SANTAM LIMITED - BISAN - Appointment of Santam Chief Executive and Operational Update

BISAN - Appointment of Santam Chief Executive and Operational Update

SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
Company code: BISAN
(“Santam”, “Santam Group” or the “Company”)


APPOINTMENT OF SANTAM CHIEF EXECUTIVE AND OPERATIONAL UPDATE

APPOINTMENT OF SANTAM CHIEF EXECUTIVE

Noteholders are advised that the board of Directors (“Board”) of Santam is pleased to announce
the appointment of Tavaziva (“Tava”) Madzinga to succeed Lizé Lambrechts as the Santam Group Chief
Executive. He will be appointed as an Executive Director to the Board with effect from 1 April 2022
and Chief Executive with effect from 1 July 2022. Tava joins Santam from Britam Holdings, a diversified
investment business listed on the Nairobi Securities Exchange, where he was the Group Managing
Director. His appointment was approved by the Board as well as the Prudential Authority in South
Africa. The Board confirms that Tava’s appointment was made in accordance with the Santam policy
for selection and appointment of directors.

Tava is a qualified actuary who has worked in the insurance and broader financial services sector
spanning life, non-life, asset management and banking for the last 20 years. He has worked primarily
in South Africa and Sub-Saharan Africa, in both technical and business leadership roles at country and
regional level. After more than 16 years at Old Mutual, he joined Swiss Re for four years, initially as
Chief Executive for the Middle East and Africa and later Chief Executive for the UK and Ireland, based
in London.

Lizé advised the board in June 2021 of her intention to formally retire during the course of 2022. She
will remain in her role as Chief Executive until 30 June 2022 to facilitate a smooth transition to Tava.

Commenting on the appointment of Tava, the Chair of the Board, Pinky Moholi said: “Tava comes with
excellent insurance experience and business credentials. He will be joining a strong executive team
and we are looking forward to his contribution”.

OPERATIONAL UPDATE

Noteholders are referred to the announcement released by the Company on SENS today, in
relation to an operational update to securityholders on the business performance of the
Santam Group for the ten months ended 31 October 2021 (the “Operational Update
Announcement”).

The Operational Update Announcement provided a review of the performance of the various
businesses in the Santam Group for the period mentioned above. In addition, it notified
securityholders of an investor conference call that will be taking place on 1 December 2021.
Noteholders are advised to refer to the Operational Update Announcement for further details
in this regard.


1 December 2021

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 01-12-2021 02:02:00
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