AFRICAN LIFE ASSURANCE COMPANY LIMITED - THE ACQUISITION BY AFRICAN LIFE HEALTH
OF 100% OF THE SHARES AND CLAIMS IN
AMANZI
AFRICAN LIFE ASSURANCE COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1911/003818/06
JSE Share Code: AFI
ISIN Code: ZAE000000246
("African Life" or "the Company")
THE ACQUISITION BY AFRICAN LIFE HEALTH (PROPRIETARY) LIMITED ("ALH") OF 100% OF
THE SHARES AND CLAIMS IN AMANZI HEALTH ADMINISTRATORS (PROPRIETARY) LIMITED, A
HEALTHCARE ADMINISTRATOR ("AMANZI")
Shareholders of African Life are advised that African Life Health (Proprietary)
Limited ("ALH"), a wholly owned subsidiary of African Life has acquired 100% of
the shares and claims ("the acquisition") in Amanzi Health Administrators
(Proprietary) Limited ("Amanzi"), a healthcare administrator, as part of the
Group"s strategy to be a dominant provider of healthcare products to the
emerging markets.
ALH has concluded this acquisition primarily as:
* it positions the Company for growth beyond its existing product range;
* it provides critical mass producing economies of scale;
* it offers an extended distribution channel, a substantial skills base and
numerous synergistic opportunities; and
* Amanzi is a well run and profitable organisation.
The acquisition became effective on 14 January 2004.
Johannesburg
26 January 2004
Sponsor:
Merrill Lynch South Africa (Pty) Limited
Date: 26/01/2004 08:00:06 AM Supplied by www.sharenet.co.za
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