11 March 2019
On 12 December 2018 Sanlam shareholders approved the package of transactions, which includes the aforementioned equity raising.
Sanlam Group Chief Executive Officer, Mr Ian Kirk said: “We are pleased with the progress we have made on our transformation strategy. The implementation of the 5% share issuance signals another milestone in the diligent execution of that strategy.”
The new broad-based beneficiary groups will include, among others, professional black women, rural and urban black women groups, black youth and black business partners. The B-BBEE Transaction contributes to Sanlam’s strong and market-leading position in terms of empowerment.