| Thu 1 Oct 2009, 16:50 | | NED/NBKP - Nedbank Group / Nedbank Limited - Fairness opinion for the |
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NED NBKP
NED NBKP
NED/NBKP - Nedbank Group / Nedbank Limited - Fairness opinion for the
acquisition and an offer to the holders of Imperial
Nedbank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share code: NED NSX: NBK
ISIN: ZAE000004875
(`Nedbank Group`)
Nedbank Limited
(Incorporated in the Republic of South Africa)
(Registration number 1951/000009/06)
Share code: NBKP
ISIN: ZAE000043667
(`Nedbank Limited`)
ANNOUNCEMENT REGARDING:
* FAIRNESS OPINION FOR THE ACQUISITION BY NEDBANK GROUP OF IMPERIAL FINANCIAL
HOLDINGS LIMITED`S (`IMPERIAL FINANCIAL HOLDINGS`) 49,9% INTEREST IN
IMPERIAL BANK LIMITED (`IMPERIAL BANK`) (`FAIRNESS OPINION`); AND
* NEDBANK LIMITED`S INTENTION TO MAKE AN OFFER TO THE HOLDERS OF IMPERIAL
BANK PERPETUAL, NON-REDEEMABLE, NON-PARTICIPATING, NON-CUMULATIVE
PREFERENCE SHARES (`IMPERIAL BANK PREFERENCE SHARES`) (`THE OFFER`).
Fairness opinion
Further to the terms announcement published by Nedbank Group and Nedbank
Limited on the Securities Exchange News Service (`SENS`) on 16 September
2009, JSE Limited has approved the fairness opinion provided by
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited (`PwC` or
`the independent expert`) to Nedbank Group. PwC has found the terms of the
acquisition of Imperial Financial Holdings` ordinary shares in Imperial
Bank by Nedbank Limited ("the acquisition") to be fair to the members of
Nedbank Group. The fairness opinion will lie for inspection for 28 days
from the date of this announcement at Nedbank Group`s registered office,
being A-block, Ground floor, Nedbank Sandton, 135 Rivonia Road, Sandown,
Sandton, 2196.
The offer
Nedbank Limited will, subject to obtaining certain regulatory approvals,
make an offer to Imperial Bank preference shareholders to acquire their
Imperial Bank preference shares. The terms of the offer will be announced
on SENS and in the press in due course.
Please direct any questions to Don Bowden at Tier 1 Investor Relations on
+27 (0)21 702 3115 or don@tier1ir.co.za.
Sandton
01 October 2009
Investment bank, corporate Independent lead sponsor to
adviser and sponsors to Nedbank Group
Nedbank Group and Nedbank -Merrill Lynch (South Africa)
Limited (Pty) Limited-
- Nedbank Capital, a division
of Nedbank Limited -
Independent lead sponsor to Attorneys
Nedbank Limited -ENS-
-Investec Bank Limited-
Sponsoring broker in Namibia Independent professional
to Nedbank Group expert to Nedbank Group
-Old Mutual Investment Limited
Services (Namibia) (Pty) -PricewaterhouseCoopers
Limited- Corporate Finance
(Proprietary) Limited-
Date: 01/10/2009 16:50:16 Produced by the JSE SENS Department.
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implicitly, represent, warrant or in any way guarantee the truth, accuracy or
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