Liberty Group Limited - Participation Of Black Non
Liberty Group Limited - Participation Of Black Non-Executive Directors In The
Introduction Of Direct Black Ownership In Liberty Life
Liberty Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1957/002788/06)
Share code: LGL
ISIN: ZAE000057360
(`Liberty Life`)
THE PARTICIPATION OF BLACK NON-EXECUTIVE DIRECTORS IN THE INTRODUCTION OF DIRECT
BLACK OWNERSHIP IN LIBERTY LIFE
1. CIRCULAR TO SHAREHOLDERS
Liberty Life shareholders are referred to the announcements dated 15 July 2004,
10 September 2004, 6 October 2004, 15 October 2004 and 26 October 2004 and the
circular to shareholders dated 10 September 2004 relating to Liberty Life`s
proposal to facilitate the acquisition of an effective 10% interest in its South
African operations by broad-based black groupings (`the black ownership
initiative`). The participants of the black ownership initiative include a black
managers` trust formed for the benefit of current and future black managers of
Liberty Life (`the black managers` trust`).
In terms of the black ownership initiative, Liberty Life proposed that current
and future black non-executive directors other than those who benefit in other
aspects of the black ownership initiative should be offered participation in the
initiative as beneficiaries of the black managers` trust.
A circular setting out the rationale for the inclusion of the black non-
executive directors, the applicable key terms and conditions relating to their
inclusion in the black managers` trust and a notice of general meeting was
posted to Liberty Life shareholders today.
The general meeting of Liberty Life shareholders will be held at 09:00 on
Tuesday, 7 December 2004 at Liberty Conference Centre, 1 Anerley Road, Parktown,
Johannesburg to consider and, if deemed fit, pass the ordinary resolutions,
which approve the participation of the black non-executive directors in the
black ownership initiative, as set out in the notice of general meeting.
2. IMPORTANT DATES AND TIMES 2004
Last day to lodge forms of proxy for the general
meeting by 09:00, on Monday, 6 December
General meeting to be held at 09:00, on Tuesday, 7 December
Announcement of results of general meeting on
SENS, on Tuesday, 7 December
Announcement of results of general meeting in
the press, on Wednesday, 8 December
Notes:
1. The above-mentioned dates and times are subject to change. Any such change
will be released on SENS.
2. If the general meeting is adjourned or postponed, forms of proxy must be
received by no later than 24 hours prior to the time of the adjourned or
postponed general meeting.
Johannesburg
19 November 2004
Investment bank and sponsor
Standard Bank
Lead sponsor
Merrill Lynch
Attorneys
Werksmans
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