited results which were published on SENS on 6 September 2016.



Notice of the annual general meeting

Notice is hereby given that the annual general meeting of Discovery shareholders will be held at 14:00 on Tuesday 29 November 2016 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

*Record date to determine which shareholders are entitled to receive the notice of annual general meeting - Friday 21 October 2016

*Last day to trade in order to be eligible to attend and vote at the annual general meeting - Friday 18 November 2016

*Record date to determine which shareholders are entitled to attend and vote at the annual general meeting - Friday 18 November 2016

*Forms of proxy for the annual general meeting to be lodged by 14:00 on* Friday 25 November 2016



*any proxies not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.
25-Oct-2016
(Official Notice)
Shareholders are advised that Discovery has received authorisation from the Registrar of Banks to establish a banking presence in the Republic of South Africa, granted in terms of Section 13(1) of the Banks Act, Act No. 94 of 1990 (?Banks Act?), subject to certain conditions. Pursuant to this authorisation, Discovery has a period of 12 months to fulfil the said conditions and obtain its final approval in terms of Section 17 of the Banks Act. Shareholders are advised that such grant of a banking license pursuant to section 17 above is subject to the approval of the Registrar of Banks.
06-Sep-2016
(C)
Net insurance premium revenue grew to R28.8 billion (R24.6 billion) and net income jumped to R43.7 billion (R39.3 billion). Profit from operations gained 11% to R5.8 billion (R5.2 billion). Profit attributable to ordinary shareholders took a 33% knock to R3.7 billion (R5.5 billion). In addition, headline earnings per share slumped 35% to 571.1 cents per share (882.4 cents per share).



Final dividend declaration

B preference share cash dividend declaration:

On 25 August 2016, the directors declared a final gross cash dividend of 514.24658 cents (437.10959 cents net of dividend withholding tax) per B preference share for period 1 January 2016 to 30 June 2016, payable from the income reserves of the company.



Ordinary share cash dividend declaration:

Notice is hereby given that the directors have declared a final gross cash dividend of 90 cents (76.5 cents net of dividend withholding tax) per ordinary share, out of income reserves for the year ended 30 June 2016.



Prospects for growth

Discovery is currently well capitalised to fund its growth ambitions and has buffers to withstand potential adverse experience, while safeguarding future earnings and maintaining acceptable levels of debt. Given the quantum of growth opportunities facing the Group, however, this plan is carefully and systematically reviewed and updated. Discovery foresees continued strong performance from existing businesses going forward; and spend on new initiatives to reduce over time, absent of the intent to enter banking. This combination positions Discovery for continued growth in the future.
25-Aug-2016
(Official Notice)
Notice is hereby given that the directors have declared a final gross cash dividend of 514.24658 cents (437.10959 cents net of dividend withholding tax) per B preference share for the period 1 January 2016 to 30 June 2016, payable from the income reserves of the company. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt.



The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

*Last day of trade to receive a dividend - Tuesday, 13 September 2016

*Shares commence trading "ex" dividend - Wednesday,14 September 2016

*Record date - Friday, 16 September 2016

*Payment date - Monday, 19 September 2016



B Preference share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2016 and Friday, 16 September 2016, both days inclusive.



25-Aug-2016
(Official Notice)
Shareholders are advised that normalised profit from operations is expected to increase by between 10% and 15% and normalised headline earnings is expected to increase by between 5% and 10% for the year ended 30 June 2016 (?current period?). Discovery?s results have been affected by an increased investment in new initiatives, including the takeon of the Bankmed medical scheme administration and managed care contract, the investment in the planned expansion of the business model into banking, the buying up of Discovery?s economic interest in the DiscoveryCard and increased costs arising from growth in Ping An Health and other International Partner Markets.



Normalised headline earnings per share for the current period is impacted by the increase in total shares in issue, following implementation of the Rights Issue in April 2015.



Headline earnings per share and basic earnings per share for the year ended 30 June 2015 (?prior period?) were positively impacted by the accounting treatment resulting from the once-off lapsing of the put options Prudential held in respect of its interest in the UK joint venture ? this was due to Discovery?s purchase of the Prudential?s remaining 25% of the joint venture in November 2014. As this once-off increase in profits occurred during the prior period, all current period comparatives with the 2015 financial year will be affected, as previously advised in the results announcement for the year ended 30 June 2015 released on the Stock Exchange News Service (?SENS?) on 10 September 2015.



Shareholders are advised of the following guidance on undiluted earnings per share for the current period:

- Normalised headline earnings per share is expected to increase in the range between 0% to 5%, to between 672.2 cents and 705.8 cents over the prior period (2015: 672.2 cents);

- Headline earnings per share is expected to decrease in the range of 30% to 40%, to between 617.7 cents and 529.4 cents over the prior period (2015: 882.4 cents); and

- Earnings per share is expected to decrease in the range of 30% to 40%, to between 640.4 cents and 548.9 cents (2015: 914.8 cents).



Normalised profit from operations is expected to increase in the range of 10% to 15%, to between R6 368 million and R6 657 million over the prior period (2015: R5 789m).



Discovery?s results for the current period are due to be released on SENS on 6 September 2016.
21-Jul-2016
(Official Notice)
Shareholders are referred to the announcement earlier today by Sumitomo Life Insurance Co that it has entered into a strategic partnership with Discovery and SoftBank Corporation that will introduce Vitality into the Japanese market.



A full transcript of the announcement can be accessed at the following web addresses: www.discovery.co.za or www.sumitomolife.co.jp/english/newsrelease/.



Further details will be provided at Discovery?s results announcement, due to be released on SENS on or about 1 September 2016.
10-Jun-2016
(Official Notice)
Shareholders are advised that Mr Richard Farber will relinquish his role as Chief Financial Officer and Group Financial Director of Discovery with effect from 31 December 2016. Mr Farber will be relocating to Australia but will remain as a director on the board of the company. A process is underway to appoint a replacement and further details will be communicated in due course.

25-Feb-2016
(C)
Net insurance premium revenue for the interim period rose to R14.0 billion (R12.2 billion). Net income climbed to R21.1 billion (R19.2 billion). Profit from operations went up 6% to R2.7 billion (R2.6 billion). Profit attributable to ordinary shareholders took a 49% dip to R1.8 billion (R3.5 billion). In addition, headline earnings per share were 52% lower at 280.6 cents per share (586.6 cents per share).



B preference share cash dividend declaration

On 18 February 2016, the directors declared an interim gross cash dividend of 480.06849 cents (408.05822 cents net of dividend withholding tax) per B preference share for period 1 July 2015 to 31 December 2015.



Ordinary share cash dividend declaration

Notice is hereby given that the directors have declared an interim gross cash dividend of 85.5 cents (72.675 cents net of dividend withholding tax) per ordinary share, out of income reserves for the six month period ended 31 December 2015.
18-Feb-2016
(Official Notice)
The directors have declared an interim gross cash dividend of 480.06849 cents (408.05822 cents net of dividend withholding tax) per B preference share for the period 1 July 2015 to 31 December 2015. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt.



The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

*Last day of trade to receive a dividend: Friday, 4 March 2016

*Shares commence trading "ex" dividend: Monday, 7 March 2016

*Record date: Friday, 11 March 2016

*Payment date: Monday, 14 March 2016



B Preference share certificates may not be dematerialised or rematerialised between Monday, 7 March 2016 and Friday, 11 March 2016, both days inclusive.

17-Feb-2016
(Official Notice)
09-Feb-2016
(Official Notice)
Shareholders are referred to the announcement earlier today by Manulife Financial Corporation that it has reached an agreement with Discovery?s US Operations, The Vitality Group, to introduce Vitality into the Canadian market. A full transcript of the announcement can be accessed at the following web address: www.manulife.ca/vitality or in the news releases section of their website www.manulife.com Further details will be provided at Discovery?s results announcement, due to be released on SENS on 25 February 2016.
14-Jan-2016
(Official Notice)
In compliance with the JSE Limited Listings Requirements, the following information is disclosed.



Mr Jan Durand has tendered his resignation as non-executive director of the board of the company with immediate effect.



Mr Durand is currently a non-executive director of Mediclinic International Ltd. (?Mediclinic?). In light of the proposed combination of Mediclinic with Al Noor Hospitals Group plc pursuant to which it is intended that the combined entity will have a primary listing on the Main Market of the London Stock Exchange, Mr Durand has reconsidered his current directorships. In order to avoid any possible conflicts of interest, Mr Durand has decided to resign from the board of company.
15-Dec-2015
(Official Notice)
Shareholders are referred to the circular issued to Discovery shareholders on 15 November 2005 ("Circular") and approved at a general meeting of the Company held on 8 December 2005, relating to a Black Economic Empowerment ("BEE") transaction, pursuant to which Discovery issued 7.05% of Discovery?s then issued share capital to a consortium of BEE parties ("BEE Transaction"). In terms of the BEE Transaction, Discovery issued 14 226 118 shares (2.59% of Discovery?s then issued share capital) at R0.001 each to the Discovery Foundation ("The Foundation"), being one of the BEE Transaction consortium members, for an initial period of 10 years ("Initial Period").



Pursuant to the BEE Transaction, and as described in the Circular, Discovery and The Foundation entered into a subscription agreement ("Foundation Agreement") regulating, amongst other things:

? the issue of the abovementioned Discovery shares to The Foundation;

? a call option granted to Discovery to repurchase such number of shares at R0.001 per share, as calculated with reference to an agreed formula, as to provide Discovery with a notional return on the notional commencement amount, at the end of Initial Period; and

? the right of The Foundation to subscribe for the same number of shares repurchased by Discovery in terms of the call option referred to above, in order to restore The Foundation?s shareholding in the Company to the level held prior to Discovery?s exercise of the call option/repurchase ("Foundation Agreement").



Shareholders are advised that the Initial Period has expired and that The Foundation has resolved in terms of the Foundation Agreement to refinance its shareholding in Discovery which entails ?

? The repurchase by Discovery of 5 666 134 Discovery shares held by The Foundation, at a price of R0.001 per Discovery share; and

? The issue to The Foundation by Discovery of 5 666 134 new Discovery shares at a price of R144.22 per Discovery share, representing the 30 day VWAP to 9 December 2015.
02-Dec-2015
(Official Notice)
The board of directors of Discovery advised that at the annual general meeting (?AGM?) of shareholders held on 1 December 2015, all the resolutions, as set out in the Notice and Proxy of AGM which was incorporated in the Abridged Annual Financial Statements distributed to shareholders on 2 November 2015, were duly approved by the requisite majority of votes present and voting, in person or represented by proxy.
02-Nov-2015
(Official Notice)
With regard to the audited results for the year ended 30 June 2015, shareholders are advised that the abridged financial statements have been distributed to shareholders today, 2 November 2015, and contain no modifications to the audited results which were published on the Stock Exchange News Service on 10 September 2015.



Notice of the annual general meeting

Notice is hereby given that the sixteenth annual general meeting of Discovery shareholders will be held in the Auditorium, Ground Floor, 155 West Street, Sandton on Tuesday, 1 December 2015 at 14h00 to transact the business as stated in the annual general meeting notice.



Salient dates

The notice of the company?s annual general meeting has been sent to its shareholders who were recorded as such in the company?s securities register on Friday, 23 October 2015, being the notice record date set by the Board of the company to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date on which shareholders of the company must be registered as such in the company?s securities register in order to attend and vote at the annual general meeting is Friday, 20 November 2015, being the voting record date set by the Board of the company to determine which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Friday, 13 November 2015. Proxy forms must be lodged by no later than 14h00 on Friday, 27 November 2015. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.
23-Oct-2015
(Official Notice)
The Board of Directors of Discovery ("Board") announced the appointment of Ms Faith Khanyile as a non-executive director to the Board, with effect from 22 October 2015.
10-Sep-2015
(C)
Net income for the year increased to R39.309 billion (2014: R34.186 billion), profit attributable to ordinary shareholders rose by 69% to R5.480 billion (2014: R3.246 billion), while headline earnings per share jumped by 67% to 882.4 cents per share (2014: 527.4 cents per share).



B preference share cash dividend declaration

On 27 August 2015, the directors declared a gross cash dividend of 458.699 cents (389.89415 cents net of dividend withholding tax) per B preference share for period 1 January 2015 to 30 June 2015.



Ordinary share cash dividend declaration

The directors have declared a final gross cash dividend of 89.0 cents (75.65 cents net of dividend withholding tax) per ordinary share, out of income reserves for the year ended 30 June 2015.



