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Standard Bank Group - The Participation Of Black Non-Executive Directors In The
Introduction Of Direct Black Ownership In Standard Bank Group
Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
JSE share code: SBK NSX share code: SNB
ISIN: ZAE000057378
(`Standard Bank Group`)
THE PARTICIPATION OF BLACK NON-EXECUTIVE DIRECTORS IN THE INTRODUCTION OF DIRECT
BLACK OWNERSHIP IN STANDARD BANK GROUP
1. CIRCULAR TO ORDINARY SHAREHOLDERS
Standard Bank Group ordinary shareholders are referred to the announcements
dated 15 July 2004, 18 August 2004, 13 September 2004, 21 September 2004 and
29 September 2004 and the circular posted to ordinary shareholders on
18 August 2004 relating to Standard Bank Group`s proposal to facilitate
the acquisition of an effective 10% interest in its South African banking
operations by broad-based black groupings (`the black ownership initiative`).
The participants of the black ownership initiative include black managers
trusts formed for the benefit of current and future black managers of
Standard Bank Group (`the Managers Trusts`).
In terms of the black ownership initiative, Standard Bank Group proposed that
current and future black non-executive directors other than those who benefit
in other aspects of the black ownership initiative should be offered
participation in the initiative as beneficiaries of the Managers Trusts.
A circular setting out the rationale for the inclusion of the black non-
executive directors, the applicable key terms and conditions relating to
their inclusion in the Managers Trusts and the notice of general meeting
was posted to Standard Bank Group ordinary shareholders today.
The general meeting of Standard Bank Group shareholders will be held at
14:30 on Monday, 6 December 2004 in the HP de Villiers Auditorium,
Standard Bank Centre, 6 Simmonds Street, Johannesburg to consider and, if
deemed fit, pass the ordinary resolutions, which approve the participation
of the black non- executive directors in the black ownership initiative,
as set out in the notice of general meeting.
2. IMPORTANT DATES AND TIMES
2004
Last day to lodge forms of proxy for the general
meeting by 14:30, on Friday, 3 December
General meeting to be held at 14:30, on Monday, 6 December
Announcement of results of general meeting on
SENS, on Monday, 6 December
Announcement of results of general meeting in
the press, on Tuesday, 7 December
Notes:
1. The abovementioned dates and times are subject to change. Any such change
will be released on SENS.
2. If the general meeting is adjourned or postponed, forms of proxy must be
received by no later than 24 hours prior to the time of the adjourned or
postponed general meeting.
Johannesburg
19 November 2004
Investment bank and joint sponsor
STANDARD BANK
Attorneys
BOWMAN GILFILLAN
Independent lead sponsor
DEUTSCHE BANK
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