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African Life/Sanlam/Momentum - Court hearing to sanction the scheme
African Life Assurance Company Limited
Incorporated in the Republic of South Africa
Registration number: 1911/003818/06
JSE code: AFI
ISIN: ZAE000000246
("African Life")
Sanlam Limited
Incorporated in the Republic of South Africa
Registration number: 1959/001562/06
JSE code: SLM
NSX code: SLA
ISIN: ZAE000070660
("Sanlam")
Momentum Group Limited
Incorporated in the Republic of South Africa
Registration number: 1904/002186/06
("Momentum")
COURT HEARING TO SANCTION THE SCHEME
Shareholders are referred to the previous announcements released on SENS and the
circular to African Life shareholders dated 7 September 2005 relating to the
scheme of arrangement in terms of section 311 of the Companies Act, No. 61 of
1973, as amended ("the Companies Act"), proposed by Sanlam between African Life
and the African Life ordinary shareholders other than Sanlam (in respect of
African Life ordinary shares held by the Sanlam Group Companies in the
shareholders" funds), the African Life Employee Shareholders Scheme Trust and
African Life Investments (Proprietary) Limited ("the scheme"); and the proposed
disposal by African Life of African Life Health (Proprietary) Limited to
Momentum.
Shareholders are advised that the Court hearing to approve the scheme in terms
of section 37 of the Long-term Insurance Act, No. 52 of 1998, and to sanction
the scheme in terms of section 311 of the Companies Act, which was set down for
hearing today, is expected to be heard on Wednesday, 30 November 2005.
Johannesburg
29 November 2005
Corporate advisor to African Life
Metier
Sponsor to African Life
Merrill Lynch South Africa (Pty) Ltd
Registration number 1995/001805/07
Registered Sponsor and Member of the JSE Limited
Independent advisor to African Life
KPMG
Corporate law advisor to African Life
Edward Nathan
Corporate Law Advisers
Edward Nathan (Proprietary Limited)
Registration No. 2004/005665/07
Reporting accountants to African Life
PricewaterhouseCoopers Inc
Chartered Accountants (SA)
Registered Accountants and Auditors
(Registration no 1998/012055/21)
Attorneys to African Life
KNOWLES HUSAIN LINDSAY INC ATTORNEYS
(Registration number 2000/000004/21)
Corporate advisor and transactional sponsor to Sanlam
ABSA Corporate & Merchant Bank
Corporate Finance
ABSA Bank Limited
Reg No 1986/004794/06
Attorneys to Sanlam
JOWELL GLYN & MARAIS
Merchant bank to Momentum
RAND MERCHANT BANK
A division of FirstRand Bank Limited
Attorneys to Momentum
Hofmeyr Herbstein & Gihwala Inc.
Registration number 1997/001523/21
Date: 29/11/2005 05:56:05 PM Produced by the JSE SENS Department
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