Prospects and Trading Statement

The progress made over the past financial year positions Discovery strongly for future growth. Due to the once-off accounting treatment resulting from the lapsing of the put options Prudential held in respect of its interest in the UK joint venture, Discovery's undiluted headline earnings per share and basic earnings per share for the six months ending 31 December 2015 ("next period") is expected to be lower by more than 20% (117.3 cents and 118.5 cents respectively) than that of the six months ended 31 December 2014 ("prior period") of 586.6 cents and 592.6 cents respectively (restated for the bonus element of the rights issue shares). Normalised headline earnings per share, which the Company views as the appropriate measure of performance, will not be impacted by this accounting treatment.
08-Sep-2015
(Official Notice)
Shareholders are advised that the Company?s subsidiary, Discovery Health (Pty) Ltd. has been awarded the administration and managed care services contract for the Bankmed Medical Scheme with effect from 1 January 2016. Discovery?s results for the year ended 30 June 2015 are expected to be released on SENS on Thursday, 10th September 2015.
27-Aug-2015
(Official Notice)
Notice is hereby given that the directors have declared a gross cash dividend of 458.699 cents (389.89415 cents net of dividend withholding tax) per B preference share for the period 1 January 2015 to 30 June 2015. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt. The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

*Last day of trade to receive a dividend Friday, 11 September 2015

*Shares commence trading "ex" dividend Monday, 14 September 2015

*Record date Friday, 18 September 2015

*Payment date Monday, 21 September 2015



B Preference share certificates may not be dematerialised or rematerialised between Monday, 14 September 2015 and Friday, 18 September 2015, both days inclusive.

27-Aug-2015
(Official Notice)
The following statement is made with reference to the requirements of paragraph 3.4(b) of the JSE Limited Listings Requirements, which requires an issuer to publish a trading statement as soon as it has a reasonable degree of certainty that earnings per share and / or headline earnings per share for the next reporting period will differ by at least 20% from that of the previous corresponding reporting period.



Discovery is currently finalising its results for the year ended 30 June 2015 ("current period"). Management is of the view that normalised headline earnings per share best represents the underlying operating performance of the Group. Shareholders are referred to the unaudited interim results announcement on the Stock Exchange News Service ("SENS") dated 24 February 2015 which advised that, Discovery?s acquisition of the remaining 25% issued share capital of Prudential Health Holdings Limited, the holding company of the PruHealth and PruProtect joint venture, from Prudential Assurance Company ("Prudential"), extinguished the put options Prudential held in respect of its interest in the joint venture. The accounting treatment of this has an effect on earnings per share and headline earnings per share, but does not impact normalised headline earnings, which the Company views as an appropriate measure of performance and best representing underlying performance.



Accordingly shareholders are advised that guidance for the current period is as follows: Guidance for the current period

Range (cents)

*Normalised headline earnings per share undiluted - 654.3c to 713.8c

*Headline earnings per share- undiluted 843.8c to 896.6c

*Earnings per share- basic 893.9c to 949.8c



Shareholders are further advised that the Rights Issue announced on SENS on 7 April 2015, has resulted in an increase in the total shares in issue. In terms of International Accounting Standards (IAS33: Earnings per share), the weighted average number of shares for the current and prior period is adjusted by the bonus element of the Rights Issue. This has resulted in the requirement to restate the normalised, headline and earnings per share results for the year ended 30 June 2014.



Discovery?s results for the current period are due to be released on SENS on 10 September 2015. The financial information on which this trading statement is based has not been reviewed and reported on by the Company?s external auditors.

24-Apr-2015
(Official Notice)
08-Apr-2015
(Official Notice)
Discovery and John Hancock Insurance (?John Hancock?) have entered into a strategic partnership which will see the introduction of a comprehensive healthy living program for U.S. consumers. John Hancock, a division of the global financial services group Manulife, is one of the largest life insurers in the United States.



Discovery?s shared-value insurance model is based on the combination of engaging policyholders and incentivising them to manage their health, and dynamically pricing their behaviour into the cost of insurance. The model leverages insights from behavioural economics in an immediate rewards system that drives positive behaviour change over the long term. The change in behaviour results in lower insurance costs and savings that are then used to fund incentives. Customers benefit from the shared-value model through better health and financial rewards.



Recent research conducted in South Africa showed that Vitality incentives have a positive and measurable impact towards improving healthy lifestyle choices. The research also revealed that membership of the Vitality wellness programme is closely linked to the tendency to undertake a health screening, and as a result to also take preventive measures against potentially life threating non- communicable diseases.



The partnership with John Hancock strengthens Discovery?s position as the global leader in the field of incentivised wellness. Discovery has a global presence through partnerships with Ping An in China, AIA in Asia and Australia, and The Generali Group in Europe. Discovery also wholly owns VitalityLife and VitalityHealth in the UK (previously PruProtect and PruHealth respectively).
07-Apr-2015
(Official Notice)
10-Mar-2015
(Official Notice)
10-Mar-2015
(Official Notice)
24-Feb-2015
(Official Notice)
24-Feb-2015
(C)
Net insurance premium revenue jumped to R12.2 billion (R10 billion). Profit from operations grew to R2.6 billion (R2.4billion). Profit attributable to ordinary shareholders was higher at R3.5 billion (R1.7 billion). In addition, headline earnings per share rose to 602.6cps (301.4cps).



B preference share cash dividend declaration:

On 19 February 2015, the Directors declared a gross cash dividend of 465.0 cents (395.25 cents net of dividend withholding tax) per B preference share for the period 1 July 2014 to 31 December 2014.



Ordinary share cash dividend declaration

Notice is hereby given that the Directors have declared an interim gross cash dividend of 85.5 cents (72.675 cents net of dividend withholding tax) per ordinary share for the six month period ended 31 December 2014.



Prospects

The period under review to 31 December 2014 saw continued investment in the Discovery business model. This model uses behavioural incentives to engage members to make better health and lifestyle choices, and integrates this engagement into their insurance. This shared value approach leads to lower price points, the attraction of healthier lives, behaviour change, lower lapse rates, and better selective lapsation - thereby creating value for members, the insurer, and broader society. Over the period, the model delivered continued growth in the established businesses, and strong new business growth (+100%) in the new businesses. This manifested in total new business growth of 17% for the period to R6 663 million; growth in headline earnings of 106% (distorted by the accounting treatment of the acquisition of Prudential's remaining stake in the UK joint venture); an uplift in normalised headline earnings of 20% to R1 981 million; an embedded value increase of 14% to R45.5 billion; and return on capital exceeding the internal benchmark rate of risk free plus 10%. The period was also one of significant corporate activity, including the acquisition of Prudential's remaining 25% shareholding in the UK joint venture for ?155 million, and the successful restructuring of the UK business. In addition, the period saw Discovery formally establish Discovery Partner Markets; expanding the Discovery business model with some of the world's leading insurers in their markets.

19-Feb-2015
(Official Notice)
Notice was given that the directors have declared a gross cash dividend of 465 cents (395.25 cents net of dividend withholding tax) per B preference share for the period 1 July 2014 to 31 December 2014. The dividend has been declared from income reserves and no secondary tax on companies? credits has been used. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt. The issued preference share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

* Last day of trade to receive a dividend : Friday, 6 March 2015

* Shares commence trading "ex" dividend : Monday, 9 March 2015

* Record date : Friday, 13 March 2015

* Payment date : Monday, 16 March 2015



Share certificates may not be dematerialised or rematerialised between Monday, 9 March 2015 and Friday, 13 March 2015, both days inclusive.
18-Feb-2015
(Official Notice)
Discovery is currently finalising its results for the six months ended 31 December 2014 ("current period"). Management is of the view that normalised headline earnings per share best represents the underlying operating performance of the Group.



Shareholders are referred to the Stock Exchange News Service ("SENS") announcement of 19 November 2014 which advised that, following Discovery's acquisition of the remaining 25% issued share capital of Prudential Health Holdings Limited, the holding company of PruHealth and PruProtect joint venture, from Prudential Assurance Company ("Prudential"), the accounting of the puttable non-controlling interest in respect of Prudential's put option falls away, and the difference between the current value and the purchase price of the 25% will be released to the income statement for the six months ended 31 December 2014. The accounting effects of the release of the put option liability impacts positively on earnings per share and headline earnings per share and does not have any impact on normalised earnings per share or normalised headline earnings per share.



Shareholders are advised that guidance for the current period is as follows:

*Normalised headline earnings per share undiluted range (cents) - 325.8c to 355.4c

*Headline earnings per share- undiluted range (cents) - 587.7c to 617.9c

*Earnings per share- basic range (cents) - 600.0c to 630.8c



Discovery's results for the current period are due to be released on SENS on 24 February 2015. The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.

03-Dec-2014
(Official Notice)
At the 2014 annual general meeting of the shareholders of Discovery held yesterday, 2 December 2014 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
19-Nov-2014
(Official Notice)
Shareholders are referred to the announcement of 10 November 2014 which advised that Discovery has entered into a binding agreement to acquire the remaining 25% issued share capital of Prudential Health Holdings Ltd., the holding company of PruHealth and PruProtect ("joint venture"), the UK joint venture with Prudential Assurance Company ("Prudential"), for GBP155 million ("the acquisition"). Further to this announcement, shareholders are advised that the acquisition has now been completed.



Shareholders are reminded that Prudential had the option to sell its 25% shareholding in the joint venture to Discovery ("put option") at the fair market value, each year from 2015. This put option was valued as a puttable non-controlling interest, at the present value of the fair value at the final expected exercise date being 2020.



With the acquisition of the remaining 25% of the joint venture, the puttable non-controlling interest in respect of the Prudential's put option falls away, and the difference between the current value and the purchase price of the 25% will be released to profit or loss for the 6 months ended 31 December 2014. As a result, Discovery's undiluted headline earnings and basic earnings per share for the 6 months ending 31 December 2014 are expected to be at least 85% higher (260 cents) than the 301.4 cents and 307.7 cents respectively, reported for the corresponding prior period ended 31 December 2013.



The accounting effects of the release of the put option liability will not have any impact on normalised earnings or normalised headline earnings per share.



Given the early stage of the current reporting period, Discovery cannot with reasonable certainty quantify the extent of its results for the 6 months ending 31 December 2014 within the 20% range required by the Listings Requirements of the JSE Ltd.



It is expected that a trading statement for the 6 months ending 31 December 2014 will be issued later, which should be on or about 18th February 2015.
10-Nov-2014
(Official Notice)
10-Nov-2014
(Official Notice)
Shareholders are advised that Discovery will hold a conference call at 11h30 (SA time) today, 10 November 2014 to share important developments surrounding its international business strategy. Full details will be released on SENS prior to the conference call.



Shareholders and interested parties wishing to participate on the conference call are welcome to contact Nicola Wisbey on 011 529 1855 or nicolaw@discovery.co.za, to confirm your participation. A playback of the conference call will be made available on the Company's website at www.discovery.co.za, for investors who cannot participate in the call.
04-Nov-2014
(Official Notice)
With regard to the audited results for the year ended 30 June 2014, shareholders are advised that the abridged annual financial statements will be distributed to shareholders on 5 November 2014 and contain no modifications to the audited results which were released on the Stock Exchange News Service on 3 September 2014.



Notice of the annual general meeting

Notice is hereby given that the Fifteenth annual general meeting of Discovery shareholders will be held in the Auditorium, Ground Floor, 155 West Street, Sandton on Tuesday, 2 December 2014 at 11:00 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

*Record date to determine which shareholders are entitled to receive the notice of annual general meeting -- Friday, 24 October 2014

*Last day to trade in order to be eligible to attend and vote at the annual general meeting -- Friday, 14 November 2014

*Record date to determine which shareholders are entitled to attend and vote at the annual general meeting -- Friday, 21 November 2014

*Forms of proxy for the annual general meeting to be lodged by 12:00 on* Friday, 28 November 2014

*any proxies not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.



Due to the ongoing postal strike, delays may be experienced in the receipt of the abridged financial statements and notice of the annual general meeting. Shareholders can contact Mr Thys Botha on 011 529-5199 to request an electronic version of the abridged financial statements and notice of the annual general meeting. In addition, the report is available on the company's website www.discovery.co.za.
03-Sep-2014
(C)
Net income for the year shot up to R34.2 billion (2013: R24.9 billion). Profit before tax jumped by 44% to R4.6 billion (2013: R3.2 billion), while profit attributable to ordinary shareholders increased by 57% to R3.2 billion (2013: R2.1 billion). Furthermore, headline earnings per share was 46% higher at 542 cents per share (2013: 372 cents per share).



