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SANLAM LIMITED/UBUNTU-BOTHO INVESTMENTS - ANNOUNCEMENT

Release Date: 13/04/2004 15:00
Code(s): SLM
Wrap Text

SANLAM LIMITED/UBUNTU-BOTHO INVESTMENTS - ANNOUNCEMENT Sanlam Limited Ubuntu-Botho Investments (Incorporated in the Republic of South Africa) (Proprietary) Limited (Registration number 1959/001562/06) (Registration number 2004/002569/07) Share code : SLM ISIN : ZAE000028262 ("Sanlam" or "the Company") - FULFILLMENT OF SUSPENSIVE CONDITIONS; AND - LISTING OF NEW SANLAM SHARES - - 1. INTRODUCTION Shareholders of Sanlam are referred to the Sanlam results of general meeting and issue of shares for cash announcement dated 2 April 2004 in connection with an empowerment transaction that would result in Ubuntu-Botho Investments (Proprietary) Limited ("Ubuntu-Botho") acquiring an initial effective 10% which may increase to a maximum of 12% of the issued share capital of Sanlam ("the transaction"). 2. FULFILLMENT OF SUSPENSIVE CONDITIONS AND LISTING OF NEW SANLAM SHARES Sanlam shareholders are advised that all suspensive conditions to the transaction have been fulfilled and that the transaction has closed. The conditional appointment of the three directors nominated by Ubuntu-Botho to the Sanlam board, Mr Patrice Motsepe, Dr Rejoice Vakashile Simelane and Mr Bernard Swanepoel, has therefore also become effective. Sanlam shareholders are further advised that the 113.0 million new Sanlam ordinary, which were allotted and issued to Ubuntu-Botho as part of the transaction have been listed on the JSE Securities Exchange, South Africa. Cape Town 13 April 2004 Financial adviser and transactional sponsor to Sanlam Limited Deutsche Securities Attorneys to Sanlam Limited Jowell Glyn & Marais Reporting accountants to Sanlam Limited PricewaterhouseCoopers Ernst & Young Independent adviser to Sanlam Limited Rand Merchant Bank Attorneys to the Sanlam Demutualisation Trust Jan S. De Villiers Financial adviser to Ubuntu-Botho Investments (Proprietary) Limited JPMorgan Attorneys to Ubuntu-Botho Investments (Proprietary) Limited Bowman Gilfillan Date: 13/04/2004 03:00:04 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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