On Thursday, 24 February 2022 the High Court of South Africa (Gauteng Division, Pretoria) granted an order varying the trust deed of the Denel Medical Benefit Trust (the “DMBT”). The court order was obtained on the application of Denel.The order is one of the requirements for the implementation of the alternative offer in the form of individual annuities to beneficiaries.
The order will enable Denel to arrange individual annuities for the DMBT members who have accepted Denel’s offer to do so.The individual annuities provide DMBT members with enhanced benefits.The amendments will ensure that sufficient provision will be made to continue the current benefits of the members who did not accept the offer. The balance of the funds will go to Denel.
Denel is engaging with the Trustees of the DMBT to take all of the steps required to arrange the individual annuities.More details and time frames will be communicated in due course.
Those beneficiaries who still wish to accept the offer and have not yet responded are kindly invited to do so on or before 21 March 2022 after which no more responses will be accepted.
Please contact us should you require additional clarity:
Telephone: 012 671 2895
WhatsApp: 081 389 4330
Issued on 3 March 2022
Denel Medical Benefit Trust - English Version
Denel Medical Benefit Trust - Afrikaans Version
Please continue to download documents relevant to this page.