FIRSTRAND LIMITED - CANCELLATION OF SURPLUS BANKIN
FIRSTRAND LIMITED - CANCELLATION OF SURPLUS BANKING LICENCE
FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
Share Code: FSR ISIN: ZAE000014973
("FirstRand")
Cancellation of surplus banking licence
FirstRand was created in 1998 as a result of the merger of the
financial services interests of Anglo American plc (and its
associate De Beers Consolidated Mines Limited) with those of
RMB Holdings Limited. Pursuant to the merger, the majority of
the businesses and operations of Rand Merchant Bank Limited
were transferred into a division of FirstRand Bank Limited,
which has traded and will continue to trade as Rand Merchant
Bank, a division of FirstRand Bank Limited.
As FirstRand holds a number of banking licences that are
surplus to its requirements, the Registrar of Banks has
requested FirstRand to reduce such number.
Accordingly, the board of directors of FirstRand wishes to
advise shareholders that it has changed the name of Rand
Merchant Bank Limited to RMB Asset Finance Bank Limited
("RMBAF") and will, in consultation with the South African
Reserve Bank and the Registrar of Banks, take the steps
necessary to give effect to the deregistration of RMBAF as a
bank.
The cancellation of the banking licence of RMBAF will have no
impact on Rand Merchant Bank, a division of FirstRand Bank
Limited, or on FirstRand shareholders and RMBAF will continue
to operate as a finance company.
21 July 2003
Sandton
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