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FSR MET
FSR MET
FSR/ MET - FirstRand/ Metropolitan /Momentum - Metropolitan and Momentum merger:
extension of date for fulfilment of conditions precedent
FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010753/06)
Share code: FSR ISIN: ZAE000066304
("FirstRand")
Metropolitan Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/031756/06)
Share code: MET ISIN: ZAE000050456
("Metropolitan")
Momentum Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1904/002186/06)
("Momentum")
Metropolitan and Momentum merger: extension of date for fulfilment of conditions
precedent
Shareholders of FirstRand and Metropolitan are referred to the announcement
released on SENS on 28 September 2010 wherein shareholders were advised that all
the resolutions required to implement the merger of Metropolitan and Momentum
(the "Merger") and the subsequent unbundling by FirstRand of its entire holding
of shares in Metropolitan (the "Unbundling") had been approved by Metropolitan
and FirstRand shareholders, respectively. The Merger and the Unbundling are
collectively hereinafter referred to as the "Transaction".
Shareholders of FirstRand and Metropolitan are advised that certain procedural
conditions precedent have not yet been fulfilled as some outstanding regulatory
matters must still be finalised.
Accordingly, FirstRand, Metropolitan and Momentum have agreed to extend the date
for the fulfilment of the conditions precedent to 30 November 2010, whereafter a
further announcement will be released.
01 November 2010
Merchant bank and sponsor to FirstRand and merchant bank to Momentum
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisors to FirstRand and Momentum
Webber Wentzel
Independent sponsor to FirstRand
PricewaterhouseCoopers Corporate Finance
Financial advisors to Metropolitan
JP Morgan Chase Bank
Fidelis Partners
Sponsor to Metropolitan
Merrill Lynch South Africa (Pty) Limited
Legal advisors to Metropolitan
Edward Nathan Sonnenbergs
Sponsor in Namibia to FirstRand and Metropolitan
Simonis Storm Securities (Pty) Limited
Date: 01/11/2010 07:05:06 Produced by the JSE SENS Department.
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