Sanlam to issue shares to a new broad based group of empowerment and Ubuntu-Botho

PUBLISHED: Wed, 31 Oct 2018 11:40:55 GMT

Sanlam intends to issue shares constituting in aggregate 5 per cent of the enlarged issued Sanlam ordinary shares (net of treasury shares) to a new broad-based group of empowerment shareholders and UB. The proposed transactions will increase economic inclusion as new broad-based beneficiary groups focused on black women and youth as well as Sanlam’s South African employees, will participate in 80 per cent of the new shares to be issued. UB will participate in the remaining 20 per cent. Ian Kirk, CEO, Sanlam and Joyce Simelani, Executive Director, Ubuntu-Botho spoke to CNBC Africa’s Chris Bishop for more.

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