| Tue 29 Apr 2008, 16:53 | | SBK - Standard Bank Group - Financial Information |
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SBK
SBK
SBK - Standard Bank Group - Financial Information Provided To ICBC, No
Change Statement And Notice Of Annual General Meeting
Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
South African Share Code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
("Standard Bank" or "the group")
Financial Information Provided To ICBC, No Change Statement And Notice Of Annual
General Meeting
Financial information provided to the Industrial and Commercial Bank of China
("ICBC")
The transaction through which ICBC acquired a 20% shareholding in Standard Bank
was implemented on Monday, 3 March 2008.
ICBC`s results for the quarter ended 31 March 2008 include equity-accounted
earnings of Standard Bank for the month of March 2008.
The following consolidated financial information relating to Standard Bank,
prepared on an IFRS basis, has been disclosed to ICBC for purposes of ICBC`s
take-on of its investment in Standard Bank and its equity accounting of Standard
Bank`s results for the month of March 2008:
1 March 2008 group equity balances (R million):
Ordinary share capital and premium 1 371
Foreign currency translation and hedging reserves 5 227
Retained earnings 55 381
Empowerment reserve and treasury shares (4 188)
Other 1 691
Ordinary shareholders` equity 59 482
Earnings for the month of March 2008
Consolidated earnings attributable to ordinary shareholders for the month of
March amounted to R1 164 million.
Significant reserve movements for the month of March 2008
Significant reserve movements for the month of March were a gain of R1 301
million on foreign currency translation and hedging reserves and a gain of
R1 034 million on the empowerment and treasury share reserve.
Ordinary shareholders` equity as at 31 March 2008 amounted to R76 234 million
including the R15 971 million issuance of ordinary share capital to ICBC on 3
March 2008 and after deducting the ordinary dividend of R2 920 million declared
on 5 March 2008.
The above information has not been reviewed or reported on by the group`s
auditors.
No change statement and notice of annual general meeting
Shareholders are advised that the annual financial statements of the group for
the year ended 31 December 2007 will be posted to shareholders on 29 April 2008
and contain no modifications to the audited results which were published on 5
March 2008 and subsequently posted to shareholders. PricewaterhouseCoopers Inc.
and KPMG Inc. audited the results and the annual financial statements of the
group and their reports remain available for inspection at the registered office
of Standard Bank. An online version of the annual report will be available on
our website on 29 April 2008.
Notice is hereby given that the 36th Annual General Meeting of Standard Bank
shareholders will be held at HP de Villiers Auditorium, Ground Floor, Standard
Bank Centre, 6 Simmonds Street, Johannesburg on 28 May 2008 at 09:30 to transact
the business stated in the notice of the Annual General Meeting, which was
issued together with the annual report containing the annual financial
statements of the group for the year ended 31 December 2007.
As is customary, the group will provide an update on trading conditions
following the Annual General Meeting. The group`s interim results for the period
ended 30 June 2008 will be released on 13 August 2008.
29 April 2008
Sponsor
Standard Bank
Date: 29/04/2008 16:53:10 Produced by the JSE SENS Department.
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