STANDARD BANK GROUP - THE PROPOSED INTRODUCTION OF DIRECT BLACK SHARE OWNERSHIP
` IN STANDARD BANK GROUP
STANDARD BANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
Share code: SBK Namibian share code: SNB
ISIN: ZAE000057378
(`Standard Bank Group` or `the Company`)
THE PROPOSED INTRODUCTION OF DIRECT BLACK SHARE OWNERSHIP IN
STANDARD BANK GROUP
Reference should be made to the announcements dated 15 July 2004, 18 August
2004, 13 September 2004 and 21 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 according to 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 (`the SBG subsidiaries`) and
the trustees of the Standard Bank Group General Staff Share Trust(`General Staff
Trust`), between Standard Bank Group and its ordinary shareholders.
The number of Standard Bank Group ordinary shares to be purchased by the SBG
subsidiaries and the trustees of the General Staff Trust pursuant to the scheme
is 102 326 597. The number of Standard Bank Group ordinary shares in issue at
the last practical date of the circular posted to Standard Bank Group ordinary
shareholders on 18 August 2004 has increased marginally to 1 348 917 967 at the
record date. The final ratio for the implementation of the purchase by the SBG
subsidiaries and the trustees of the General Staff Trust of Standard Bank Group
ordinary shares will accordingly be 7.58583 for every 100 Standard Bank Group
ordinary shares held by each Standard Bank Group ordinary shareholder.
The scheme will be implemented according to the timetable contained in the
announcements dated 18 August 2004, 13 September 2004 and 21 September 2004.
Ordinary shareholders are reminded that the operative date of the scheme is
expected to be Monday, 4 October 2004.
Johannesburg
29 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: 29/09/2004 02:41:21 PM Produced by the JSE SENS Department
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