SYGNIA LIMITED - Acquisition by Sygnia Limited

Acquisition by Sygnia Limited

SYGNIA LIMITED
Incorporated in the Republic of South Africa
Registration number: 2007/025416/06
Share Code: SYG
ISIN: ZAE000208815
(“Sygnia” or “the company”)


VOLUNTARY ANNOUNCEMENT – ACQUISITION BY SYGNIA LIMITED


Shareholders are advised that Sygnia has made an offer to purchase the entire issued share
capital of Gallet Group Employee Benefits Proprietary Limited (“Gallet”) from the
shareholders of Gallet, being AEM Beck, CS Beck, The BC 1949 Trust, NA Karani-Desbois
and JL Simpson (“the acquisition”). The acquisition is subject to the fulfilment of conditions
precedent, as well as obtaining the required regulatory approvals.

Gallet is an authorised financial services provider that focuses primarily on the provision of
employee benefit consulting, payroll services and liability administration to South African
retirement funds. In addition, Gallet is a sponsor, consultant and administrator of the
Setshaba Pension and Provident Funds, a well-established umbrella fund solution. As at 31
December 2015 Gallet had R5 billion in assets under advice and administration.

The acquisition of Gallet facilitates Sygnia offering umbrella fund services, as per its stated
strategic objective. Sygnia can leverage off Gallet’s administration systems, processes and a
highly experienced team to offer umbrella fund services to the retirement fund market much
more quickly. Sygnia has provided investment administration and asset management services
to some of Gallet’s clients, including the Setshaba Funds, since 2008 and the systems and
processes of the two companies are already integrated. It is the intention of Sygnia to rebrand
the Setshaba Funds to the Sygnia Umbrella Retirement Fund as soon as the acquisition
becomes effective and regulatory approval has been obtained.

Although the acquisition falls below the threshold of the categorisation of transactions which
require disclosure in terms of the JSE’s Listings Requirements, the board of Sygnia
nevertheless deems it appropriate to inform shareholders of the acquisition.

The effective date of the acquisition is 1 March 2016 or alternatively the date on which the
last condition precedent is fulfilled.

1 February 2016

Sponsor
Nedbank Corporate and Investment Banking

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