| Fri 20 Mar 2009, 14:37 | | SBK - Standard Bank Group Limited - Announcement Of Scrip Distribution Ratio |
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SBK
SBK
SBK - Standard Bank Group Limited - Announcement Of Scrip Distribution Ratio
Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
JSE share code: SBK NSX share code: SNB
ISIN: ZAE000109815
("Standard Bank Group" or "the Company")
ANNOUNCEMENT OF SCRIP DISTRIBUTION RATIO
Standard Bank Group ordinary shareholders were notified of the payment of a
scrip distribution in the announcement of the Company`s annual results for the
year ended 31 December 2008, which was released on the Securities Exchange News
Service ("SENS") of the JSE Limited ("JSE") on Thursday, 5 March 2009 and
published in the South African and Namibian press on Friday, 6 March 2009.
Standard Bank Group ordinary shareholders are hereby advised that the volume
weighted average price of the Company`s ordinary shares on the JSE during the
five-day trading period ended Thursday, 19 March 2009 was 7 741 cents.
Accordingly, the number of Standard Bank Group ordinary shares to which
Standard Bank Group ordinary shareholders participating in the scrip
distribution will be entitled, will be determined in the ratio that 193 cents
multiplied by 1,05 bears to 7 741 cents which equates to 26,17879 new ordinary
shares per every 1 000 ordinary shares held. Trading in the Strate environment
does not permit fractions and fractional entitlements. Accordingly, where a
Standard Bank Group ordinary shareholder`s entitlement to new Standard Bank
Group ordinary shares calculated in accordance with the above formula gives
rise to a fraction of a new Standard Bank Group ordinary share, such fraction
of a new Standard Bank Group ordinary share will be rounded up to the nearest
whole number where the fraction is greater than or equal to 0,5 and rounded
down to the nearest whole number where the fraction is less than 0,5.
Example of calculation of the scrip dividend entitlement:
This example assumes that a Standard Bank Group ordinary shareholder holds 1
000 Standard Bank Group ordinary shares on the record date and does not elect
the cash dividend.
New ordinary share entitlement = 1 000 x 193 cents x 1,05 / 7 741 cents
= 26,17879 new ordinary shares
Standard Bank Group ordinary shareholders who wish to receive the cash dividend
of 193 cents per Standard Bank Group ordinary share in respect of all or part
of their shareholding must elect to do so in accordance with the provisions of
the circular and form of election which was posted to Standard Bank Group
ordinary shareholders on Monday, 9 March 2009. The form of election must be
properly completed and lodged with, or posted to, the transfer secretaries of
the Standard Bank Group at the appropriate addresses indicated in the circular
mentioned above so as to reach them by no later than 12:00 on Friday, 3 April
2009. Late forms of election will not be accepted.
A further announcement will be made on or about Monday, 6 April 2009 in respect
of the results of the scrip distribution.
Johannesburg
20 March 2009
Lead sponsor
STANDARD BANK
Legal adviser
BOWMAN GILFILLAN ATTORNEYS
Independent sponsor
DEUTSCHE BANK
Deutsche Securities (SA) (Proprietary) Limited
(A non-bank member of the Deutsche Bank Group)
Sponsor in Namibia
SIMONIS STORM Securities
Date: 20/03/2009 14:37:01 Produced by the JSE SENS Department.
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