B preference share cash dividend declaration:

On 28 August 2014, the directors declared a gross cash dividend of 442.19178 cents (375.86301 cents net of dividend withholding tax) per B preference share for period 1 January 2014 to 30 June 2014.



Ordinary share cash dividend declaration:

The directors have declared a final gross cash dividend of 78 cents per ordinary share, out of income reserves for the year ended 30 June 2014. The Company has utilised secondary tax on companies' credits amounting to 2.52980 cents per share.



Prospects

The progress made during the period under review positions Discovery strongly for continued growth and profitability into the future.
28-Aug-2014
(Official Notice)
Notice is hereby given that the directors have declared a final gross cash dividend of 442.19178 cents (375.86301 cents net of dividend withholding tax) per B preference share for the period 1 January 2014 to 30 June 2014.



The dividend has been declared from income reserves and no secondary tax on companies' credits has been used.



A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt.



The issued share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

*Last day of trade to receive a dividend -- Friday, 12 September 2014

*Shares commence trading "ex" dividend -- Monday, 15 September 2014

*Record date -- Friday, 19 September 2014

*Payment date -- Monday, 22 September 2014



Share certificates may not be dematerialised or rematerialised between Monday, 15 September 2014 and Friday, 19 September 2014, both days inclusive.
27-Aug-2014
(Official Notice)
Discovery is currently finalising its results for the year ended 30 June 2014 ("current period"). Management is of the view that normalised headline earnings per share best represents the underlying operating performance of the group.



Shareholders are advised that guidance for the current period is as follows:

Guidance for the current period %

Normalised Headline Earnings - undiluted : 15% to 25% increase

Headline Earnings - undiluted : 40% to 50% increase

Earnings - basic : 45% to 55% increase



Discovery's results for the current period are due to be released on SENS on 03 September 2014. The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.

26-Aug-2014
(Official Notice)
Discovery Ltd announced a strategic partnership deal with US- based Cambridge Mobile Telematics (CMT), a leading telematics technology provider. This deal will further bolster the current strategic partnership between Discovery Insure and CMT.



Discovery Ltd, with operations in South Africa, the United Kingdom, the United States, China, Singapore and Australia, is increasingly becoming known for its disruptive innovation and replicable business model that structurally changes the way insurance works by improving consumers' behaviour in terms of health and driving. CMT has developed patented technology embedded in popular mobile applications that allows users to seamlessly interact with massive amounts of sensor data processed from smartphones, other mobile devices, and cars.



ABI Research, a New York-based market research and intelligence firm, estimates that the number of monitored drivers worldwide will rise from 1.85 million in 2010 to 89 million by 2017. Telematics focuses on the use of wireless technologies to send data over long distances. More than 1.24 million road traffic deaths occur each year, according to the most recent World Health Organization report on road safety. In the context of high road fatality rates, in South Africa and globally, the ability to change driving behaviour through robust and accurate measurement and attractive incentives has significant potential to reduce mortality rates over the long term. Discovery Insure's business model centres on combining telematics technology with insights from behavioural economics in its driver- behaviour programme.
24-Jul-2014
(Media Comment)
According to Business Report, the new Discovery headquarters being build in Sandton is the largest single commercial building in Africa. It will bring all of the 5000 plus employees, divided into four different building around Sandton, into one office building. According to Norbert Sasse, chief executive of Growthpoint, the company responsible for building the headquarters, this will be one of the most exciting property development not only in South Africa but possibly even on the African continent. Discovery is scheduled to occupy the building in January 2018.
14-Apr-2014
(Official Notice)
The Board of Discovery announced the appointment of Mr Herman Bosman as a non-executive director to the Board, with effect from 14 April 2014. Mr Bosman, who is CEO designate of Rand Merchant Insurance Holdings Ltd. ("RMIH"), will succeed Mr Peter Cooper who is retiring as non-executive director from the Discovery Board as part of RMIH's previously announced executive succession plan. RMIH, with a 25.01% interest, is Discovery's largest shareholder.
21-Feb-2014
(Media Comment)
Business Day highlighted that Discovery's short term insurance division is on track to be profitable within two years, in contrast with other South African short-term insurers. Discovery CEO Adrian Gore predicted that the Discovery Insure model, which offers clients incentives to drive more carefully, leading to reduced claims, will make money when it achieves scale. Discovery Insure grew new business 40% in the group's results for six months to December.
20-Feb-2014
(C)
Net insurance premium revenue jumped to R10.0 billion (R7.4 billion). Profit from operations grew by 25% to R2.4 billion (R1.9 billion). Profit attributable to ordinary shareholders was 38% higher at R1.7 billion (R1.2 billion). In addition, headline earnings per share rose by 35% to 301.4cps (223.1cps).



Dividend

B preference share cash dividend declaration:

Notice is hereby given that the directors have declared an interim gross cash dividend of 428.49315 cents (364.21918 cents net of dividend withholding tax) per B preference share for period 1 July 2013 to 31 December 2013.



Ordinary share cash dividend declaration:

Notice is hereby given that the Directors have declared an interim gross cash dividend of 73 cents (62.05 cents net of dividend withholding tax) per ordinary share for the six month period ended 31 December 2013.



Prospects

The progress made over the past six months positions Discovery strongly for continued growth and profitability into the future.
12-Feb-2014
(Official Notice)
Discovery is currently finalising its results for the six month period ended 31 December 2013, which will be released on SENS on 20 February 2014. Shareholders are advised that normalised headline earnings per share is expected to be between 15% and 25% higher than that of the previous corresponding six month period ended 31 December 2012 ("previous corresponding period"). The board is of the view that normalised headline earnings per share best represents the underlying operating performance of the Group. Earnings per share and headline earnings per share are expected to be between 30% and 40% higher than that of the previous corresponding period.
17-Dec-2013
(Official Notice)
The board of Discovery announced the appointment of Mr Tito Mboweni, as a non-executive director to the Board, with effect from 1 January 2014.
06-Dec-2013
(Official Notice)
04-Dec-2013
(Media Comment)
Business Day highlighted that Discovery said it was working with joint venture company AIA Group to expand their AIA Vitality offering in the Asia- Pacific region , which is becoming vulnerable to the effects of chronic lifestyle diseases. AIA Group and Discovery launched AIA Vitality in July this year. AIA Vitality offers protection products designed to deliver better health and lower premium rates for AIA's customers.
03-Dec-2013
(Official Notice)
At the fourteenth (14th) annual general meeting of the shareholders of Discovery held today, 3 December 2013 all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
05-Nov-2013
(Official Notice)
With regard to the audited results for the year ended 30 June 2013, shareholders are advised that the abridged annual financial statements will be distributed to shareholders on 5 November 2013 and contain no modifications to the audited results which were published on SENS on 3 September 2013.



Notice of the annual general meeting

Notice was given that the Fourteenth annual general meeting of Discovery shareholders will be held in the Auditorium, Ground Floor, 155 West Street, Sandton on Tuesday, 3 December 2013 at 13:30 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements. Shareholders are advised that the notice of annual general meeting erroneously states that the record date to determine which shareholders are to receive the notice of annual general meeting, is Friday, 18 October 2013. The correct notice record date is 25 October 2013.
04-Sep-2013
(Media Comment)
Business Report highlighted that Discovery Holdings, has projected that its medical scheme would accumulate a surplus of approximately R1.3 billion in 2013 because it had managed to keep its medical inflation lower than the industry's average. The entire group grew its new business by 15 percent but chief executive Adrian Gore said Discovery Health's growth was remarkable because it was achieved off an already high base.
03-Sep-2013
(C)
Insurance premium revenue increased to R17.93 billion (2012: R14.7 billion). Net income rose to R24.9 billion (2012: R19.9 billion), while profit attributable to ordinary shareholders lowered to R2.1 billion (2012: R2.2 billion). Furthermore, headline earnings per share dropped to 372 cents per share (2012: 383.7 cents per share).



B preference share cash dividend declaration:

On 29 August 2013, the directors declared a final gross cash dividend of 421.50685 cents (358.28082 cents net of dividend withholding tax) per B preference share for the period 1 January 2013 to 30 June 2013.



Ordinary share cash dividend declaration:

Notice is given that the Directors have declared a final gross cash dividend of 64.5 cents (54.825 cents net of dividend withholding tax) per ordinary share for the year ended 30 June 2013.



Prospects

The progress made over the past financial year positions Discovery strongly for continued growth and profitability in the future.
30-Aug-2013
(Official Notice)
Notice is given that the directors have declared a gross cash dividend of 421.50685 cents (358.28082 cents net of dividend withholding tax) per preference share for the period 1 January 2013 to 30 June 2013. The dividend has been declared from income reserves and no secondary tax on companies? credits has been used. A dividend withholding tax of 15% will be applicable to all preference shareholders who are not exempt. The issued share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

* Last day of trade to receive a dividend: Friday, 13 September 2013

* Shares commence trading "ex" dividend: Monday, 16 September 2013

* Record date: Friday, 20 September 2013

* Payment date: Monday, 23 September 2013



Share certificates may not be dematerialised or rematerialised between Monday, 16 September 2013 and Friday, 20 September 2013, both days inclusive.
28-Aug-2013
(Official Notice)
Discovery is currently finalising its results for the year ended 30 June 2013 ("current period"), which will be released on SENS on 03 September 2013. Shareholders are advised that normalised headline earnings per share are expected to be between 15% and 25% higher than that of the corresponding period. In the current period, Discovery has continued, as in prior periods, to focus on the progression of normalised headline earnings that excludes the accounting impact of the Standard Life Healthcare acquisition, the recapture of reinsurance and the accounting for the puttable non-controlling interest financial liability. Management is of the view that this best represents the underlying operating performance.



As a result of the accounting for the recapture of reinsurance and the increase in the fair value of puttable non-controlling interest financial liability, shareholders are advised that headline earnings per share are expected to be between 0% and 10% lower than that of the corresponding reporting period of the previous year ("corresponding period"), while earnings per share are expected to be between 0% and 10% lower than the corresponding period.
17-Jul-2013
(Official Notice)
AIA Group Ltd. ("AIA") and Discovery Ltd. ("Discovery") announced a strategic joint venture to introduce Discovery's successful wellness-based life insurance model to the Asia-Pacific region.



The joint venture, known as "AIA Vitality" was launched today in Singapore, a market that AIA has operated in for more than 80 years. AIA Vitality will combine AIA's brand, distribution and life insurance product leadership with Discovery's proprietary wellness- based expertise and experience. The joint venture will offer protection products that are designed to deliver better health and lower premium rates for AIA's customers. It will tailor the dynamic approach to the linking of wellness incentives to life and health insurance, first pioneered by Discovery in South Africa, to the Asia-Pacific region.



In light of the continued rise of non-communicable diseases around the world, including in the Asia-Pacific region, it is now clear that three lifestyle choices - smoking, poor nutrition, and poor physical activity - are responsible for more than 50 per cent of all mortality cases. Discovery's Vitality wellness programme is the international leader in creating sustained behavioural change to promote healthier ways of living. Integration of this programme into the life insurance market has been shown to not only drive improved rates of mortality and morbidity but also provide a dynamic premium rating system - the combined effect allows customers to improve their personal health while paying reduced premiums for high quality insurance.



The roll-out will commence in Singapore, and will offer participants discounts on their premiums as they achieve their personal health goals over time through maintaining a healthy lifestyle. In line with Vitality?s proprietary model, the programme is underpinned by a comprehensive network of well-known health, wellness and rewards partners. The intended result is a life insurance model which will have immediate financial and health benefits for participating policyholders, while enhancing sustainable value creation for AIA, and providing positive long-term benefits for the people, communities and countries in which AIA operates.



The investment to be made in AIA Vitality by Discovery is expected to fall within Discovery?s strategic framework of less than 5% of pre-tax profits for new business development.
07-Mar-2013
(Media Comment)
According to Finweek, Discovery anticipates growing its presence in Asia by rolling out its Life and Health products in other markets on the continent to supplement its extending footprint in China. The insurance group is also planning to offer its Life products in Africa, where the roll out of Discovery Health brand has been inhibited by lack of private hospital infrastructure. Adrian Gore, chief executive officer said that Asia presented a huge opportunity for the group in terms of its Life and Health businesses. He also suggested the entry into Asia will be "partner led" as the group has already done in China and the US.
21-Feb-2013
(C)
Net insurance premium revenue increased to R7.4 billion (2011: R6.4 billion). Profit from operations rose to R2 billion (2011: R1.7 billion), while profit attributable to ordinary shareholders went up to R1.2 billion (2011: R1.1 billion). Furthermore, headline earnings per share came in at 223.1 cents per share (2011: 185.5 cents per share).



