STANDARD BANK GROUP - SANCTIONING OF THE SCHEME OF ARRANGEMENT
STANDARD BANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
JSE Share code: SBK
Namibian share code: SNB
ISIN: ZAE000038873
(`Standard Bank Group` or `the Company`)
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Further to the announcements dated 15 July 2004, 18 August 2004 and 13 September
2004 relating to the proposed facilitation by Standard Bank Group of the
acquisition of an effective 10% interest in its South African banking operations
by a broad-based grouping of black entities, Standard Bank Group ordinary
shareholders are advised that the scheme of arrangement (`the scheme`) in terms
of section 311 of the Companies Act (Act 61 of 1973), as amended, proposed by
six wholly-owned subsidiaries of Standard Bank Group and the trustees of the
Standard Bank Group General Staff Share Trust, between Standard Bank Group and
its ordinary shareholders, was sanctioned by the High Court of South Africa
(Witwatersrand Local Division) today, being Tuesday, 21 September 2004.
The remaining condition precedent is that a certified copy of the Order of Court
sanctioning the scheme be registered by the Registrar of Companies. It is
expected that a certified copy of the Order of Court will be lodged with the
Registrar of Companies on Wednesday, 22 September 2004.
It is expected that the scheme will be implemented according to the timetable
contained in the announcements dated 18 August 2004 and 13 September 2004.
Ordinary shareholders are reminded that the operative date of the scheme is
expected to be Monday, 4 October 2004.
Johannesburg
21 September 2004
Investment bank and joint sponsor
Standard Bank
Independent financial adviser
JP Morgan
Independent lead sponsor
Deutsche Securities
Attorneys
Bowman Gilfillan
Joint independent reporting accountants
KPMG
and
PricewaterhouseCoopers
Date: 21/09/2004 04:01:27 PM
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