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Santam/ Sanlam - Joint Cautionary Announcement

Release Date: 23/08/2006 15:01
Code(s): SNT SLM
Wrap Text

Santam/ Sanlam - Joint Cautionary Announcement SANTAM LIMITED (Incorporated in the Republic of South Africa) (Registration number 1918/001680/06 JSE Share code: SNT NSX share code: SNM ISIN number: ZAE000006854 ("Santam") SANLAM LIMITED (Incorporated in the Republic of South Africa) (Registration number 1959/001562/06) JSE share code: SLM NSX share code: SLA ISIN number: ZAE000070660 ("Sanlam") JOINT CAUTIONARY ANNOUNCEMENT The shareholders of Sanlam and Santam are advised that the boards of directors of the respective companies are currently engaged in discussions that may or may not lead to Sanlam making an offer to acquire all of the issued ordinary shares of Santam that it does not already own ("the Potential Offer"). The board of directors of Santam has formed an independent sub-committee (the "Independent Committee") whose main responsibilities will be to ensure appropriate governance throughout any ensuing processes and to consider the Potential Offer. The Independent Committee is also in the process of appointing independent advisors to assist it in its tasks and to provide it with advice as may be required with regards to the Potential Offer. Further announcements regarding the discussions will be made by Sanlam and Santam in due course. Accordingly, Sanlam and Santam shareholders are advised to exercise caution when dealing in their shares until such announcements have been made. Bellville 23 August 2006 Sponsor to Sanlam JP Morgan Equities Ltd Sponsor to Santam Investec Bank Limited Date: 23/08/2006 03:01:02 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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