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SANLAM LIMITED - Recommended Cash Offer For Nucleus Financial Group Plc By James Hay Holdings Limited

Release Date: 09/02/2021 09:20
Code(s): SLM     PDF:  
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Recommended Cash Offer For Nucleus Financial Group Plc By James Hay Holdings Limited

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”)


RECOMMENDED CASH OFFER FOR NUCLEUS FINANCIAL GROUP PLC BY JAMES HAY HOLDINGS LIMITED

Sanlam shareholders are referred to an announcement by Nucleus Financial Group plc
("Nucleus") published on 9 February 2021 indicating that Nucleus has reached agreement on
the terms of a recommended all cash offer to be made by James Hay Holdings Limited
("James Hay"), pursuant to which James Hay is to acquire the entire issued and to be issued
share capital of Nucleus (the "Acquisition").

Sanlam UK Limited holds 39,914,760 shares in Nucleus, representing approximately 52.19
per cent of Nucleus’ issued share capital as at 8 February 2021 and has given an irrevocable
undertaking to vote in favour of the Acquisition. Sanlam UK Limited is an indirectly held
subsidiary of Sanlam. Should the Acquisition complete, Sanlam UK Limited will receive
approximately £75 million in cash.

The Acquisition is subject to Nucleus shareholder and regulatory approvals, and other
conditions precedent. Subject to satisfaction of these conditions, the Acquisition is expected
to complete in the second quarter of 2021.


Bellville
9 February 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




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Date: 09-02-2021 09:20:00
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