Sanlam and Santam announced on 5 October 2026 that Sanlam, through Sanlam Life, intends to make a cash offer of R505 per eligible Santam share not already held by Sanlam entities. Treasury shares are excluded.
The announcement describes a proposed transaction, not a completed acquisition. It is conditional on specified approvals and other conditions.
Offer terms and approvals
The proposed consideration is R505 in cash for each eligible Santam share covered by the offer. The announcement identifies the eligible shares by excluding those already held by Sanlam entities and excluding treasury shares.
The proposal is subject to specified conditions. The process also contemplates a Santam shareholder resolution and a compliance certificate from the Takeover Regulation Panel.
Delisting is part of the proposal
If the scheme is implemented, Santam would be delisted. The announcement therefore links the proposed change in ownership with a change to Santam’s listed status, while making clear that both remain subject to the transaction proceeding.
For eligible Santam shareholders, the stated R505 cash consideration is the central commercial term disclosed in the announcement. The available details do not establish the transaction’s final outcome, which depends on the required approvals and other conditions.
