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Shareholders are formally advised that AfroCentric and Sanlam have, on 4 June 2015, concluded subscription, shareholder, relationship and co-operation agreements (collectively “Subscription Agreements”) in terms of which Sanlam, or its nominee, will subscribe for a 28.7% interest in the issued share capital of AHA (“Subscription”) for an initial cash subscription price of R593.74 million if the WAD Transaction is not implemented on or before the date of the Subscription (“Subscription Date”), and will increase by R109.26 million (“Further Subscription”) to R703 million when the WAD Transaction is implemented, provided that no material adverse change, as defined in the Subscription Agreements, shall have occurred between the Subscription Date and the date of implementation of the Further Subscription.

Read the full announcement released on the JSE News Service today.

Sanlam Life Insurance is a licensed financial service provider.
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