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Sanlam Life Insurance Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1998/021121/06)
Bond Issuer Code: BISLI
(“Sanlam Life”)
RESULTS OF PARTIAL OFFER
Unless otherwise defined in this announcement, words and expressions contained herein shall have the same
meanings as assigned to them in the combined circular distributed to AfroCentric Shareholders on Thursday,
8 December 2022 (“Combined Circular”) and available on AfroCentric Investment Corporation Limited’s
(“AfroCentric”) website (http://www.afrocentric.za.com/inv-circulars.php) and on Sanlam Limited’s (“Sanlam”) website
(www.sanlam.com/presentations).
Sanlam Life investors are referred to the Combined Circular, the updated timetable applicable to the Proposed
Transaction published on SENS on 23 January 2023, the joint announcement to extend the Offer Closing Date
published on SENS on 16 March 2023, the joint announcement declaring the Partial Offer wholly unconditional
published on SENS on 08 May 2023 and the fractional entitlements announcement published on SENS on 25 May
2023.
1. PARTIAL OFFER PERCENTAGE
Sanlam has elected to accept AfroCentric Shares in terms of the Partial Offer up to the Maximum Shares
Percentage, being 43.9% and amounting to 257 928 500 AfroCentric Shares. Following the implementation of the
Partial Offer and related Asset for Share Transaction, Sanlam will effectively hold 494 431 629 AfroCentric Shares,
representing 60.0% of the AfroCentric Shares.
2. RESPONSIBILITY STATEMENT
The board of directors of Sanlam accepts responsibility for the information contained in this announcement insofar
as it relates to Sanlam. In addition, the Sanlam Board confirms that, to the best of its knowledge and belief, the
information contained in this announcement, as it relates to Sanlam, is true and correct and, where appropriate,
does not omit anything that is likely to affect the importance of the information contained herein pertaining to Sanlam
and that all reasonable enquiries to ascertain such information have been made.
By order of the Sanlam Board
Bellville
26 May 2023
Debt sponsor to Sanlam Life Insurance Limited
Absa Bank Limited, acting through its Corporate and Investment Banking division
