13 Sep - 2 min read

Proposed Sale Of Sanlam UK’s 100% Shareholding In Sanlam Life & Pensions UK Limited To Chesnara Plc

Proposed Sale Of Sanlam UK’s 100% Shareholding In Sanlam Life & Pensions UK Limited To Chesnara Plc

Sanlam Limited
(Incorporated in the Republic of South Africa)
Registration number 1959/001562/06
JSE share code: SLM
A2X share code: SLM
NSX share code: SLA
ISIN: ZAE000070660
(“Sanlam”)

PROPOSED SALE OF SANLAM UK’S 100% SHAREHOLDING IN SANLAM LIFE & PENSIONS
UK LIMITED TO CHESNARA PLC

The board of directors of Sanlam is pleased to announce the conclusion of agreements between its
wholly owned subsidiary, Sanlam UK Limited (“Sanlam UK”) and Chesnara Plc, for the disposal by
Sanlam UK of its 100% shareholding in Sanlam Life & Pensions UK Limited (“SLP”) (the “Transaction”) 
in line with Sanlam’s strategy to simplify its UK operations and reallocate capital to
Africa and other selected emerging markets.

The Transaction consideration is GBP39 million and is not a categorised transaction in terms of the
Listings Requirements of the JSE Limited. Conditions precedent to the Transaction include
regulatory approvals in South Africa and the UK.

Furthermore, the asset management of SLP’s assets will be retained with Sanlam Investments UK
Limited.

Following the fulfilment of the conditions precedent, the effective date of the Transaction is expected
to occur during the first quarter of 2022.

Bellville
13 September 2021

Enquiries
Sanlam Investor Relations
Phone: +27 21 947 8455
E-mail: ir@sanlam.co.za


Sponsor to Sanlam
The Standard Bank of South Africa Limited

Date: 13-09-2021 08:05:00
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