| Mon 6 Apr 2009, 15:40 | | SBK - Standard Bank Group Limited - Results of the scrip distribution |
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SBK
SBK
SBK - Standard Bank Group Limited - Results of the scrip distribution
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")
RESULTS OF THE 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 were notified that the directors of Standard Bank
Group had resolved to issue fully paid ordinary shares of 10 (ten) cents each
in the Company as a scrip distribution, payable to Standard Bank Group ordinary
shareholders recorded in the register of the Company on the record date, being
Friday, 3 April 2009. Standard Bank Group ordinary shareholders were
furthermore notified of the volume weighted average price and the ratio of the
scrip distribution in an announcement which was released on SENS on Friday, 20
March 2009 and in the South African and Namibian press on Monday, 23 March
2009. In terms of the abovementioned announcements, Standard Bank Group
ordinary shareholders were entitled, in respect of all or part of their
shareholding, to elect to receive a cash dividend of 193 cents per Standard
Bank Group ordinary share in lieu of the scrip distribution, failing which they
would receive the scrip distribution. The last day to trade to participate in
the scrip distribution was Friday, 27 March 2009.
The number of Standard Bank Group ordinary shares to which Standard Bank Group
ordinary shareholders participating in the scrip distribution would become
entitled, was determined in the ratio that 193 cents multiplied by 1,05 bears
to 7 741 cents, being 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, which equates to 26,17879 new ordinary shares for
every 1 000 Standard Bank Group ordinary shares held on the record date, being
Friday, 3 April 2009.
Standard Bank Group ordinary shareholders holding 488 108 710 Standard Bank
Group ordinary shares elected to receive the cash dividend of 193 cents per
Standard Bank Group ordinary share, resulting in a total cash dividend of R942
049 810.30 being paid out of the profits of the Company. Accordingly, 27 188
622 Standard Bank Group ordinary shares were issued to Standard Bank Group
ordinary shareholders in terms of the scrip distribution resulting in a
capitalisation out of the share premium of the Company of R2 718 862.20.
Share certificates and dividend cheques, where applicable, were dispatched to
certificated shareholders at their risk and the Central Securities Depository
Participant/broker accounts of dematerialised shareholders were credited today.
Johannesburg
6 April 2009
Investment Bank and Lead Sponsor
Standard Bank
Independent Sponsor
Deutsche Bank
Deutsche Securities (SA) (Proprietary) Limited
(A non-bank member of the Deutsche Bank Group)
Legal adviser
Bowman Gilfillan Attorneys
Sponsor in Namibia
Simonis Storm Securities
Date: 06/04/2009 15:40:18 Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
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