B preference share cash dividend declaration

Notice is given that the directors have declared an interim gross cash dividend of 431.23288 cents (366.54795 cents net of dividend withholding tax) per B preference share for period 1 July 2012 to 31 December 2012.



Ordinary share cash dividend declaration

Notice is given that the directors have declared an interim gross cash dividend of 60 cents (51 cents net of dividend withholding tax) per ordinary share for the six month period ended 31 December 2012.



Prospects

The work over the past six months positions Discovery strongly for continued growth and profitability into the future.
13-Feb-2013
(Official Notice)
Discovery is currently finalising its results for the six month period ended 31 December 2012 ("current period"), which will be released on SENS on 21 February 2013. Shareholders are advised that headline earnings per share will be between 15% and 25% higher than that of the corresponding reporting period of the previous year ("corresponding period"), while earnings per share will be between 10% and 20% higher than the corresponding period.



In the current period, Discovery has continued, as in prior periods, to focus on the progression of normalised headline earnings that excludes the accounting impact of the Standard Life Healthcare acquisition and the accounting for the puttable non-controlling interest financial liability. Management is of the view that this best represents the underlying operating performance. normalised headline earnings per share will be between 15% and 25% higher than that of the corresponding period.
08-Feb-2013
(Permanent)
Discovery Holdings Ltd. renamed to Discovery Ltd. effective from 11 February 2013.
31-Jan-2013
(Official Notice)
Shareholders are referred to the announcement released on SENS on Tuesday, 4 December 2012 advising, inter alia, that the special resolution to approve the change of the Company's name from "Discovery Holdings Ltd." to "Discovery Ltd." was approved by the requisite majority of votes at the general meeting of shareholders ("the special resolution").



Shareholders are advised that the special resolution has been registered with the Companies and Intellectual Property Commission. There are no further conditions precedent outstanding. Accordingly, the salient dates for the name change, as announced on SENS on Tuesday, 6 November 2012, still apply. The Company will begin trading under the new name "Discovery Ltd." with effect from commencement of trade on Monday, 11 February 2013.
04-Dec-2012
(Official Notice)
Shareholders are advised that the special resolutions approving the change of the Company's name from Discovery Holdings Ltd. to Discovery Ltd. and the adoption of the Company?s Memorandum of Incorporation were passed by the requisite majority of votes at the general meeting held on 4 December 2012.
04-Dec-2012
(Official Notice)
At the thirteenth annual general meeting of the company held on 4 December 2012, ordinary resolutions 1 to 6 and special resolutions 1 to 3 were passed.



As per the notice of annual general meeting, with effect from 4 December 2012, Mr Vhonani Mufamadi retired from the Board of Directors ("the Board") as a non-executive director. Due to his pressing work commitments, Mr Mufamadi did not offer himself for re-election.
19-Nov-2012
(Media Comment)
According to Business Day, in 2013 Discovery plans to focus on building a framework to help monitor and report on the fair treatment of its cutovers, in line with the principals of the Treasury and the Financial Services Board. This framework is a valuable initiative for a medical insurer such as Discovery as medical costs and how medical schemes treat clients are sensitive issues. Discovery said it had made significant progress in the definition of fairness measures across all business in 2012. The group added that in 2013 it aims on embedding these measures and establishing a sound framework for monitoring and reporting.
16-Nov-2012
(Official Notice)
Shareholders are referred to the Company's annual report, which was posted to shareholders on 31 October 2012 (and specifically to page 169 thereof) and to its "no change statement", released on SENS on 1 November 2012. The last day to trade and the record date in order to be eligible to attend and vote at the Annual General Meeting ("AGM"), to be held at 13h30 on Tuesday, 4 December 2012, are reflected therein as Friday, 23 November 2012 and Friday, 30 November 2012 respectively.



The Company wished to align these dates with those reflected in its circular to shareholders dated Tuesday, 6 November 2012 in respect of the General Meeting (?GM?), to be held at the later of 14h00 or immediately following the conclusion of the AGM on Tuesday, 4 December 2012, to consider the Company's proposed change of name to Discovery Ltd. and the adoption of its new Memorandum of Incorporation. The salient dates in respect of the GM were published on SENS on Tuesday, 6 November 2012.



Shareholders are accordingly advised that the following dates apply equally to both the AGM and the GM:

* Last day to trade in order to be eligible to attend and vote at the AGM and at the GM on Friday, 16 November

* Record date to determine which shareholders are entitled to attend and vote at the AGM and at the GM on Friday, 23 November

* Last day to lodge forms of proxy with the transfer secretaries to vote at the AGM by 13h30 and to vote at the GM by 14h00 on Monday, 3 December

* AGM to be held at 13h30 and GM to be held at the later of either 14:00 or immediately following the conclusion of the AGM on Tuesday, 4 December

* Results of GM announcement released on SENS on Tuesday, 4 December.
12-Nov-2012
(Media Comment)
According to Business Day, Discovery?s life unit, the group's largest earnings contributor, is looking into ways of offering lower-cost products in South Africa to capitalise on the underinsurance gap. Discovery Life, PruProtect and Discovery Invest CEO, Herschel Mayers said the low income market was being considered as already provided in KeyCare (Discovery Health) which is a cost-effective cover for the low income market. He added that the company was looking to do the same for life insurance cover, disability, illness benefits and income protector.
06-Nov-2012
(Official Notice)
01-Nov-2012
(Official Notice)
Shareholders were advised that the annual financial statements have been distributed to shareholders on 31 October 2012 and contain no modifications to the audited results which were published on SENS on 5 September 2012.



Notice of the annual general meeting

Notice is given that the thirteenth annual general meeting of Discovery shareholders will be held at 13:30 on Tuesday 4 December 2012 in the Auditorium, Ground Floor, 155 West Street, Sandton to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on 19 October 2012 being the notice record date used to determine which shareholders are entitled to receive notice of the annual general meeting.



The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is 30 November 2012 being the voting record date used to determine which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be 23 November 2012. Proxy forms must be lodged by no later than 12:00 on Monday 3 December 2012. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.
19-Sep-2012
(Media Comment)
Business Day highlighted that Discovery has been awarded a R1 million rand incentive by the Nelson Mandela Bay Metropolitan Municipality for its work in opening a health service centre in the Coega development zone last November. The initiative has created 410 jobs in the region.
05-Sep-2012
(C)
Insurance premium revenue increased to R14.7 billion (2011: R12.5 billion). Net income rose to R19.9 billion (2011: R17.2 billion), while profit attributable to ordinary shareholders fell to R2.2 billion (2011: R2.6 billion). Furthermore, headline earnings per share jumped by 30% to 383.7cps (2011: 295.3cps).



Dividend

The board declared a final gross cash dividend of 53.5cps. Furthermore, the board declared a final gross cash dividend of 414.73973cpps for the B preference shares.



Prospects

The work done over the past financial year positions the Discovery Group strongly for continued growth and profitability into the future.
04-Sep-2012
(Official Notice)
Notice is given that the directors have declared a final gross cash dividend of 414.73973 cents (352.52877 cents net of dividend withholding tax) per B preference share for the period 1 January 2012 to 30 June 2012. The dividend has been declared from income reserves and no secondary tax on companies' credits has been used. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt. The issued share capital at the declaration date is 8 million B preference shares.



The salient dates for the dividend will be as follows:

* Last day of trade to receive a dividend : Friday, 14 September 2012

* Shares commence trading "ex" dividend : Monday, 17 September 2012

* Record date : Friday, 21 September 2012

* Payment date : Tuesday, 25 September 2012.
22-Aug-2012
(Official Notice)
Discovery is currently finalising its results for the year ended 30 June 2012 ("current period"), which will be released on SENS on or about 5 September 2012. In the year ended 30 June 2011 ("prior period"), transactions resulted in once-off accounting impacts in Discovery's results: Discovery acquired Standard Life Healthcare, increased its shareholding in PruHealth and PruProtect from 50% to 75%, and recaptured reinsurance in PruHealth. Discovery has continued, as in prior periods, to focus on the change of Normalised Headline Earnings that excludes these once-off accounting impacts. Management is of the view that this best represents the underlying operating performance.



Normalised Profit before tax is expected to be between 15% and 25% higher than that of the prior period. Discovery did not recognise a deferred tax asset on the losses of the new start up operations, notably Discovery Insure, in the current period. As a result, Normalised Headline Earnings per share is expected to be between 10% and 20% higher than that of the prior period. As a result of the once-off accounting impacts described above, the prior period Headline Earnings and Earnings were abnormally impacted and should not be used as a basis for direct comparison to the current period's results. Notwithstanding this, shareholders are advised that Headline Earnings per share is expected to be between 25% and 35% higher than that of the prior period, whilst Earnings per share is expected to be between 10% and 20% lower than the prior period.
10-May-2012
(Official Notice)
Holders of Discovery non-cumulative, non-participating, non-convertible preference shares ("Discovery B preference shares") are referred to the:

* abridged pre-listing statement dated 2 August 2011;

* terms and conditions of the B preference shares as set out in Article 53 of Discovery's Memorandum of Incorporation ("MOI");

* announcement, released on the SENS on 10 August 2011, dealing with the listing of Discovery B preference share dividends; and

* proposed amendments to the tax legislation regarding the changes to Secondary Tax on Companies ("STC") and the introduction of a dividend withholding tax on all dividend distributions by a company to its shareholders.



The impact of the change in the Income Tax Act is that STC has been abolished as at 31 March 2012 and that Dividend Withholding Tax has been introduced for dividends paid after 1 April 2012 at a rate of 15%, subject to certain exemptions. The board of Discovery has taken advice on the application of the provisions of Article 53 of Discovery's MOI, considered the fair and reasonable expectations of both the B preference shareholders and ordinary shareholders; and decided to increase the preference share dividend rate by a factor of 1 / (1 - 15%) or 17.6%. The board has therefore determined that, the dividend rate applicable to the B preference shares issued by Discovery will be calculated, with effect from 1 April 2012, at a rate of 100% (currently 85%) of FirstRand Bank Ltd.'s prime overdraft lending rate, as published from time to time ("prime"). The effect of this adjustment is that the preference share dividend accruing in respect of the B preference shares, for the period from 1 January 2012 to 30 June 2012, will be calculated at the original rate of 85% of prime until 31 March 2012, and at the increased dividend rate of 100% of prime with effect from 1 April 2012. The increased rate of 100% of prime shall apply for dividend periods applicable to the B preference shares occurring after 30 June 2012. In the event of Dividend Withholding Tax increasing beyond 15%, there will be no further upward adjustment to the preference share dividend rate.
04-May-2012
(Official Notice)
The following changes to remuneration sub-committee have been made, with immediate effect: Mr Monty Hilkowitz has resigned as the chairman of the remuneration committee ("committee") but will remain a member, and Mr Jannie Durand (non-executive) has been appointed as the chairman of the committee. Ms Tania Slabbert and Mr Mike Olivier have resigned as members of the committee. The committee now consist of Mr Jannie Durand (chairman), Mr Monty Hilkowitz and Mr Peter Cooper.
14-Mar-2012
(Official Notice)
At the end of March 2012, Alan Pollard, current CEO of Discovery Vitality in South Africa, will assume the leadership of Discovery?s US operations. Pollard will relocate to the US in mid 2012, and will retain his position as CEO of Vitality on an international basis. These moves serve to consolidate the US as a centre of excellence in the support of all Vitality International operations. Art Carlos will be leaving The Vitality Group (TVG), Discovery's standalone Vitality capability in the US. Carlos will continue to consult to Discovery to help ensure a smooth transition of leadership. Gidon Novick, former joint CEO of Comair, will join Discovery as CEO of Discovery Vitality in South Africa, replacing Pollard. Novick is a chartered accountant by training, and holds an MBA from the Kellogg School of Management in Chicago, USA. During his highly successful career at Comair, he founded Kulula, South Africa's first low-cost airline; and was instrumental in developing both the British Airways and Kulula offerings into leading travel brands. With his entrepreneurial experience, and having been involved with Vitality as a key partner for many years, Novick is well placed to assume leadership.
23-Feb-2012
(C)
Insurance premium revenue for the interim period shot up to R7.2 billion (2010: R6 billion). Net income grew to R9.6 billion (2010: R8.7 billion), but profit attributable to equity holders of the parent lowered to R1.1 billion (2010: R1.4 billion). Furthermore, headline earnings per share increased by 62% to 185.5cps (2010: 114.7cps).



