South African life assurer Sanlam on Friday announced that it is engaged in discussions with a potential partner to establish a broad-based black economic empowerment (BEE) transaction which, if successfully concluded, may have an impact on the price of the company’s shares.
Shareholders were accordingly advised to exercise caution when dealing in their Sanlam shares until a further announcement is made. CEO Johan van Zyl said this initiative follows the group’s announcement during its interim results in September 2003 that a broad-based BEE strategy was an important business imperative for Sanlam to deliver optimal value for all stakeholders.
“We are committed to transformation and dedicated to the interests of all groups of people who constitute our current and future client base and staff complement. We are focusing on being a truly South African company that embraces the best interests of a broad base of South Africans,” he said. – I-Net Bridge