Frequently asked questions

What happened with the unclaimed shares?

In accordance with the demutualisation scheme, approved by the High Court, the unclaimed shares reverted back to Sanlam Limited.

What was meant by an invalid claim?

For a claim to have been valid it had to reach the Trust before the cutoff at 24h00 on 22 October 2008 and had to meet all other requirements, namely, the validations form had to be properly completed and signed and all the required supporting documents had to accompany it. 

What happened if a person just missed the cutoff?

Special audited measures were in place to ensure that all claims received before 24h00 on 22 October 2008 were recorded.  Any claim received after the cutoff time was regarded late and therefore invalid.  As the right to claim the free shares lapsed on the cutoff, these shares also reverted back to Sanlam Limited.

Sanlam acknowledge however that special circumstances could have existed why a claimant missed the cutoff.  Therefore Sanlam Limited may award shares on an ex gratia basis in meritious cases, where such circumstances could be explained in a sworn affidavit.