Ordinary share cash dividend

The board has declared an interim dividend of 50cps.



Preference share cash dividend

The board has declared a dividend of 289.23cps.
15-Feb-2012
(Official Notice)
Discovery is currently finalising its results for the six month period ended 31 December 2011 ("current period"), which will be released on SENS on 23 February 2012. In the six month period ended 31 December 2010 ("prior period"), Discovery acquired Standard Life Healthcare, increased its shareholding in PruHealth and PruProtect from 50% to 75%, and recaptured reinsurance in PruHealth. These transactions resulted in one-off accounting impacts in Discovery?s results in the prior period. Discovery has continued, as in prior periods, to focus on the progression of Normalised Headline Earnings that excludes these one-off accounting impacts. Management is of the view that this best represents the underlying operating performance.



Normalised Headline Earnings per share is expected to be between 15% and 25% higher than that of the prior period. As a result of the one-off accounting impacts described above, the prior period Headline Earnings and Earnings were also abnormally impacted and should not be used as a basis for direct comparison to the current period?s results. Notwithstanding this, shareholders are advised that Headline Earnings per share is expected to be between 55% and 65% higher than that of the prior period, while Earnings per share is expected to be between 15% and 25% lower than the prior period. The financial information on which this trading statement is based has not been reviewed and reported on by the company's external auditors.

06-Dec-2011
(Official Notice)
At the twelfth (12th) annual general meeting of the shareholders of Discovery held today, 6 December 2011, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.

07-Nov-2011
(Official Notice)
No change statement

Shareholders are advised that the annual financial statements will be distributed to shareholders on 7 November 2011 and contain no modifications to the audited results which were published on SENS on 1 September 2011.

Notice of the annual general meeting

Notice is hereby given that the twelfth annual general meeting of shareholders will be held at 12:00 on 6 December 2011 in the Auditorium, Ground Floor, 155 West Street Sandton to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.



Salient dates

The notice of the company's annual general meeting has been sent to its shareholders who were recorded as such in the company's securities register on Friday 21 October 2011 being the notice record date set by the Board of the Company determining which shareholders are entitled to receive notice of the annual general meeting. The record date on which shareholders of the company must be registered as such in the company's securities register in order to attend and vote at the annual general meeting is Friday 2 December 2011 being the voting record date set by the board of the company determining which shareholders are entitled to attend and vote at the annual general meeting. The last day to trade in order to be entitled to vote at the annual general meeting will therefore be Friday 25 November 2011. Proxy forms must be lodged by no later than 12:00 on Monday 5 December 2011. Any forms of proxy not lodged by this time must be handed to the chairperson of the annual general meeting immediately prior to the annual general meeting.

01-Sep-2011
(C)
Insurance premium revenue jumped to R12.5 billion (R7.9 billion). Net income surged to R17.2 billion (R13.8 billion) and net attributable profit soared 50% to R2.6 billion (R1.7 billion). In addition, headline earnings per share grew by 6% to 295.3c (278.8cps).



Dividend

A final ordinary dividend of 48cps has been declared.



Outlook

The work done over the past financial year has ensured that Discovery is both well positioned and capitalised for continued growth and profitability into the future.
26-Aug-2011
(Official Notice)
Shareholders are advised of the appointment of Mr Jan Jonathan (Jannie) Durand as a non-executive director of Discovery, Discovery Health (Pty) Ltd, Discovery Life Ltd and Vitality Healthstyle (Pty) Ltd, with effect from 25 August 2011.
24-Aug-2011
(Official Notice)
Discovery is currently finalising its results for the year ended 30 June 2011, which will be released on 1 September 2011. Normalised headline earnings per share is expected to be between 25% and 35% higher than the corresponding reporting period of the previous year. Headline earnings per share, which includes some, but not all, of the impacts of the transaction and excludes realised gains, is expected to be between 0% and 10% higher than the corresponding reporting period of the previous year. Earnings per share, which includes all of the impacts of the transaction and realised gains, is expected to be between 45% and 55% higher than the corresponding reporting period of the previous year.
10-Aug-2011
(Official Notice)
The directors of Discovery wish to advise its shareholders of the results of the offer to investors via private placement, to subscribe for an issue of non-cumulative, non-participating, non-convertible preference shares ("B preference shares"), the terms of which were outlined in the abridged pre-listing statement dated 2 August 2011.



The investor response to the private placement has exceeded demand expectations, and in light of the diversification benefits offered by the B preference shares, together with the growth opportunities presently available to Discovery, the directors have elected to accept the applications received via such private placement and to issue B preference shares amounting to R800 million. Investors that participated via the private placement process have been advised of their full allocations.



Discovery will therefore issue 8 million B preference shares, denominated in South African rands, at an issue price of R100.00 each. The B preference shares will be listed on the JSE Securities Exchange South Africa under the abbreviated short name "DSY B PREF" with alpha code "DSBP" in the "Specialist Securities" - Preference Share sector of the market, and will commence trading on Monday, 15 August 2011.
05-Aug-2011
(Official Notice)
Shareholders are referred to the 2011 interim results for Prudential plc released today, which contains the following information in respect of Prudential Health Ltd ("PruHealth") and PruProtect. PruHealth and PruProtect are the joint ventures in the United Kingdom, owned by Discovery and Prudential plc. "PruHealth's sales of APE GBP4 million were 28 per cent below the same period last year, reflecting Prudential UK's reduced share, from 50 per cent to 25 per cent, of the expanded business following PruHealth's acquisition of Standard Life Healthcare. PruProtect's sales were up 20 per cent compared with 2010 on a like-for like basis."
02-Aug-2011
(Official Notice)
Discovery issued this pre-listing statement on Tuesday 2 August 2011, relating to listing of the B Preference Shares under the "Specialist Securities - Preference Shares" sector of the JSE. The information in this abridged pre-listing statement has been extracted from the pre- listing statement.



Details of the offer for subscription by way of a private placement Application will be made to the JSE on the closing date of the offer for subscription to list the B preference shares in the "Specialist Securities - Preference Shares" sector under the abbreviated name "DSY B PREF", with alpha code "DSBP" and ISIN number ZAE000158564, with effect from the commencement of business on or about Monday, 15 August 2011. The number of B Preference Shares to be listed will be determined on the closing date of the offer for subscription.



Times and dates of the opening and closing of the offer for subscription

* Opening date of the offer for subscription: Tuesday, 2 August 2011

* Closing date of the offer for subscription: Monday, 8 August 2011

* Proposed listing date: Monday, 15 August 2011

Any changes to these dates and times will be released on SENS and published in the press. Applications to subscribe for B Preference Shares in terms of the offer for subscription must be made in accordance with the application procedure set out in the Pre-listing Statement.



Conditions to the listing

The listing of the B Preference Shares is subject to:

* the requirements of the JSE in respect of the requisite spread of B Preference Shareholders, being a minimum of 50 public shareholders, being met;

* the minimum subscription size being met; and

* the filing with the Commission of the relevant resolution passed by Discovery shareholders at the general meeting held on 2 August 2011 to create the B Preference Shares.
02-Aug-2011
(Official Notice)
Shareholders are referred to the announcement released on SENS on 24 June 2011 and the circular posted to shareholders on the same day, incorporating a notice of general meeting and a form of proxy, regarding, inter alia, the following:

*the proposed amendments to the Memorandum of Incorporation ("MOI") of the company and authority to issue preference shares.

*the approval of the non-executive directors' remuneration for their services as directors; and

*the provision of financial assistance in terms of section 44 and 45 of the Companies Act 71 of 2008 (as amended).



Shareholders are advised that at the general meeting held on Tuesday, 2 August 2011, all the resolutions proposed were passed by the requisite majority of votes.
18-Jul-2011
(Official Notice)
Discovery announced the appointment of Anton Ossip as the new CEO of Discovery Insure. Ossip replaces Steffen Gilbert, who joined Discovery on a contract basis in September 2009 to specifically assist with the initial development and operationalisation of Discovery Insure, and has successfully guided the Discovery Insure team through the launch phase.



Gilbert will continue in a consulting role to Discovery Insure until 30 September 2011. Thereafter, he plans to return to Asia and given his knowledge of Discovery, plans to provide consulting services to Discovery's international businesses.
24-Jun-2011
(Official Notice)
24-Jun-2011
(Official Notice)
20-Jun-2011
(Official Notice)
Shareholders were advised of the appointment of Dr. Ayanda Ntsaluba as an executive director of Discovery Holdings, as well as a director of certain of Discovery's operating subsidiary companies, being Discovery Health, Discovery Life and Vitality Healthstyle, with effect from 1 July 2011.
19-May-2011
(Official Notice)
Discovery announced that it is set to revolutionise SA's short-term insurance market. Highlights include:

* Discovery leverages Vitality, its proven behavioural economics business model, and creates Discovery Insure, a strong competitor geared to shift the short-term value insurance landscape

* Discovery Insure to unlock value for consumers in the R50 billion South African short-term insurance market

* Discovery Insure utilises the science of measuring driving intelligence to reward good drivers with fuel rewards: clients can get up to 40% of their monthly fuel spend back

* Discovery now operates in the short-term, health and life insurance, long term savings and investments, wellness and credit card market.

Discovery Holdings advanced its strategy to leverage its unique business model and today launched Discovery Insure, a new player in the short-term insurance market.
18-Mar-2011
(Media Comment)
Finweek reported that just as Discovery's UK health insurance venture looks to be turning a corner it could suffer as the British economy struggles under the weight of consumer, state and corporate cutbacks. Competitor Bupa saw its profits decline by more than 70% in 2010 to GBP118 million. Discovery's PruHealth wrote 90% more new business in the six months to year-end 2010 than it did over the prior comparative period, and CEO Adrian Gore believes that the acquisition of Standard Life Healthcare gives the UK unit a firm basis from which to grow.
23-Feb-2011
(Media Comment)
Business Report highlighted that Discovery will grow its presence in the US through a joint venture with Humana, a US health-care group. Through this partnership, which was announced yesterday, Discovery will offer the wellness and loyalty programme to 3 million Humana lives as a start. The fourth largest health care company in the US has a total of 18 million members, and USD35 billion annual revenue. As part of the plan, the US firm will set up a new company to be known as Humana Vitality, in which Discovery will have a 25 percent shareholding. In addition Humana will buy 25 percent of Vitality Group, which is Discovery's US subsidiary.
22-Feb-2011
(Official Notice)
22-Feb-2011
(C)
16-Feb-2011
(Official Notice)
Discovery is currently finalising its results for the 6 months ended 31 December 2010 ("the period"), which will be released on 22 February 2011. Normalised Headline Earnings per share, which excludes the effects of the acquisition of Standard Life Healthcare and realised gains on available-for-sale financial instruments, is expected to be between 20% and 30% higher than the corresponding reporting period of the previous year. Management is of the view that this best represents the operating results for the period. Shareholders are referred to the announcement of 11 May 2010 wherein Discovery announced its acquisition of the entire share capital of Standard Life Healthcare, a wholly-owned subsidiary of the Standard Life Group, for R1.56bn (GBP138m), as well as the related increase in shareholding in Prudential Health Holdings Ltd ("PHHL"), the holding company of PruHealth and PruProtect, the joint ventures between Discovery and Prudential Assurance Company ("Prudential") of the United Kingdom("the Transaction").

Applying the requirements of IFRS3: Business Combinations to the Transaction results in several large impacts in the income statement of the Company, including the recording of a substantial profit on the increase in Discovery's shareholding in PHHL from 50% to 75%. Full details of these impacts will be provided with the results. In order to assist in understanding the results for the period, Discovery intends providing an indication of Normalised Headline Earnings. Normalised Headline Earnings is defined as Earnings excluding the impact of the Transaction and excluding realised gains on available-for-sale financial instruments. Headline Earnings per share which includes some, but not all, of the impacts of the Transaction and excludes realised gains, is expected to be between 10% and 20% lower than the corresponding reporting period of the previous year. Earnings per share which includes all of the impacts of the Transaction and realised gains, is expected to be between 65% and 75% higher than the corresponding reporting period of the previous year. The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.

