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African Life / Sanlam / Momentum - Fulfilment of suspensive conditions
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")
FULFILMENT OF SUSPENSIVE CONDITIONS
Shareholders are advised that the High Court of South Africa (Witwatersrand
Local Division) today granted orders approving the scheme of arrangement
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 shareholders" funds), the African Life Employee
Shareholders Scheme Trust and African Life Investments (Proprietary) Limited
("the scheme") in terms of section 37 of the Long-term Insurance Act, No. 52 of
1998, and sanctioning the scheme in terms of section 311 of the Companies Act,
No. 61 of 1973, as amended.
All regulatory approvals necessary to implement the scheme have been obtained
and the final remaining suspensive condition, being the registration of a
certified copy of the order sanctioning the scheme by the Registrar of
Companies, is expected to take place on Thursday, 1 December 2005.
The scheme will be implemented according to the timetable contained in the
circular to African Life shareholders dated 7 September 2005. Shareholders of
African Life are reminded that the last day to trade to participate in the
scheme will be Friday, 2 December 2005 and the operative date of the scheme will
be Monday, 12 December 2005.
Johannesburg
30 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: 30/11/2005 01:55:05 PM Produced by the JSE SENS Department
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