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FSR FSRP FSPP
FSR
FST / FSRP / FSPP - FirstRand - Issue And Listing Of Additional
Ordinary Shares
FirstRand Limited
(Incorporated in the Republic of South Africa)
Registration number: 1966/010753/06
JSE Share Code: FSR & NSX Share Code: FST
ISIN: ZAE000066304
B Preference share code: FSRP & ISIN: ZAE000060141
B1 Preference share code: FSPP & ISIN: ZAE000070900
("FirstRand" or the "Company")
ISSUE AND LISTING OF ADDITIONAL ORDINARY SHARES
Rand Merchant Bank is authorised to announce that FirstRand has issued a
further 1,302,100 ordinary shares as a result of a conversion of preference
shares under the FirstRand Out-performance Share Incentive Scheme (the "Out-
performance scheme" or the "Scheme"). The JSE Limited ("JSE") has granted a
listing of the 1,302,100 additional ordinary shares in the capital of
FirstRand with effect from Wednesday, 28 November 2008.
These new FirstRand ordinary shares arise from the conversion of redeemable,
convertible preference shares previously issued by the Company to selected
staff members under the Out-performance scheme. Under the Scheme, incentive
shares accrue to participants in terms of a formula based on the level of out-
performance achieved by the FirstRand ordinary share price relative to the
Fini 15 Index. This index forms part of the "FTSE-JSE Africa Index Series"
administered by the JSE and is composed of the fifteen largest listed
financial services organisations in South Africa. As such, the index reflects
the share price performance of FirstRand`s peer group.
Financial Impact
Assuming that the additional ordinary shares been in issue for the full year
ended 30 June 2007 (FirstRand`s latest financial reporting period) the impact
of the conversion may be extrapolated as follows:
Before After % Change
Headline earnings per share - 202.5 202.5 -0.0%
basic (cents)
Net asset value per share 692.5 692.4 -0.0%
(cents)
Sandton
28 November 2007
Merchant bank and joint sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 28/11/2007 12:25:27 Produced by the JSE SENS Department.
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