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ALEXANDER FORBES PREF SHARE INV LTD - Announcement regarding the implementation of the disposal of Guardrisk by Alexander Forbes

Release Date: 03/03/2014 08:10
Code(s): AFP     PDF:  
Wrap Text
Announcement regarding the implementation of the disposal of Guardrisk by Alexander Forbes

Alexander Forbes Preference Share Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/031561/06)
ISIN: ZAE000098067
Share Code: AFP
(“AF Pref”)


ANNOUNCEMENT REGARDING THE IMPLEMENTATION OF THE DISPOSAL OF GUARDRISK
BY ALEXANDER FORBES

AF Pref linked unitholders (“Linked Unitholders”) are referred to the terms announcement released on
the Stock Exchange News Service on 4 November 2013 wherein Linked Unitholders were advised
that sale and purchase agreements (“Agreements”) had been concluded in terms of which, Alexander
Forbes Equity Holdings Proprietary Limited (“Alexander Forbes”) would dispose of its effective 100%
interest in the Guardrisk group and its associate, Euroguard Insurance Company PCC Limited
(collectively referred to herein as “Guardrisk”) to MMI Holdings Limited, subject to the fulfillment or
waiver of certain conditions precedent set out in the Agreements (“the Transaction”).
Linked Unitholders are hereby advised that all conditions precedent to the Transaction have been
either fulfilled or waived and accordingly the Agreements are now effective. The effective date of the
Transaction will be 3 March 2014.

Sandton
3 March 2014

Joint Financial Advisers to Alexander Forbes and AF Pref
Deutsche Bank
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Legal Advisers to Alexander Forbes
Bowman Gilfillan Inc.
Edward Nathan Sonnenbergs Inc.

Sponsor to AF Pref
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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