Sharenet Sites 
Sharenet Sites
BISAN - Notice to Noteholders regarding a Proposed Acquisition of an Additional Interest in Saham Assurance Maroc
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1918/001680/06
Company code: BISAN
(“Santam” or the “Issuer”)
NOTICE TO NOTEHOLDERS REGARDING THE PROPOSED ACQUISITION OF AN ADDITIONAL 22.8%
INTEREST IN SAHAM ASSURANCE MAROC
Noteholders are referred to the announcement released by the Issuer on the Stock Exchange
News Service of the JSE Limited on 3 May 2021, in relation to the proposed acquisition of an
additional 22.8% interest in Saham Assurance Maroc (the “Acquisition Announcement”).
The Acquisition Announcement stated that SAN JV (RF) Proprietary Limited (“SAN JV”), a
subsidiary of Sanlam Limited (“Sanlam”), in which the Issuer is a co-investor alongside Sanlam,
will increase its direct and indirect stake in Saham Maroc to 84.5% by acquiring 22.8% of the
issued shares of Saham Maroc from Mr Said Alj, including from two entities related to Mr Alj,
Sanam Holdings S.A and First Commercial Estate Company S.A.R.L (the “Transaction”).
Noteholders are advised that Santam is supportive of the Transaction and will confirm the extent of
its participation following its board meeting in September 2021.
Noteholders are advised to refer to the Acquisition Announcement for further details with regard to
the Transaction.
3 May 2021
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03-05-2021 11:01:00
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.
