OUTsurance GROUP LIMITED - Sale of OUTvest

Sale of OUTvest

OUTSURANCE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2010/005770/06)
ISIN: ZAE000314084
Share code: OUT
(OGL)

SALE OF OUTVEST

Shareholders are referred to the announcement released on the Stock Exchange
News Service on 2 August 2023, where OGL advised shareholders that, following
a strategic review of OUTvest, the group decided to consider a restructuring
of OUTvest due to the sub-scale nature of this business.

OGL is pleased to announce that OUTsurance Holdings Limited (OHL), OGL's 89.8%-
held subsidiary, has concluded an agreement with Alexander Forbes Group
Holdings Limited (Alexforbes) to acquire 100% of OUTvest, subject to certain
conditions precedent which include regulatory approvals. OUTvest is a wholly
owned subsidiary of OHL.

Alexforbes, which is listed on the Johannesburg Stock Exchange, has a strong
track record in the South African investment landscape. OGL is confident that
a business of this stature will be a good fit for the OUTvest investment
platform to ensure its full potential is realised. Should the necessary
regulatory approvals be obtained and commercial conditions precedent be
fulfilled, OUTvest and Alexforbes will collaborate to ensure a seamless
transition and minimal disruption for customers, employees and suppliers of
OUTvest.

The transaction falls below the threshold for categorisation in terms of the
JSE Limited Listings Requirements and therefore this is a voluntary
announcement provided for information purposes only.


Centurion
8 November 2023

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

Date: 08-11-2023 03:31:00
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