30 Nov 2010 14:38:16
(Official Notice)
At the eleventh annual general meeting of the shareholders of Discovery held today, 30 November 2010, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolution will be lodged for registration with the Companies and Intellectual Property Registration Office in due course.
10 Nov 2010 09:04:21
(Official Notice)
Prudential Health Ltd ("PruHealth") and PruProtect are Discovery's joint ventures in the United Kingdom, owned by Discovery and Prudential plc. Shareholders are referred to the third quarter 2010 Interim Management statement for Prudential plc released today, which contains the following information in respect of PruHealth and PruProtect: Discovery SA announced the completion of the acquisition of Standard Life Healthcare and its combination with the PruHealth business. As part of the transaction, Prudential UK reduced its shareholding in the combined PruHealth and PruProtect businesses to 25 per cent and sales are included on a proportionate basis from 1 August 2010. Prudential UK's share of PruProtect sales was APE GBP14 million, an increase of 57 per cent over the corresponding period last year. PruHealth sales of APE GBP10 million were 6 per cent higher than 2009. At the end of September 2010 the combined Health business had approximately 700 000 lives insured.
05 Nov 2010 10:12:03
(Official Notice)
Shareholders are advised that the annual financial statements have been distributed to shareholders on 5 November 2010 and contain no modifications to the audited results which were published on SENS on 2 September 2010.



Notice of the annual general meeting

Notice was given that the eleventh annual general meeting of shareholders will be held in the Auditorium, Ground Floor, 155 West Street, Sandton on 30 November 2010 at 12:00 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
02 Sep 2010 12:07:31
(C)
Net income improved to R13.8 billion (2009: R9.2 billion) and operating profit grew by 36% to 2.5 billion (2009: R1.9 billion), while profit attributable to ordinary shareholders also increased to R1.7 billion (2009: R1.2 billion). Headline earnings per share was up by 24% to 278.8cps (2009: 224.7cps).



Dividend

A final dividend of 36 cents per ordinary share was declared



Prospects

The work done over the past financial year positions the Discovery Group strongly for continued growth and profitability into the future.
25 Aug 2010 16:43:05
(Official Notice)
Discovery is in the process of finalising its results for the year ended June 2010, which will be released on SENS on or about 2 September 2010. Headline earnings per share is expected to be between 20% to 30% higher than the corresponding reporting period, while earnings per share is expected to be between 35% to 45% higher than the corresponding reporting period of the previous year (2009: 224.7 cents and 219.9 cents respectively).
24 Aug 2010 10:57:50
(Official Notice)
Ping An Insurance (Group) Company of China Ltd (hereafter "Ping An" or "the Group", HKEX: 02318; SSE: 601318) announced today that South Africa's largest private health insurer Discovery (JSE: DSY; ISIN: ZAE000022331) and Ping An signed their agreement to enter into a partnership in Ping An Health Insurance company (hereafter "Ping An Health"), a subsidiary of Ping An, to jointly develop China's vast health insurance market. According to the agreement, Discovery will initially acquire 20% of Ping An Health.
17 Aug 2010 08:08:30
(Media Comment)
Business Day reported that, Discovery life yesterday reported an improvement in lapse rates in the life insurance business as budget-conscious clients kept policies active despite the tough economic climate. CEO Herschel Mayers told Business Day pressure on consumers had eased off, particularly during the past six months, mainly because of the positive effect of the low interest rates, which meant debt servicing costs had come down. There was therefore less pressure to cancel insurance policies or to suspend paying premiums as consumers now had extra cash to spare, he said. Lapse rates are a big issue in the industry and it can be a very expensive part of our business if we get it wrong. "One important reason why people lapse is the state of the economy and conditions of employment," Mr Mayers said.
12 Aug 2010 12:08:15
(Official Notice)
Shareholders are referred to the 2010 half year financial results for Prudential plc released today, 12 August 2010, which contains the following information in respect Prudential Health Ltd ("PruHealth") and PruProtect. PruHealth and PruProtect are the joint ventures in the United Kingdom, owned by Discovery and Prudential plc.



The PruHealth joint venture uses the Prudential brand and Discovery's expertise to build branded distribution in Health and Protection. In August 2010, Discovery announced the completion of the acquisition of Standard Life Healthcare and its combination with the PruHealth business. This acquisition was fully funded by Discovery and as a result, Prudential reduced its shareholding in the combined business from 50 per cent to 25 per cent with effect from 1 August 2010, the date of the acquisition. PruHealth currently has 220,000 lives insured, an increase of five per cent over the last year. PruProtect sales at APE GBP11 million were GBP5 million (98 per cent) up on the first half of 2009, supported by the launch of the "Essential" Plan in November 2009.
30 Jul 2010 15:21:43
(Official Notice)
Shareholders are referred to the announcement released on SENS on 11 May 2010, wherein shareholders were advised that Discovery had entered into an agreement to acquire the entire share capital of Standard Life Healthcare, a wholly-owned subsidiary of the Standard Life plc, for R1.56 billion (GBP138 million). The investment in Standard Life Healthcare was further contributed to PruHealth Holdings as a capital investment in order to increase Discovery's interest in both PruHealth and PruProtect from 50% to 75% ("the transaction"). PruHealth Holdings is the holding company of PruHealth and PruProtect, the joint ventures between Discovery and Prudential Assurance Company of the United Kingdom. Shareholders were advised that the conditions precedent to the transaction have been fulfilled. Accordingly, effective from 1 August 2010, Standard Life Healthcare will be a wholly-owned subsidiary of PruHealth Holdings Ltd and Discovery's interest in this enlarged group will increase from 50% to 75%.
14 Jul 2010 16:33:08
(Official Notice)
13 Jul 2010 08:47:15
(Media Comment)
Discovery CEO Adrian Gore was quoted in Business Day as saying that the group is looking for new opportunities in the US for its Vitality wellness product. After Discovery abandoned its failing US health insurance product Destiny Health in 2008, the company only kept a limited US presence through Vitality. However, with the Obama administration showing interest in using wellness programmes to contain burgeoning healthcare costs, Discovery is hoping its strategy of keeping a US foothold will pay off.
04 Jun 2010 15:05:29
(Official Notice)
Shareholders are advised that Hylton Kallner has been appointed to the board of Discovery with effect from 3 June 2010.
19 May 2010 09:09:26
(Media Comment)
According to Business Report, Discovery's new life business jumped 27% in 2009. New life business amounted to more than R1.6 billion and grew more than better-established competitors. This Discovery Life CE, Herschel Mayers, said the strong performance was due to the unit's strategy of integrating its products with those of the whole group.
17 May 2010 12:18:42
(Official Notice)
Prudential Health Limited ("PruHealth") and PruProtect are Discovery's joint ventures in the United Kingdom, owned equally by Discovery and Prudential plc. Shareholders are referred to the first quarter 2010 Interim Management statement for Prudential plc released today, which contains the following information in respect of PruHealth and PruProtect:

PruProtect sales continued to grow strongly, with APE sales in the first quarter of 2010 of GBP5 million, up 145 per cent on the same period last year. This represented a record quarterly performance for PruProtect. Growth continues in PruHealth, with APE sales up 12 per cent on the first quarter 2009. PruHealth now has more than 210,000 customers insured. This excludes trusts and "cost plus" lives, where PruHealth does not carry the insurance risk.

11 May 2010 11:36:21
(Official Notice)
11 May 2010 11:28:46
(Official Notice)
Withdrawal of cautionary

Further to the above, shareholders are advised that they no longer need to exercise caution when dealing in their Discovery securities.
11 May 2010 11:24:20
(Official Notice)
10 May 2010 17:52:49
(Official Notice)
Discovery shareholders are advised that the company has entered into discussions which, if successfully concluded, may have an effect on the price at which the company's securities trade. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a further announcement is made.
04 May 2010 09:06:23
(Media Comment)
Business Report noted that Discovery Health has been approached to enter a merger with Edcon medical scheme. Nothing has been finalised yet, but Discovery shareholders will have to vote on the proposal at the company's annual general meeting. Discovery Health already administers the scheme but is so far unwilling to comment on the proposed merger.
16 Apr 2010 14:56:26
(Official Notice)
Shareholders are advised of the following changes to the boards of Discovery Holdings and its operating subsidiary companies.

* Vhonani Mufamadi has been appointed as a non-executive director to the boards of Discovery Holdings, Discovery Health, Discovery Life and Discovery Vitality.

With effect from 15 April 2010, Dr Jonathan Broomberg, Hylton Kallner, and Dr Penny Thlabi have been appointed to the board of Discovery Health, while Hylton Kallner and Kenny Rabson have been appointed to the board of Discovery Life.
15 Apr 2010 10:35:04
(Media Comment)
Discovery Health, SA's biggest medical scheme, expects to save R100 million in the next five years by channelling patients to a network of private hospitals it has identified as the most efficient. The scheme had 32 300 members on Delta and aimed to get a fifth of it's members on to the network by 2014, said Discovery's chief actuary Emile Stipp.
24 Feb 2010 12:11:23
(C)
Net Income increased from R4.7 billion to R7.1 billion in 2009.Profit from operations increased to R1.2 billion (2008:R792 million). Profit attributable to ordinary shareholders increased to R829 million (R490 million). Headline earnings on a per share basis increased to 136.40cps (89.20cps).



Dividends per share

An interim dividend of 33 cps was declared for the period under review.



Prospects

The progress made and work done in all of Discovery's businesses, positions the group well for further growth.
10 Feb 2010 12:33:14
(Official Notice)
Discovery is currently finalising its results for the 6 months ended 31 December 2009, which will be released on 24 February 2010. Headline earnings per share is expected to be between 45% and 55% higher than the corresponding reporting period of the previous year, and earnings per share is expected to be between 60% and 70% higher than the corresponding reporting period of the previous year.
26 Jan 2010 12:03:43
(Official Notice)
Discovery announced changes to facilitate the expansion of its international businesses, such as the recently announced investment in China through Ping An Health, and in the management structure of its UK joint venture with Prudential plc, which encompasses PruHealth, the private medical insurer and PruProtect, the risk assurance specialist. Discovery believes these changes will enhance its ability to support the growth and expansion of its business internationally, streamline the operational infrastructure and service platforms supporting these businesses and further align its UK businesses to deliver improved efficiencies and products.



Discovery's joint ventures with Prudential plc, PruHealth and PruProtect, are currently respectively headed up by Shaun Matisonn, CEO of PruHealth, and Herschel Mayers, CEO of PruProtect. Changes announced will see closer alignment between the two companies under the leadership of Herschel Mayers, who will act as CEO of PruProtection, the holding company for both PruProtect and PruHealth. Herschel will further continue in his role as CEO of Discovery Life and Discovery Invest.



Over the past 12 months PruProtect has gained significant traction in the UK and Discovery has successfully completed the transfer of the back-office service and operational infrastructure that support the two UK businesses to its South African operations. The move to align the two businesses even more closely in the UK will ensure greater synergy and the ability to apply Discovery's integrated products in its operating market.
01 Dec 2009 13:11:44
(Official Notice)
At the annual general meeting of the shareholders of Discovery held, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The special resolutions will be lodged for registration with the companies and Intellectual Property Registration Office in due course.
01 Dec 2009 10:08:54
(Official Notice)
01 Dec 2009 08:21:23
(Official Notice)
Shareholders are advised that Discovery has entered into a non-binding term sheet dated 30 November 2009 with Ping An Insurance company of China, Ltd.Ping pursuant to which Discovery proposes to acquire up to a 24.99% share in its wholly-owned health insurance subsidiary, Ping An Health Insurance Co. of China Ltd.



Ping An Health will draw on Discovery's extensive health product Intellectual property, and risk management structures and expertise, and the Ping An group's comprehensive distribution network infrastructure and brand in the Chinese market.



The conclusion of the transaction is subject to agreement of legally binding documentation, following which it will be subject to various conditions precedents, including:

*Obtaining the requisite approval from the China Insurance Regulatory commission.

*Obtaining the requisite approval from the South African Reserve Bank.

