Sanlam Group - Sanlam Announcement Regarding The Disposal Of Its Absa
Shareholding
Sanlam Group
Registered name: Sanlam Limited
(Registration number: 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000028262
(`Sanlam`)
SANLAM ANNOUNCEMENT REGARDING THE DISPOSAL OF ITS ABSA SHAREHOLDING
Sanlam shareholders are referred to the SENS announcement on 9 May 2005 as well
as the Sanlam circular to shareholders dated 19 May 2005 regarding the disposal
of all or the majority of Sanlam`s shareholding in Absa Group Limited (`Absa`).
Sanlam shareholders are advised that the closing date of the Barclays Bank PLC
(`Barclays`) offer was Monday, 25 July 2005.
In terms of the Barclays acquisition, Sanlam shareholders are advised that
Sanlam has disposed of all of its beneficial holding of 124,3 million Absa
ordinary shares in shareholders` funds. The total consideration to be received
is therefore R10,3 billion.
Shareholders are further referred to Sanlam`s capital management announcement
released on SENS on 11 July 2005. Sanlam announced that it currently holds
capital of approximately R7 billion in excess of its requirements and that the
disposal of its Absa shareholding provides certainty on the liquidity required
to proceed with the utilisation of surplus capital within the Group as
announced.
Bellville
26 July 2005
Financial advisor and transaction sponsor:
Deutsche Securities
Member of the Deutsche Bank Group
Attorneys:
Jowell Glyn & Marais
Reporting accountants:
PricewaterhouseCoopers Inc
Chartered Accountants(SA)
Registered Accountants and Auditors
(Registration no 1998/012055/21)
and
Ernst & Young
Chartered Accountants(SA)
(Registered Accountants and Auditors)
Date: 26/07/2005 04:46:06 PM
Produced by the JSE SENS Department
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