Wrap Text
SANLAM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1959/001562/06)
("Sanlam")
Surrender of share certificates in respect of Sanlam shares ("share
certificates") in exchange for a share statement under the Share Transfer and
Replacement Programme ("STAR")
This announcement does not apply to those Sanlam shareholders who hold their
Sanlam ordinary shares ("Sanlam shares") through Sanlam Share Account
(Proprietary) Limited in the case of companies and individuals, and through
Sanlam Fundshare Nominee (Proprietary) Limited in the case of funds and schemes
Introduction
The board of directors of Sanlam ("the board") has considered the implications
of the forthcoming implementation of Share Transactions Totally Electronic
("STRATE") on the holders of Sanlam shares ("Sanlam shareholders"). The board
is of the opinion that it would be in the interests of Sanlam shareholders to
anticipate STRATE by participating in STAR, a service offered by Mercantile
Bank Limited in order to assist issuers and shareholders to validate listed
shares prior to their admission to STRATE.
STRATE, which will be managed by STRATE Limited, is an electronic settlement
environment that provides for transactions to be settled and transfer of
ownership to be recorded electronically. The primary objective of STRATE is to
eliminate the many risks inherent in the current method of clearing and
settling transactions executed on the JSE Securities Exchange South Africa
("JSE") to the benefit of all users on the JSE.
A circular in this regard was posted to Sanlam-shareholders today ("the
circular").
Sanlam shareholders in South Africa
Sanlam shareholders will be required to surrender their existing share
certificates under cover of the surrender and share transfer form contained in
the circular, to Mercantile Registrars Limited, 10th Floor, 11 Diagonal Street,
Johannesburg, 2001 (Private Bag X105, Marshalltown, 2107), by no later than
16:00 on Friday, 2 March 2001. This will allow their share certificates to be
verified and exchanged for a statement reflecting electronic record of
ownership of immobilised physical scrip previously held by such Sanlam
shareholders ("share statement").
Sanlam shareholders in Namibia
Sanlam shareholders in Namibia will also be required to surrender their share
certificates under cover of the surrender and share transfer form contained in
the circular, to Transfer Secretaries (Proprietary) Limited, Shop No. 12,
Kaiser Krone Centre, Post Street Mall, Windhoek, Namibia (PO Box 2401,
Windhoek, Namibia) or directly to Mercantile Registrars Limited, 10th Floor, 11
Diagonal Street, Johannesburg, 2001 (Private Bag X105, Marshalltown, 2107), by
no later than 16:00 on Friday, 2 March 2001, in order for their share
certificates to be verified and exchanged for a share statement.
It is recommended that Sanlam shareholders surrender their share certificates
under cover of the surrender and share transfer form by registered post.
Sanlam shareholders who do not wish to participate in STAR must submit written
applications in any legible form, together with their share certificates, to
Mercantile Registrars Limited for validated new share certificates which will
be overprinted with the words: "This certificate has been issued under the
Mercantile STAR Programme".
ALL EXISTING SHARE CERTIFICATES WILL CEASE TO BE GOOD FOR DELIVERY FOR
TRANSACTIONS ENTERED INTO ON THE JSE AND THE NAMIBIAN STOCK EXCHANGE AFTER THE
CLOSE OF BUSINESS ON FRIDAY, 2 MARCH 2001. A notice to this effect, together
with a second surrender and share transfer form, will be sent to those Sanlam
shareholders who have not surrendered their share certificates by 16:00 on
Friday, 2 March 2001.
Share statements or new share certificates (as the case may be) will be posted
to Sanlam shareholders, at their risk, by ordinary post or registered post,
respectively, on Monday, 5 March 2001, if the existing share certificate
together with the surrender and share transfer form contained in the circular
is received by Mercantile Registrars Limited on or before Friday, 2 March 2001,
or if received after Friday, 2 March 2001, within five business days of receipt
Bellville
2 February 2001
Corporate law advisers and consultants
Jan S. de Villiers Attorneys
Custodian
Sanlam Share Account (Proprietary) Limited
Transfer secretaries in South Africa
Mercantile Registrars Limited
Reg. No. 1987/003382/06
Sponsor in South Africa
JP Morgan
Receiving agent in Namibia
Transfer Secretaries (Pty) Ltd
Sponsoring broker in Namibia
JP Morgan
Herbert Maier
Trading as Fleming Martin Securities Limited
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