Santam - Annual Results For The Year Ended 31 Dece
Santam - Annual Results For The Year Ended 31 December 2002
Santam Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1918/001680/06
(Share Code:SNT ISIN: ZAE000006854
("Santam")
ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2002
With reference to Santam"s abridged financial report for the year ended 31
December 2002, issued on 27 February 2003.
The company would like to correct the perception caused by the disclosure of
`Earnings based on long-term rate of return". All amounts disclosed in terms of
the long-term rate of return do not form part of the Income statement and
disclosure is not in terms of current South African GAAP. All figures with
references to `Earnings based on long-term rate of return" and `Earnings per
share based on long-term rate of return" should be viewed as being pro-forma of
nature.
The official annual report for 2002 will reflect the correct wording and
disclosure in terms of the ruling of the SA GAAP Monitoring Panel, as advised by
the JSE in their circular dated 21 February 2003.
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