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Santam - firm intention announcement correction
Sanlam and Santam shareholders and noteholders (collectively “Securityholders”) are referred to the joint firm intention announcement released on SENS on 5 October 2026 ("FIA").
The FIA stated that Sanlam's effective shareholding in Santam, as at 18 September 2026, was 68 958 604 Santam Shares, representing 62.7% of the issued Santam Shares (excluding Treasury Shares). The figure included certain Santam Shares held by entities within the Sanlam Group on behalf of third parties in which Sanlam has no beneficial interest. Sanlam’s beneficial shareholding in Santam is 68 023 017 Santam Shares, representing 61.9% of the issued Santam Shares (excluding Treasury Shares). Accordingly, a further 935 587 Santam Shares fall within the Scheme Shares, and the aggregate Scheme Consideration increases commensurately. Sanlam Life has furnished the TRP with an updated irrevocable and unconditional guarantee replacing the guarantee referred to in the FIA, covering the Scheme Consideration payable in respect of all Scheme Shares. Securityholders are advised that the rest of the terms of the Scheme and the Scheme Consideration of R505 (five hundred and five Rand) per Scheme Share remain unchanged.
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