06 Nov 2009 09:13:40
(Official Notice)
Shareholders are advised that the annual financial statements will be distributed to shareholders on or about 6 November 2009 and contain no modifications to the audited results which were published on SENS on 2 September 2009. Notice of the annual general meeting



Notice is hereby given that the tenth annual general meeting of shareholders will be held at the Auditorium, 155 West Street, Sandton on 1 December 2009 at 12:00 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
29 Oct 2009 08:09:30
(Media Comment)
Discovery's PruProtect life business in the UK may face a tougher time than its sister company PruHealth, according to the Financial Mail. Unlike PruHealth, PruProtect is in a sector that may not justify investing capital because prospects for group life cover in the UK are not good. However, the unit is focused on the individual market, in life cover, critical illness cover and income protection. PruProtect's business model is based on Discovery's local Vitality model and it has been able to tap into the one by established by PruHealth. Discovery CEO Adrian Gore says that PruProtect will do better than the group's US business because the venture has a well-established partner in Prudential.
28 Oct 2009 14:01:07
(Official Notice)
Shareholders are referred to the third quarter 2009 Interim Management statement for Prudential plc released on Wednesday, 28 October 2009, which contains the following information in respect of PruHealth and PruProtect. Prudential Health Ltd ("PruHealth") and PruProtect are Discovery's joint ventures in the United Kingdom, owned equally by Discovery and Prudential plc.
02 Oct 2009 09:58:09
(Media Comment)
Business Report noted that in contrast to other health insurance providers, Discovery Health does not see Africa as a potentially big money spinner. However, this did not mean that company was not looking to do business in the continent. Discovery Health's CE Neville Koopowitz said the company would look at making an acquisition in Africa and would make announcement before the end of 2009, but he added that "it will be very small and ... will never be a big part of the company." Rival, Liberty Health, already covers 500 000 lives in Africa.
18 Sep 2009 08:14:33
(Media Comment)
According to Business Report, experts expressed opposing views about Discovery Health's decision to raise its 2010 premiums by 9.8%, which is above the consumer inflation rate. Hylton Kallner, Discovery's chief marketing officer, said the increase was in line with the Council for Medical Schemes' guideline of consumer price inflation (CPI) plus three percentage points. Coronation portfolio manager, Neill Young, commented that one needed to look at medical inflation, and not CPI, because the latter was former higher than consumer inflation. In July 2009, CPI was 6.7%, as opposed to medical inflation of 10.9%.
02 Sep 2009 10:36:43
(C)
The performance of Discovery Holdings Ltd over the year has exceeded expectation, despite the difficult economic conditions and the environment's complexity. The period has been characterised by sound performances across all businesses, record levels of new business production, and strong earnings growth. The group reported headline earnings per share of 224.7c, an increase of 30.64% over to the HEPS of 172.0c for the previous year. The board has declared a final dividend of 33c per share.
13 Aug 2009 09:41:17
(Official Notice)
Shareholders are referred to the half year results for Prudential plc released today, which contains the following information in respect of PruHealth and PruProtect. Prudential Health Ltd and PruProtect are Discovery's joint ventures in the United Kingdom, owned equally by Discovery and Prudential plc.

22 Jul 2009 09:28:52
(Media Comment)
Discovery Health is to partner with ER24 to strengthen the capacity of its critical emergency services, reported Business Day. Three medicopters and three medicopter ground support vehicles will be added to ER24's emergency medical fleet.
15 Jul 2009 08:31:13
(Media Comment)
Business Day noted that new business at Discovery's life unit increased since the first half of the financial year. Discovery Life CEO Herschel Mayers commented that despite the difficult economic environment, business flows at the unit had grown.
26 Jun 2009 15:25:00
(Official Notice)
Richard Farber has been appointed as Financial Director to the board of Discovery Holdings Ltd, with effect from 1 July 2009. Richard Farber has been Chief Financial Officer of Discovery since September 2003.

18 May 2009 16:58:52
(Official Notice)
Discovery shareholders were advised of the outcome of the odd-lot offer and the specific share repurchase, both of which closed on Friday, 15 May 2009.



Discovery repurchased a total of 509 172 shares, representing 0.01% of the issued share capital of the company for a total consideration of R12 820 950.96. The number of shareholders was reduced by 9 595 representing 40% of the total number of shareholders.
14 May 2009 13:28:50
(Official Notice)
The PruHealth business continues to grow and as at 31st March 2009 covered 192,000 lives, up 25 per cent over the last year. New business annual premium income for the quarter is GBP4m in respect of fully insured groups and GBP4m in respect of trust business. The combined result of GBP8.0m was 8% up on the March 2008 quarter despite the harsh economic environment. Shareholders are advised further that during April 2009, PruHealth passed the 200 000 lives milestone.
07 May 2009 10:15:25
(Media Comment)
According to the Financial Mail, Discovery has finally, after eight years, met the statutory minimum solvency ratio of 25%. Nevertheless, Discovery's losses on its executive benefit option have worsened from R78.4 million in 2007, to R172 million for 2008. Together, the executive bonus option and the second highest claiming option, classic comprehensive, have pulled down the medical scheme by R770 million in two years.
30 Apr 2009 15:44:30
(Official Notice)
Discovery shareholders are hereby advised that the necessary special resolutions relating to the amendments to the articles of association of the company and specific authority to repurchase shares have been registered with the companies and intellectual property registration office. The odd-lot offer and specific share repurchase are now unconditional. Further announcements regarding the take up of the odd-lot offer and specific share repurchase will be made following the closing of the odd-lot offer and specific share repurchase on 15 May 2009.
23 Apr 2009 14:10:44
(Official Notice)
Discovery shareholders are hereby advised that the necessary special resolutions relating to the amendments to the articles of association of the company and specific authority to repurchase shares, and the ordinary resolution to make and implement the odd-lot and specific offers were approved by the requisite majorities at a general meeting of shareholders held on 23 April 2009. The special resolutions will be registered with the Companies and Intellectual Property Registration Office ("CIPRO") in due course. Further announcements regarding the take up of the odd-lot offer and specific share repurchase will be made following the closing of the odd-lot offer and specific share repurchase on 15 May 2009.
17 Apr 2009 13:19:49
(Official Notice)
Shareholders are referred to the circular to shareholders, dated 15 November 2005, relating to the Black Economic Empowerment transaction, which requires the BEE parties to utilise all distributions to acquire additional ordinary shares in Discovery in the market. Shareholders are accordingly advised of the following purchases of Discovery ordinary shares by one of Discovery's BEE partners, WDB Discovery Investments (Pty) Ltd:

*169,200 @ R24.2228 per share. value of transaction: R4 098 497.76 - 25 March 2009:

*273 @ R26.75 per share. value of transaction: R7 302.75 - 15 April 2009:
15 Apr 2009 14:29:29
(Official Notice)
Shareholders are referred to the circular dated 15 November 2005, relating to the Black Economic Empowerment ("BEE") transaction. Shareholders are also referred to the announcement on 1 December 2008 of the resignation of Judy Dlamini from the board of Discovery. Following Judy Dlamini's resignation as a director and in terms of the BEE agreement, Discovery Health (Pty) Ltd has repurchased 171 096 shares from Judy for a consideration of R171.09, which shares will be held now as treasury shares. Judy Dlamini through her investment vehicle, Newshelf 799 (Pty) Ltd retains the balance of the 200 000 shares originally issued in terms of the BEE agreement.
20 Mar 2009 13:45:06
(Official Notice)
19 Feb 2009 13:32:02
(C)
Turnover increased from R3.4 billion to R4.7 billion in 2008. Profit from operations R783 million (2007:R832 million). Profit attributable to ordinary shareholders from R538 million to R490 million. HEPS from 99.50cps to 89.3cps in 2008.



Dividends per share

An interim dividend of 25.5cps (2007:21.5cps) was declared for the period under review.



Prospects

Overall, Discovery's financial position is excellent: the group has no debt. Discovery Life covers its capital adequacy requirement by 6.4 times. The Discovery Health Medical Scheme's solvency reserves amount to more than R5.2 billion thereby exceeding the 25% statutory level, and in the UK, PruHealth covers its minimum capital requirements 2.2 times.
05 Dec 2008 11:15:36
(Official Notice)
At the ninth annual general meeting of the shareholders of Discovery held yesterday, 4 December 2008, all the ordinary resolutions and the special resolution proposed at the meeting were approved by the requisite majority of votes. The special resolution will be lodged for registration with the Companies and Intellectual Property Registration Office in due course.
01 Dec 2008 09:42:33
(Official Notice)
Dr Judy Dlamini has resigned as a non-executive director from the board of Discovery, with effect from 30 November 2008.
11 Nov 2008 14:03:01
(Official Notice)
With regard to the audited results for the year ended 30 June 2008, shareholders are advised that the annual financial statements will be distributed to shareholders today, 11 November 2008 and contain no modifications to the audited results which were released on SENS on 3 September 2008.



Notice of the annual general meeting

Notice was also given that the ninth annual general meeting of shareholders will be held in the auditorium, 155 West Street, Sandton, at 09:00 on 4 December 2008 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
03 Sep 2008 10:08:32
(C)
Operating profits for the year ending 30 June 2008 of established businesses - Discovery Health, Discovery Life, Vitality and PruHealth - increased by 39% to R1.8 billion. After the costs of launching Discovery Invest and PruProtect, and the wind-down costs of Destiny Health, operating profits increased by 13% to R1.3 billion. Annual recurring new business increased by 18% to R4.8 billion (excluding Destiny Health). The embedded value grew by 16% to R16.4 billion (despite an increase in the risk discount rate of 2.25% due to increasing interest rates). The quality of the businesses is clearly illustrated by positive experience variances of R728 million that arose during the year under review - a clear indication of performance exceeding expectation.



Dividends

A final dividend of 23 cents per share was declared.
30 Jul 2008 15:08:48
(Official Notice)
Discovery Invest announced that it has passed the R1 billion mark of assets under management. Discovery's investment business unit was launched in the fourth quarter of 2007, quickly gaining a significant 11% share of the discretionary Linked Investment Service Provider (LISP) market inflows for the quarter ended 31 March 2008.
17 Jun 2008 07:51:17
(Media Comment)
Discovery is still signing up 1 000 new clients a day to its medical aid business, according to Business Day. CE Adrian Gore said that he was "pretty optimistic" about what could be achieved during the current economic downturn. Gore also said that its new Discovery Invest unit was going well.
27 May 2008 08:28:01
(Media Comment)
The COO of PruHealth, the joint venture between Discovery and the UK's Prudential, Trent Rossini, was quoted in Business Day as saying that the venture has been so successful that it now covers more than 160 000 people. Rossini said this was achieved in less than four years of operation, and that he expected a solid showing in the coming months as the company grew and consolidated its market share.
26 Feb 2008 10:35:52
(Official Notice)
Shareholders are advised that the outcome of discussions regarding Discovery?s strategic review of Destiny Health, Discovery?s US subsidiary are included in the trading results for the six months ended 31 December 2007. Shareholders are accordingly, no longer required to continue exercising caution when dealing in the company?s securities.
26 Feb 2008 09:15:56
(C)
For the period under review, operating profit grew 31% before the impact of the BEE transaction to R843 million (2006: R645 million), while profit after tax rose by 34% to R541 million. Diluted headline earnings per share increased 14% to 74.9 cents (2006: 65.9 cents) and new business, excluding Destiny, grew by 12% to R2.19 billion (2006: R1.96 billion).



Dividends

An interim dividend of 21.5cps was declared.



Prospects

Discovery?s businesses remain well positioned for growth going forward without requiring additional capital.
14 Feb 2008 15:44:38
(Official Notice)
Further to the cautionary announcements released on SENS on 12 October 2007, 23 November 2007 and 4 January 2008, shareholders are advised that the company is still in discussions regarding its strategic review of Destiny Health, its US subsidiary. Accordingly, shareholders are advised to continue exercising caution when dealing in the company's securities until a full announcement is made. An update on developments will be provided with the results expected to be released on SENS on 26 February 2008.
14 Feb 2008 15:42:39
(Official Notice)
Discovery is currently finalising its results for the year ended 31 December 2007, which will be released on 26 February 2008. Earnings per share is expected to be between 25% and 45% higher than the corresponding reporting period of the previous year. Headline earnings per share is expected to be between 5% and 20% higher than the corresponding reporting period of the previous year, after accounting for the investments in Discovery Invest and in PruProtect, the life insurance joint venture between Discovery and Prudential in the UK, and excludes realised gains on shareholder funds. An update on developments at Destiny Health, Discovery's US subsidiary will be provided with the results on 26 February 2008. The financial information on which this trading statement is based has not been reviewed and reported on by the company's auditors.
27 Jul 2006 09:57:41
(Official Notice)
Shareholders are referred to an announcement by Discovery dated 21 February 2005, and are advised that Discovery Life has concluded the contract with Prudential Assurance Company Ltd ("Prudential Assurance"), a wholly owned subsidiary of Prudential plc, for the development and marketing of a new protection product in the United Kingdom. The product will be marketed under the Prudential brand. Prudential Assurance have begun initial marketing and roll-out of the product. Further details of the partnership with Prudential Assurance will be made available when Discovery announces its results for the year ended 30 June 2006 in early September. The partnership is not expected to have a material impact on Discoverys earnings in the short-term.
07 Jul 2006 15:20:58
(Official Notice)
Destiny Health and Tufts Health Plan today announced that they have agreed to end their alliance formed three years ago to offer a consumer-directed health plan in Massachusetts. The existing 10 000 members on the Liberty plan - the plan jointly marketed by Destiny Health and Tufts Health Plan - will continue through to the completion of their respective plan years, with no change in benefits, networks and service levels until December 2007. New business sales will cease with immediate effect.
30 Jun 2006 10:09:50
(Official Notice)
Shareholders are referred to the announcement released on SENS on 31 August 2004 relating to the issue of a total of 12 811 590 Discovery ordinary shares to certain employees effective 30 June 2004, over a three-year period, in terms of an authority obtained from shareholders at the annual general meeting held on 15 November 2001. The third and final tranche of 4 270 530 ordinary shares in Discovery have been issued on 30 June 2006 at an issue price of R12.57 per Discovery ordinary share, being the price determined as at 30 June 2004.
26 May 2006 09:01:03
(Official Notice)
Discovery Holdings today announced that Scott Spiker, CEO of its U.S. subsidiary Destiny Health, will leave the company in the next few weeks, and that a new management team will lead the organisation in delivering on its stated strategies for growth and expansion. Adrian Gore, CEO of Discovery Holdings, said that pending the selection of a new CEO, Destiny Health will be led by Barry Swartzberg, Executive Director and a founding member and former CEO of Discovery Health, and Arthur Carlos, Destiny Health's Chief Actuarial Officer. Carlos, a former senior executive at the U.S. employee benefits firm Aon Consulting, was recruited to the company in December.
23 Feb 2006 11:30:40
(C)
These are Discovery's first IFRS interim financial statements and the provisions of IFRS 1, First-time adoption of International Financial Reporting Standards, have been applied.



