ALEXANDER FORBES LIMITED
The Financial Times has reported that Alexander Forbes is
considering a UK listing. This is only one of the many strategies
being investigated by us to ensure that we will be able to grow as
an international business by having access to international
capital for acquisitions outside South Africa.
Access to capital is not a problem in the short term. There is
GBP20 million remaining of the GBP100 million exchangeable bond
issued in September1999 and we have been advised that we can
access additional debt facilities of around GBP80 million. This
is adequate to fund our international expansion for the next 12
months.
In view of this we have not yet made application to move our
listing. However, recognising that such an application can
involve lengthy discussions with the SA authorities, it is likely
that we will submit an application within the next 6 months.
END OF PRESS RELEASE
For further information, please contact:
Graeme Kerrigan Mike Ilsley
Group Chief Executive Group Finance Director
Alexander Forbes Limited Alexander Forbes Limited
Telephone: +2711 2690636 Telephone: +2711 2690153
Mobile: +27 (0) 833263560 Mobile: +27 (0) 832500127
Note to Editors:
Alexander Forbes is a leading international group listed on the
Johannesburg Securities Exchange. We are the 8th largest
independent provider of financial and risk services worldwide
(source: Business Insurance, 17 July 2000).
Financial services activities include: retirement fund
administration; employee benefit consulting, software development,
actuarial and other related services; personal financial planning;
direct mass marketing of financial products; cell captive life
insurance facilities; niche insurance underwriting; and multi-
manager investment products.
Risk services activities include: corporate insurance broking;
reinsurance broking; risk management and risk finance consulting;
cell captive insurance facilities; claims management; specialist
aviation, marine, professional indemnity, political and credit
risk and transportation risk services; and insurance products and
services for the individual.
Over 5,500 personnel, based in 30 countries in Africa, Asia, Latin
America and Europe, deliver financial and risk services to small,
medium and large organizations and to individual clients. Our
focus is on fast efficient local service by empowered local
management in every country where we operate.
Debbie Kotzen
Alexander Forbes
Direct Telephone: +2711 2690024
Direct Fax: +2711 2632688
e-mail: KotzenD@Aforbes.co.za
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
