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FirstRand - Implementation and results of the odd-lot offer
FirstRand Limited
Incorporated in the Republic of South Africa
Registration number: 1966/010753/06
Share Code: FSR
ISIN: ZAE000014973
(`FirstRand`)
IMPLEMENTATION AND RESULTS OF THE ODD-LOT OFFER
1. Implementation of the odd-lot offer
Shareholders are advised that the odd-lot offer to shareholders who held less
than 100 ordinary shares in FirstRand at the close of business on Friday 17
September 2004 (`odd-lot holders`) has been implemented.
2. Results of the odd-lot offer
2.1. The total number of ordinary shares made available by those odd-lot holders
who elected to sell their odd-lot holdings and by those who failed to make an
election and were therefore deemed to have sold their odd-lot holdings is 52 344
ordinary shares. These ordinary shares were made available at R10.74 per share
(being the offer price of R10.23 per share plus a 5% premium) for a total
consideration of R562 175.
2.2. Of the total number of ordinary shares made available by those odd-lot
holders referred to in paragraph 2.1 above, 2 494 were applied to meeting the
aggregate requirement of those shareholders who elected to purchase or subscribe
for additional ordinary shares to increase their shareholding to holdings of 100
ordinary shares.
2.3. The balance of the ordinary shares made available by those odd-lot holders
referred to in paragraph 2.1 above were purchased by FirstRand at R10.74 per
share (being the offer price of R10.23 per share plus a 5% premium) for a total
consideration of R535 389, in terms of a specific approval to purchase its own
shares granted at the general meeting of shareholders held on Thursday 2
September 2004. These shares will be cancelled, delisted and restored to the
status of authorised share capital.
2.4. The total number of ordinary shares which continue to be held by those odd-
lot holders who elected to retain their odd-lot holdings is 2 038 shares. As a
result of the implementation of the odd-lot offer, the number of shareholders
has been reduced by 1 968.
3. Odd-lot holders who hold certificated shares
3.1. Cheques and electronic transfers in respect of the sale of odd-lot holdings
will be posted by ordinary post to the relevant odd-lot holders or effected on
or about Monday 20 September 2004 at the risk of such odd-lot holders and
against surrender of their relevant documents of title.
3.2. Certificated odd-lot holders who elected to sell their odd-lot holdings and
those who failed to make an election and were therefore deemed to have sold
their odd-lot holdings are reminded that in order for payment, in respect of the
sale of their odd-lot holdings, to be effected they are required to deliver
their relevant documents of title to the transfer secretaries, Computershare
Investor Services 2004 (Proprietary) Limited, Ground Floor, 70 Marshall Street,
Johannesburg, 2001 or to post their relevant documents of title to PO Box 61051,
Marshalltown, 2107. These odd-lot holders are also reminded that their
documents of title are no longer good for trading after Friday 10 September 2004
and will have no value other than to receive the proceeds of the sale of their
odd lot holdings of R10.74 per share upon surrender.
3.3. In respect of those odd-lot holders who hold certificated shares and who
elected to purchase or subscribe for and paid for additional ordinary shares,
new share certificates reflecting the additional shares purchased will be posted
by registered post at the risk of such odd-lot holder on or about Monday 20
September 2004.
3.4. No interest will be paid on cheques not deposited or amounts held in trust
pending the surrender of documents of title of those certificated odd-lot
holders who have not dematerialised their shares.
4. Odd-lot holders who hold dematerialised shares
Any movement in the number of ordinary shares held and amounts
payable/receivable by an odd-lot holder who has dematerialised his/her shares,
as a result of the implementation of the odd-lot offer, will be automatically
updated and debited/credited in the odd-lot holders account with the Central
Securities Depository Participant or broker selected by that odd-lot holder on
Monday 20 September 2004.
Sandton
20 September 2004
Merchant bank and sponsor
RMB (A division of FirstRand Bank Limited) Corporate Finance
Attorneys
Deneys Reitz
Information agent and transfer secretaries
Computershare Investor Services 2004 (Pty) Ltd
Date: 20/09/2004 03:02:07 PM Produced by the JSE SENS Department
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