| Mon 16 Mar 2020, 14:07 | | MMIG - Availability Of The Unaudited Interim Results of Issuer and an Update to the Issuer’s Information Statement |
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MMIG - Availability Of The Unaudited Interim Results of Issuer and an Update to the Issuer’s Information Statement:
MMIG - Availability Of The Unaudited Interim Results of Issuer and an Update to the Issuer’s Information Statement
Momentum Metropolitan Life Limited
(Previously MMI Group Limited)
Incorporated in the Republic of South Africa
Registration number 1904/002186/06
Company code: MMIG
(“MML” or “the Issuer”)
AVAILABILITY OF THE UNAUDITED INTERIM RESULTS OF
THE ISSUER AND AN UPDATE TO THE ISSUER’S INFORMATION
STATEMENT
AVAILABILITY OF THE UNAUDITED INTERIM RESULTS OF THE ISSUER
Momentum Metropolitan Life Limited, a subsidiary of Momentum Metropolitan Holdings Limited (“Momentum
Metropolitan”) wishes to advise noteholders that the interim results of MML, for the six months ended 31
December 2019 (“the F2020 interim results”), are available for inspection at the registered office of the Issuer.
The F2020 interim results of the Issuer have been made available on MML’s website at
https://www.momentummetropolitan.co.za/en/investor-relations/debt-investor.
Furthermore, the Issuer would like to advise noteholders of the following restatements to previously published interim
results for the six month period ended 31 December 2018 (“the F2019 Interim Results”) and the annual financial
statements for the year ended 30 June 2019 (“the F2019 Financial Statements”) and reasons thereof:
1. Investments in associates at fair value through income and Derivative financial assets at fair value through
income are now included within Financial assets at fair value through income. Derivative financial liabilities at
fair value through income are now included within Financial liabilities at fair value through income. These
assets/liabilities are all at fair value and are not managed differently from one another, and therefore this
change assists in decluttering of the financial statements.
2. Upon transition of IFRS 9, policy loans of R1 billion were incorrectly reclassified from Financials assets at
amortised cost to Insurance and other receivables in the F2019 Interim Results. This was correctly
presented in the F2019 Financial Statements as part of Financials assets at amortised cost;
UPDATE TO THE ISSUER’S INFORMATION STATEMENT
The Issuer wishes to further advise noteholders that MML has amended its Information Statement in respect of the
Issuer’s ZAR 10 000 000 000 Unsecured Subordinated Note Programme (“Information Statement”) for the change in
the Issuer’s appointed auditors (“the Amendment”).
The Information Statement, dated 12 March 2020, is available for inspection at the registered office of the Issuer and
will be made available for inspection on MMHL’s website at
https://momentummetropolitan.co.za/en/investor-relations/debt-investor.
16 March 2020
Debt Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Think Precinct, 1 Merchant Place
Cnr Fredman Drive & Rivonia Road
Sandton 2196, South Africa
P O Box 786273, Sandton, 2146, South Africa
Date: 16-03-2020 02:07:00
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