| Mon 26 Apr 2010, 11:56 | | 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 2009 released on the Securities Exchange News Service of the JSE
Limited ("SENS") on Thursday, 4 March 2010 and published in the South African
and Namibian press on Friday, 5 March 2010, Standard Bank Group ordinary
shareholders were advised 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, 23
April 2010. In terms of the announcement Standard Bank Group ordinary
shareholders would be entitled, in respect of all or part of their shareholding,
to elect to receive a cash dividend of 245 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, 16 April 2010.
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 245 cents multiplied by 1,05 bears to
11 565 cents which equates to 22,24384 new ordinary shares per every 1 000
shares held, being the volume weighted average price of the Company`s ordinary
shares on the exchange operated by the JSE Limited during the five-day trading
period ended Thursday, 8 April 2010. The rounding principle was applied to
fractions.
Standard Bank Group ordinary shareholders holding 664 336 001 Standard Bank
Group ordinary shares elected to receive the cash dividend of 245 cents per
Standard Bank Group ordinary share, resulting in a total cash dividend of R 1
627 623 202.45 being paid out of the profits of the Company. Accordingly, 19 979
912 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 R 1 997 991.20.
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
26 April 2010
Lead Sponsor
Standard Bank
Independent Sponsor
Deutsche Securities (SA) Proprietary Limited
Sponsor in Namibia
Simonis Storm Securities
Date: 26/04/2010 11:56:01 Produced by the JSE SENS Department.
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implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
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,
howsoever arising, from the use of SENS or the use of, or reliance on,
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