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MOMENTUM METROPOLITAN LIFE LIMITED - MMIG- Notification of change in Auditor, Appointment of Company Secretary and Proposed Acquisition by the Guarantor

11 September 2019 - 13:10 PM
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MMIG- Notification of change in Auditor, Appointment of Company Secretary and Proposed Acquisition by the Guarantor

Momentum Metropolitan Life Limited
(Formerly MMI Group Limited)
Incorporated in the Republic of South Africa
Registration No. 1904/002186/06
Company code: MMIG
(MML or the Issuer)


NOTIFICATION OF A CHANGE IN AUDITOR, APPOINTMENT OF THE COMPANY SECRETARY AND A PROPOSED ACQUISITION
ANNOUNCED BY THE GUARANTOR

CHANGE IN AUDITOR

In June 2017, the Independent Regulatory Board of Auditors published a rule prescribing that auditors
of public interest entities in South Africa must comply with mandatory audit firm rotation (MAFR),
whereby audit firms shall not serve as the appointed auditor of a public interest entity for more than 10
consecutive years, with effect from 1 April 2023.

The board of the Issuer, together with its Audit Committee, has resolved to early adopt MAFR. As a
consequence, PricewaterhouseCoopers Inc. will rotate off the Issuers audit on conclusion of its external
audit responsibilities for the year ended 30 June 2019, expected to be at the conclusion of the
Momentum Metropolitan Holdings Limited (the Guarantor) annual general meeting to be held on 26
November 2019.

Noteholders will be informed of the new firm appointed as external auditors once all regulatory
approvals have been obtained. The change of the external audit firm will be tabled for approval by the
Guarantors shareholders at the next annual general meeting.


APPOINTMENT OF THE COMPANY SECRETARY

The board is pleased to announce that Ms Gcobisa Tyusha has been appointed as Group Company
Secretary of the Issuer and Momentum Metropolitan Holdings Limited with effect from 1 July 2019. The
board is satisfied that Ms Tyusha has the necessary experience and expertise to fulfil the role of Group
Company Secretary.

Ms Tyusha will replace CorpStat Governance Services (Pty) Ltd represented by Karen Waldeck, who
acted as Interim Group Company Secretary. The board wishes to extend their thanks to CorpStat
Governance Services (Pty) Ltd for their services provided during their tenure.


PROPOSED ACQUISITION ANNOUNCED BY THE GUARANTOR

Further to the announcement released by Momentum Metropolitan Holdings Limited (the Group), as
the Guarantor to the Unsecured Subordinated Note Programme dated 8 March 2019, on SENS on 25
July 2019 (the Proposed Transaction Announcement), the Guarantor had announced that the Group,
through its wholly-owned subsidiary, Momentum Metropolitan Strategic Investments Proprietary
Limited, had entered into an agreement to acquire the Alexander Forbes Short-term Insurance
business, directly held through Alexander Forbes Limited, an indirect subsidiary of Alexander Forbes
Group Holdings Limited, an entity listed on the JSE (the Proposed Transaction).

For further details on the Proposed Transaction, noteholders are referred to the Proposed Transaction
Announcement.



11 September 2019

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 11/09/2019 01:10:00
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