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GENSEC / SANLAM - FURTHER CAUTIONARY ANNOUNCEMENT

Release Date: 30/10/2000 10:02
Code(s): GSC SLM
Wrap Text
GENBEL SECURITIES LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1977/002124/06)
("GENSEC")
SANLAM LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1959/001562/06)
("SANLAM")
FURTHER CAUTIONARY ANNOUNCEMENT

SHAREHOLDERS OF GENSEC AND SANLAM ("SHAREHOLDERS") WERE ADVISED IN JOINT CAUTIONARY ANNOUNCEMENTS PUBLISHED ON 17 AUGUST 2000 AND 14 SEPTEMBER 2000 THAT SANLAM IS, SUBJECT TO THE FINALISATION OF CERTAIN PRE-CONDITIONS (THE
"PRE-CONDITIONS"), CONSIDERING MAKING AN OFFER TO PURCHASE ALL OF THE SHARES IN GENSEC THAT IT DOES NOT ALREADY OWN.
SHAREHOLDERS ARE ADVISED THAT THESE PRE-CONDITIONS, INCLUDING OBTAINING THE REQUISITE REGULATORY APPROVAL FROM THE MINISTER OF FINANCE, HAVE NOT YET BEEN MET. ACCORDINGLY, SHAREHOLDERS SHOULD CONTINUE TO EXERCISE CAUTION IN THEIR DEALINGS IN GENSEC AND SANLAM SHARES. JOHANNESBURG AND BELLVILLE 30 OCTOBER 2000 FINANCIAL ADVISORS TO GENSEC MORGAN STANLEY SOUTH AFRICA (PROPRIETARY) LIMITED (REGISTRATION NUMBER 1994/000261/07) FINANCIAL ADVISOR TO SANLAM CHASE (REGISTRATION NUMBER 1995/011812/06) JOINT LEGAL ADVISORS TO SANLAM JOWELL, GLYN & MARAIS INC (REGISTRATION NUMBER 1990/000849/21) CANCA INCORPORATED (REGISTRATION NUMBER 1996/006459/21) LEGAL ADVISORS TO GENSEC WEBBER WENTZEL BOWENS

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