NSX - SLM - Sanlam - Result Of General Meeting Rel
SLM
SLM
NSX - SLM - Sanlam - Result Of General Meeting Relating To The Voluntary
Tender Offer
Sanlam Limited
Incorporated in the Republic of South Africa
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
("Sanlam")
RESULT OF GENERAL MEETING RELATING TO THE VOLUNTARY TENDER OFFER
1. INTRODUCTION
Sanlam shareholders are referred to the Sanlam circular dated 2 April 2007
("the circular") detailing a voluntary tender offer by Sanlam, through the
Sanlam subsidiary, to repurchase in terms of sections 85 to 89 (both
inclusive) of the Companies Act No 61 of 1973, as amended, up to a maximum
of 125 million Sanlam ordinary shares (representing 5.4% of Sanlam`s
current issued ordinary shares), from all Sanlam ordinary shareholders at a
strike price determined in the manner set out in the circular, in a price
range of R17.00 to R21.00 (both inclusive) per Sanlam ordinary share in
increments of R0.50 per Sanlam ordinary share, starting from the minimum
price.
2. RESULT OF THE GENERAL MEETING
At the general meeting of Sanlam shareholders held on Tuesday, 24 April
2007 the special resolution and the ordinary resolution relating to the
specific repurchase were passed without modification by a majority in
number representing 97.9% and 97.3% respectively, of the votes exercisable
by Sanlam shareholders present and voting at the general meeting in person
or by proxy.
3. FULFILLMENT OF SUSPENSIVE CONDITIONS
The registration of the special resolution authorising the specific
repurchase with the Registrar of Companies will result in the last
suspensive condition to render the voluntary tender offer unconditional,
being fulfilled. The expected date of such registration is Wednesday, 25
April 2007. A further announcement confirming the registration of the
special resolution as well as the salient dates and times relating to the
voluntary tender offer (the "unconditionality announcement") will be
released on SENS following registration. A combined result of general
meeting and unconditionality announcement will be published in the South
African and Namibian media on Thursday, 26 April 2007.
Bellville
24 April 2007
Financial adviser and transaction Attorneys
sponsor
Deutsche Securities (SA) Jowell Glyn & Marais
(Proprietary) Limited
Date: 24/04/2007 13:45:01 Produced by the JSE SENS Department.
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