Mercantile - Market Update, Further Cautionary And
Mercantile - Market Update, Further Cautionary And Changes To The Board
Mercantile Lisbon Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/000164/06)
("Mercantile")
MARKET UPDATE, FURTHER CAUTIONARY ANNOUNCEMENT AND CHANGES TO THE BOARD OF
DIRECTORS
Market update and further cautionary announcement
Shareholders are referred to the recent announcement of audited results for
the year ended 31 March 2002 and in particular to paragraph 7 entitled
"Audit Report".
In this regard, the board of Mercantile is pleased to announce that
agreement has been reached between Caixa Geral de Depositos and the South
African Reserve Bank regarding the terms of a guarantee supporting
Mercantile`s capital requirements ("the guarantee") and this agreement is
now being formalised.
Full details of the guarantee will be announced in due course. Until that
time shareholders are advised to continue to exercise caution when dealing
in their Mercantile shares.
Changes to the board of directors
At the board meeting of Mercantile held on 27 June 2002, the composition of
the board of directors was reconstituted with effect from the end of that
meeting and the board of Mercantile now comprises the following members:
Dr J de Andrade Campos* [Chairman]
R J Symmonds [Group Managing Director]
S R Bruyns
G K Chadwick
G P de Kock
Dr J H Real Pereira*
Dr R M L de F Neves Ribas* [Executive]
Dr A M SA Soares*
[* Portuguese]
The appointments of Dr J de Andrade Campos as non-executive director, Dr R
Ribas as executive director and of Dr J H Real Pereira as non-executive
instead of executive director, are subject to the regulatory processing
requirements.
Johannesburg
1 July 2002
Sponsor
Bridge Capital Services (Proprietary) Limited
(Registration number 1998/016301/07)
(A sponsor registered with the JSE Securities Exchange South Africa)
Date: 01/07/2002 04:15:07 PM Produced by the SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
