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Intended distribution of Rand Merchant Investment Holdings’ shareholding in Momentum Metropolitan
MOMENTUM METROPOLITAN HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2000/031756/06
ISIN code: ZAE000269890
JSE Share Code: MTM
A2X Share Code: MTM
NSX Share Code: MMT
(“Momentum Metropolitan” or “the Group”)
MOMENTUM METROPOLITAN LIFE LIMITED
Incorporated in the Republic of South Africa
Registration number: 1904/002186/06
Company code: MMIG
Voluntary announcement – Intended distribution of Rand Merchant
Investment Holdings’ shareholding in Momentum Metropolitan
Shareholders and noteholders are referred to the announcement by Rand Merchant Investment Holdings
Limited (“RMIH”), released on SENS on 20 September 2021 in terms of which RMIH announced, inter alia, the
intended distribution in specie of RMIH’s shareholding in Momentum Metropolitan to RMIH shareholders (the
“Transaction”), which is expected to be completed by Q2 2022. This is part of a series of transactions that
RMIH will undertake to unlock the discount in its market capitalisation relative to its net asset value through
the unbundling of its interest in its listed assets, and to execute on its strategy to evolve its geographic and
earnings mix to become an international property and casualty-biased insurance investor.
The Transaction does not impact the Momentum Metropolitan capital structure, solvency position or strategy.
Momentum Metropolitan will continue to execute the Reinvent and Grow strategy over the period from F2022
to F2024. The Transaction does not impact any forward looking or outlook statements that were previously
communicated.
RMIH currently holds 26.8% of Momentum Metropolitan’s total outstanding shares.
Centurion
20 September 2021
Equity sponsor Debt sponsor
Merrill Lynch South Africa (Pty) Limited Rand Merchant Bank (A division of FirstRand Bank Limited)
t/a BofA Securities
Date: 20-09-2021 08:10:00
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