Sanlam Kenya PLC has issued a cautionary notice to its shareholders and the public regarding a significant transaction involving Allianz Europe BV (Allianz). On December 23, 2024, Sanlam Kenya received a notice of intention from Allianz, a Netherlands-based corporation, to indirectly increase its shareholding in Sanlam Kenya PLC.
Currently, Allianz holds 23.09% of the issued shares of Sanlam Kenya. If the proposed transaction proceeds, this shareholding will rise to 28.00%. This increase is contingent upon obtaining all necessary regulatory approvals.
Allianz and Sanlam Emerging Markets Proprietary Limited operate as joint venture partners under Sanlam Allianz Africa Proprietary Limited (referred to as the JV Company). The JV Company, through its subsidiary Hubris Holdings Limited, already owns 57.14% of Sanlam Kenya’s shares. The proposed transaction aligns with the public announcement issued by Allianz in December 2022, detailing its agreement with Sanlam Emerging Markets Proprietary Limited.
The notice emphasizes that Allianz’s interest lies in supporting the ongoing operations and growth of Sanlam Kenya, one of Kenya’s leading financial services providers. It is worth noting that Allianz has applied for an exemption from the Capital Markets Authority to avoid the mandatory take-over offer requirement for Sanlam Kenya shares. This exemption would allow Allianz to focus on maintaining its current partnership within the JV Company.
Investors and shareholders are advised to exercise caution when trading in Sanlam Kenya’s ordinary shares on the Nairobi Securities Exchange (NSE) while awaiting further announcements.
This cautionary notice has been issued with the approval of the Capital Markets Authority under Regulation 89(4) of the Capital Markets (Securities) (Public Offers, Listing, and Disclosures) Regulations, 2023.
Disclaimer: The information provided in this announcement is for public awareness and does not constitute a commitment to the transaction. Shareholders and investors are encouraged to verify the details with the company and regulatory authorities.
Sanlam Kenya PLC remains committed to transparency and its mission to serve as a trusted financial services provider
