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SLM - Sanlam Limited - Trading statement

Release Date: 11/02/2010 14:00
Code(s): SLM
Wrap Text

SLM - Sanlam Limited - Trading statement 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" or the "Sanlam Group") Trading Statement In terms of the JSE Limited Listings Requirements a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period will differ by at least 20% from that reported for the previous corresponding period. Despite the impact of the adverse economic conditions in 2009 the Sanlam Group achieved satisfactory operating results for the year to 31 December 2009. Growth in Core Earnings per share is expected to be approximately in line with the -2% reported for the six months to June 2009. The 29% increase in the JSE All Share Index during 2009 had a positive impact on the level of investment return achieved for the year. Sanlam`s Headline Earnings per share, including the IFRS impact of Sanlam shares held by the policyholders` funds, are expected to be between 60% and 70% higher than for the corresponding period in 2008. Normalised Headline Earnings per share are expected to be between 130% and 140% higher. The percentage increase in Normalised Headline Earnings per share is lower than that reported in the Operational Update issued early in December 2009 in respect of the ten months to October 2009. This is due to the lower relative investment market performance in the last two months of the year compared to the same period in 2008. The information in this trading statement has not been reviewed or reported on by Sanlam`s auditors. The audited results for the year ended 31 December 2009 are expected to be announced on 11 March 2010. Bellville 11 February 2010 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 11/02/2010 14:00:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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