Operating profits for the group grew strongly by 32% during the period under review to R526 million (R399 million), despite a disappointing performance from Destiny Health and before the once-off expense associated with the recent BEE transaction. PruHealth grew strongly and in line with expectations, achieving the 35 000 client milestone as forecast. Discovery Health's annualised new business premium grew by 8%, off a high base, while Discovery Life achieved new business growth of 18% and a 29% increase in profit. Headline earnings in compliance with IFRS increased by 64%, excluding the impact of the BEE transaction. Unrealised gains of R155 million on available-for-sale investments for the six months have been taken directly to equity and are not included in earnings or headline earnings. Headline earnings per share after the BEE deal decreased by 17% to 28.8c (34.7c).



Dividend policy and capital

The directors have recommended that no dividend be paid on ordinary shares. The directors are of the view that the Discovery group is adequately capitalised at this time.



Prospects

All of Discovery's businesses are well positioned for strong growth going forward without requiring recourse to additional capital.
17 Feb 2006 09:09:02
(Official Notice)
Discovery advised, further to an announcement dated 8 December 05 on the effect of IFRS on the group's BEE transaction, that the original amount of R190 million has been reduced to a revised amount of R144 million which would be reflected as a charge in the income statement for the 6 months ended December 05.



Trading update

Shareholders were advised that earnings per share and headline earnings per share, after taking into account the IFRS impact of the BEE transaction, were expected to be between 0% and 20% lower than the corresponding reporting period of the previous year. Excluding the effects of the BEE transaction, earnings per share and headline earnings per share were expected to be between 60% and 70% higher than the corresponding reporting period of the previous year, driven by strong investment returns and a lower effective tax rate. Despite disappointing results from Destiny Health, operating profit before investment income and the effect of the IFRS adjustments, was expected to increase by between 15% and 20%, driven by strong local earnings.
08 Dec 2005 16:04:32
(Official Notice)
Shareholders are referred to the announcements on 13 September 2005 and 15 November 2005 and the circular to shareholders dated 15 November 2005 relating to Discovery's Black Economic Empowerment transaction. At the general meeting of the shareholders held on 8 December 2005, the requisite majority of shareholders approved all the ordinary and special resolutions relating to the BEE transaction, details of which were contained in the BEE circular. The special resolutions will be lodged for registration with the Registrar of Companies in due course. Save for the registration with the Registrar of Companies of the abovementioned special resolutions and certain special resolutions passed by Discovery's BEE partners, all other conditions precedent relating to the BEE transaction have been met and, accordingly, the BEE transaction will become effective upon the registration of such special resolutions.



Changes to the board of directors

Dr Thabane Vincent Maphai and Mrs Sonja Sebotsa have, pursuant to the BEE transaction, been appointed as non-executive directors to the board of Discovery, with effect from 8 December 2005.



The financial effects of implementing the BEE transaction are set out in the BEE circular. In particular, the IFRS impact of the BEE transaction is estimated to be R202 million in the year ending 30 June 2006, of which approximately R190 million will be charged to the income statement for the six months period ending 31 December 2005. Shareholders are advised that, as a result of the IFRS impact of the BEE transaction, earnings per share and headline earnings per share of Discovery will, for the 6 months period ending 31 December 2005, be impacted by this amount. It is currently premature to provide the percentage impact on earnings per share and headline earnings per share of Discovery for the 6 months period ending 31 December 2005 as the results have not yet been finalised. The forecast financial information on which this trading statement is based has not been reviewed and reported on by the company's auditors.
29 Nov 2005 17:30:52
(Official Notice)
Discovery is to implement a number of key changes to its senior management structure, effective from 1 January 2006. These changes reflect the growth of Discovery both within the existing businesses and due to the start-up of new ventures. Discovery is realigning its key senior people. The changes also include moves to modernise Discovery's leadership titles in line with international practice, for instance moving away from the title managing director to CEO in respect of Discovery's individual businesses. The following changes are being made:

*Barry Swartzberg, Managing director of Discovery Health, will move into Discovery Holdings as Executive Director. He will co-ordinate many of the group-wide functions including People and Finance, and will assist Discovery Holdings CEO Adrian Gore in co-ordinating and leading international operations.

*John Robertson, currently group wide COO, will move into Discovery Holdings as Group CIO and will also be responsible at a Holdings level for the infrastructural aspects of international operations.

*Neville Koopowitz, currently Group Marketing Director and Managing director of Vitality, will take over the leadership of Discovery Health, and will become the CEO of Discovery Health.
16 Nov 2005 16:11:52
(Official Notice)
No change statement

With regard to the audited results for the year ended 30 June 2005, shareholders are advised that the annual financial statements will be distributed to shareholders today, 16 November 2005 and contain no modifications to the audited results which were released on SENS on 13 September 2005.



Notice of the annual general meeting

The sixth annual general meeting of the shareholders of Discovery will be held in the Auditorium, Ground Floor, 155 West Street, Sandton, on Thursday, 8 December 2005 at 09:00 to transact the business as stated in the annual general meeting notice forming part of the annual financial statements.
15 Nov 2005 15:16:03
(Official Notice)
Further to the announcement dated 13 September 2005, the salient dates and times in respect of the BEE transaction are as follows:

*Last day to lodge form of proxy for the general meeting by 09:10 on Tuesday 6 December

*General meeting to be held at 09:10 or soon thereafter as the annual general meeting is finalised or adjourned on Thursday 8 December

*Results announcement released on SENS on Thursday 8 December

A circular providing full information on the BEE transaction which incorporates a notice of general meeting, will be posted to shareholders today.
28 Oct 2005 14:47:14
(Official Notice)
Discovery Health this week achieved two important milestones as part of its initiative to market its products to a wider spectrum of South Africans: It signed on its 100 000th KeyCare member and has entered into a joint venture with a black-owned brokerage firm.



The 100 000th member makes KeyCare, which was launched in 2003, the largest lower income offering in the medical scheme market to address the needs of the employed but uninsured market.



The joint venture is with PFM Financial Services (PFM), a firm of black financial intermediaries. PFM markets and distribute Discovery's product range nationally to a market that has historically not enjoyed access to financial products or sound financial advice.
26 Sep 2005 15:54:09
(Official Notice)
Shareholders are referred to the SENS announcement published on 13 September 2005 relating to Discovery`s BEE announcement. As set out in paragraph 5.5 of the BEE announcement, Discovery has a right, at the end of 10 years, to purchase from WDB Investments Holdings (Pty) Ltd, Dr Thabane Vincent Maphai, the Discovery Foundation and the black non-executive directors, such number of ordinary shares at 0.1cps as will be calculated with reference to a formula to provide Discovery with a notional return. Shareholders are advised that the weighted average notional return is approximately 0.84% (84 basis points) over the prime rate. A circular containing the full details of the transaction, including a notice of general meeting, will be posted to Discovery shareholders in due course.
13 Sep 2005 15:50:41
(Official Notice)
Discovery has reached agreement to conclude a Black Economic Empowerment transaction. pursuant to which shares equivalent to approximately 7.0% of Discovery`s current issued share capital (or 6.54% of the issued share capital post the proposed BEE transaction) will be allocated as follows:

*1.0% to Discovery employees and black non-executive directors;

*2.6% to the Discovery Foundation; and

*3.4% to BEE groups comprising a broad-base of historically disadvantaged individuals (`HDIs`).



The proposed BEE transaction has a value of approximately R831 million based on the 30-day volume weighted average price of a Discovery share to Friday, 9 September 2005 of R21.47. Due to the fact that Discovery holds significant offshore assets, the transaction represents approximately 7.7% of the value of Discovery`s South African operations. Discovery will issue to the BEE parties approximately 33 336 000 ordinary shares representing 6.0% of the current issued share capital of the company (or 5.6% of the issued share capital post the proposed BEE transaction) for a total consideration of R3.9 million. The difference between the market value of the ordinary shares of R715 million and subscription consideration of R3.9 million represents an outstanding funded amount provided by Discovery shareholders. The BEE parties will provide Discovery and its subsidiaries with a right to purchase, at the end of 10 years, such number of ordinary shares at 0.1cps as will provide Discovery with a notional return on this funded amount. The consideration will be paid by Discovery at the end of this 10-year period from available cash resources. In terms of an agreement entered into between Discovery and Dr Maphai, Dr Maphai will be nominated to join the board of Discovery as a non-executive director.



A circular containing the full details of the transaction, including a notice of general meeting, will be posted to Discovery shareholders in due course.
13 Sep 2005 15:43:14
(C)
The June 05 financial year was the most complex in the group`s history with a significant dual focus on new initiatives across multiple industries and geographies, as well as its existing businesses. New initiatives that commenced during the year include the launch of PruHealth in the UK, the launch of the DiscoveryCard, the commencement of a joint venture between Discovery Life and the Prudential plc in the UK, the entry of Discovery Life into the investment and retirement funding market, Destiny`s entry into the Washington DC market, the transitioning of Destiny`s back-office to South Africa, and the execution of a Black Economic Empowerment deal. Headline earnings increased by 32% to R536m (R405m), despite considerable start-up costs associated with the roll-out of PruHealth, its UK venture. Revenue rose to R4bn (R3.7bn) and net profit from operations increased by 11% to R786m (R708m) and net profit to shareholders climbed 40% to R585m (R418m). The directors have recommended that no dividend be paid.



Prospects

All of Discovery`s businesses are well positioned in the markets in which it operates. Given the year`s focus on new initiatives, the group is confident of strong growth going forward.
08 Sep 2005 09:58:46
(Media Comment)
Discovery told Business Day on 6 September 05 that its subsidiary Discovery Health would increase membership fees by around 7% on average in 2006.

30 Jun 2005 17:06:16
(Official Notice)
Shareholders are referred to the announcement released on SENS on 31 August 2004 relating to the issue of a total of 12 811 590 Discovery ordinary shares to certain employees effective 30 June 2004, over a three-year period, in terms of an authority obtained from shareholders at the annual general meeting held on 15 November 2001.



Shareholders are advised that the second tranche of 4 270 530 ordinary shares in Discovery have been issued on 30 June 2005 at an issue price of R12.57 per Discovery ordinary share, being the price determined as at 30 June 2004. The issue is pursuant to the redemption of the second tranche of 495 000 Discovery Life preference shares at a premium of R108.44 per preference share.

27 Jun 2005 10:27:17
(Media Comment)
Discovery`s share price fell 7.6% on 24 June 05. Business Report said the fall was due to the company issuing a trading statement in which the 25% profit increase was below analysts` expectations.
24 Jun 2005 10:22:27
(Official Notice)
Discovery shareholders are advised that the group`s headline earnings per share and earnings per share for the financial year ending 30 June 2005 are expected to exceed the comparative period by between 25% and 35%.
03 Jun 2005 11:27:28
(Media Comment)
Business Day noted on 3 June 05 that Global Credit Rating raised Discovery`s domestic claims paying abiltiy from AA- to AA.
02-Dec-2015
(X)


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