| Mon 7 Jul 2008, 15:41 | | SBK / SNB - Standard Bank Group - Interim Acceptances Of The Unconditional Offer |
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SBK
SBK
SBK / SNB - Standard Bank Group - Interim Acceptances Of The Unconditional Offer
To Ordinary Shareholders Of Liberty Holdings
Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK
NSX share code: SNB
ISIN: ZAE000109815
("Standard Bank")
INTERIM ACCEPTANCES OF THE UNCONDITIONAL OFFER TO ORDINARY SHAREHOLDERS OF
LIBERTY HOLDINGS
1. INTRODUCTION
Further to the announcement dated 26 June 2008 confirming the opening of
Standard Bank`s unconditional offer to acquire the remaining ordinary
shares in the issued ordinary share capital of Liberty Holdings Limited
("Liberty Holdings") which it did not own (the "offer shares") by means of
an offer in terms of Chapter XVA of the Companies Act (Act 61 of 1973), as
amended ("the offer"), Standard Bank hereby announces the acceptances
received in respect of the offer prior to 12:00 on Friday, 4 July 2008.
The offer remains open for acceptance until 12:00 on Friday, 18 July 2008.
2. INTERIM ACCEPTANCES RECEIVED
Interim acceptances were received prior to 12:00 on Friday, 4 July 2008 in
respect of 13 334 023 offer shares, representing 74.3% of the total offer
shares and 27.2% of the aggregate number of Liberty Holdings ordinary
shares in issue.
Accordingly, Standard Bank`s aggregate direct shareholding in Liberty
Holdings after these acceptances is 44 482 234 ordinary shares,
representing 90.6% of the aggregate number of Liberty Holdings ordinary
shares in issue. No further Liberty Holdings ordinary shares are held by
Standard Bank`s subsidiaries after these acceptances.
Settlement of the aggregate consideration of R2 923 484 543 in respect of
the offer shares tendered prior to 12:00 on Friday, 4 July 2008 will be
effected today, Monday 7 July 2008.
3. NEXT SETTLEMENT DATE
The next settlement date will be Monday, 14 July 2008, which will be in
respect of further acceptances received by the transfer secretaries after
12:00 on Friday, 4 July 2008, but before 12:00 on Friday, 11 July 2008.
4. IMPORTANT DATES AND TIMES
The important dates and times of the offer are set out below:
Last day to trade Liberty Holdings ordinary Friday, 11 July 2008
shares on the JSE to accept the offer
Liberty Holdings ordinary shares trade ex the Monday, 14 July 2008
offer
Record date in order to participate in the offer Friday, 18 July 2008
The offer closes at 12:00 on Friday, 18 July 2008
Results of the offer released on SENS Monday, 21 July 2008
Results of the offer published in the press Tuesday, 22 July 2008
Remaining settlement dates (see note 2 below) Monday, 14 July 2008 and
Monday, 21 July 2008
Notes:
1. The dates and times set out above are South African dates and times, and
are subject to change. Any such change will be released on SENS and
published in the press.
2. The procedures for the acceptance of the offer, and payments of
consideration, were detailed in Standard Bank`s announcement dated 26 June
2008 and the offer document posted by Standard Bank to Liberty Holdings
shareholders on that date.
3. Offerees should note that acceptance of the offer will be irrevocable.
4. Liberty Holdings ordinary shareholders may not dematerialise or
rematerialise their existing Liberty Holdings shares between Monday,
14 July 2008 and Friday, 18 July 2008, both days inclusive.
Johannesburg
7 July 2008
Investment bank and sponsor to Standard Bank
Standard Bank
Joint financial adviser to Standard Bank
Goldman Sachs International
Independent sponsor to Standard Bank
Deutsche Securities (SA) (Proprietary) Limited
Legal advisers to Standard Bank
Bowman Gilfillan
Sponsor to Standard Bank in Namibia
Simonis Storm
Date: 07/07/2008 15:41:02 Produced by the JSE SENS Department.
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