SANTAM LIMITED - BISAN - Notification of an Update to the ZAR 4 000 000 000 Unsecured Subordinated Callable Note Programme

BISAN - Notification of an Update to the ZAR 4 000 000 000 Unsecured Subordinated Callable Note Programme

SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
Company code: BISAN
(“Santam” or “the Issuer”)

NOTIFICATION OF AN UPDATE TO THE ZAR 4 000 000 000 UNSECURED SUBORDINATED CALLABLE NOTE PROGRAMME

Santam has received approval from the JSE Limited regarding its amended and restated
ZAR 4 000 000 000 Unsecured Subordinated Callable Note Programme (“the Programme”). A
summary of the changes effected is provided below:

•   Amendments to the terms and conditions to cater for amendments to the JSE Debt Listings
    Requirements (the “Requirements”), which includes but is not limited to, amendments to cater
    for the Part 1A of 2018 amendments to the Requirements and for paragraphs 7.26 and 7.27 of the
    Requirements;
•   Amendments to cater for changes to Strate Proprietary Limited’s Rules;
•   Amendments to the pro forma applicable pricing supplement (“APS”) to cater for amendments to
    the Requirements;
•   The removal and insertion of definitions to give effect to the amendments;
•   Amendments to the Investor Considerations and Risk Factors section;
•   Amendments to the Description of the Issuer section, including amendments to description of the
    Issuer’s business, directors of the Issuer and corporate governance;
•   The Subscription and Sale section has been updated to reflect the selling restrictions applicable as
    at the date of the Programme;
•   The South African Taxation section has been updated to reflect the legislation applicable as at the
    date of the Programme; and
•   Other technical changes.

The updated Programme is available for inspection at the registered office of the Issuer and has been
made available for inspection on their website, http://www.santam.co.za/financial/subordinated-
debt-programme/.

The updated Programme will also be available for inspection on the JSE Limited website,
www.jse.co.za.


13 December 2018

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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