Metropolitan - Metropolitan to transfer Lesotho business
Metropolitan Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
JSE Code: MET
NSX Code: MTD
ISIN Code: ZAE000050456
(`Metropolitan`)
Metropolitan to transfer Lesotho business
Metropolitan Life Limited is requesting permission from the High Court of South
Africa, Cape Provincial Division, to transfer substantially all of the insurance
business recorded in its database as at 31 December 2003 with a residential
address in Lesotho to Metropolitan Lesotho Limited with effect from 1 January
2004. The application is scheduled to be heard on or about 25 November 2004.
Metropolitan Life and Metropolitan Lesotho are both wholly-owned subsidiaries of
South African based Metropolitan Holdings Limited. Metropolitan Lesotho was
established as an independent operating entity and officially incorporated in
the Kingdom of Lesotho on 1 January 2003 after the Metropolitan group had been
doing business in that country for close on 40 years through Metropolitan Life.
Some 50 000 individual policies, together with assets in excess of M800 million,
are due to be transferred .
The documentation relating to the proposed transfer is available for inspection
by affected parties at the head offices of Metropolitan Life and Metropolitan
Lesotho in Bellville, Cape Town, and Maseru respectively as well as at branch
offices of Metropolitan Lesotho in Leribe and Mafeteng or on the following
website: www.metropolitan.co.za
Cape Town
22 October 2004
Date: 22/10/2004 08:00:02 AM
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