Availability of the Annual Financial Statements for the year ended 31 December 2020 - Sanlam Life Insurance Limited
Availability of the Annual Financial Statements for the year ended 31 December 2020 - Sanlam Life Insurance Limited
SANLAM LIFE INSURANCE LIMITED
(the “Company”)
Bond Code: SLI4
ISIN: ZAG000138629
AVAILABILITY OF THE AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2020
In terms of section 6.15 of the Debt Listings Requirements of the JSE Limited, investors are
advised that Sanlam Life Insurance Limited’s annual financial statements for the year ended 31
December 2020 are available for viewing and downloading at: www.sanlam.com
[http://sanl.am/KnFOu]
The annual financial statements of the issuer have been audited by Ernst & Young Inc., who have
issued an unqualified audit opinion.
In terms of section 6.17(c) of the Debt Listings Requirements of the JSE Limited, investors are
advised of the below restatements in the Annual Financial Statements (refer to note 36 of the
Notes to the annual financial statements):
- Management reassessed the definition of cash deposits and similar securities in the
presentation of the Sanlam Life and the Sanlam Life Group’s cash flow statement.
Previously, cash deposits and similar securities in the cash flow statement included
certain instruments that are classified as cash deposits and similar securities from an
IFRS 7 Financial instruments perspective, including instruments where the initial contract
duration is longer than three months. For purposes of the cash flow statement, cash and
cash equivalents are however held to meet short term cash commitments rather than for
investment or other purposes. Management therefore concluded that cash deposits and
similar securities presented in the cash flow statement should exclude instruments where
the initial duration is longer than three 3 months.
- Dividends paid to Sanlam Limited on loan account has been reassessed in terms of
reflecting it as a cash outflow. It was concluded that it should be treated as a non-cash
transaction. Cash utilised in operations and dividends paid for both Sanlam Life Group
and Company have been restated accordingly.
01 April 2021
Debt sponsor
Absa Bank Limited, acting through its Corporate and Investment Banking division
Date: 01-04-2021 04:31:00
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