FIRSTRAND LIMITED - PRESS RELEASE
FirstRand Limited
Share code : FSR
ISIN : ZAE000014973
Press Release
Following an earlier statement that the FirstRand Board would be considering Mr
Maharaj`s offer to either resign or take leave of absence from the relevant
FirstRand Group Boards, in the wake of issues raised in the recent Sunday Times
article, Mr Laurie Dippenaar CEO of FirstRand Limited today confirmed that the
Board of FirstRand Limited had acceded to Mr Maharaj`s request to take leave of
absence for a period of three months.
"We believe this course of action will allow Mr Maharaj to focus his attention
fully on the matter. Going forward, the principles of due process, rule of law,
and sound corporate governance will apply. We will monitor the situation on an
ongoing basis.
Should there be any substantive reason to revise the decision, a statement will
be made accordingly."
20 February 2003
Sponsor
Rand Merchant Bank Corporate Finance
Date: 20/02/2003 04:16:08 PM Supplied by www.sharenet.co.za
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