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FirstRand - Salient dates announcement relating to the 10% Black Economic
Empowerment transaction
FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010753/06)
JSE share code: FSR NSX share code: FST
ISIN: ZAE000014973
(`FirstRand`)
Salient dates announcement relating to the 10% Black Economic Empowerment
(`BEE`) transaction
1. INTRODUCTION
Further to the announcement dated 24 February 2005, FirstRand is pleased to
announce the salient dates and times in respect of the transaction whereby,
subject to the fulfilment of certain conditions precedent, a number of broad-
based black groups and black South African FirstRand employees will acquire 9.6%
of FirstRand`s issued ordinary share capital (`the BEE transaction`). An
additional 0.4% of FirstRand`s issued ordinary share capital is already held by
black employees, bringing FirstRand`s total direct BEE interest to 10%.
2. SALIENT DATES AND TIMES
The salient dates and times in respect of the implementation of the BEE
transaction are set out below:
2005
Last day to trade in order to vote at the scheme meeting on Monday 11 April
Record date to vote at the scheme meeting at 17:00 on Monday 18 April
Last day for receipt of proxies for the scheme
meeting by 10:00 on Tuesday 19 April
Last day for receipt of proxies for the general
meeting by 11:00 on Tuesday 19 April
Scheme meeting to be held at 10:00 on Thursday 21 April
General meeting to be held at 11:00 (or 10 minutes
after the conclusion of the scheme meeting,
whichever is the later) on Thursday 21 April
Results of the scheme and general meetings
released on SENS on or about Thursday 21 April
Results of the scheme and general meetings published
in the press on or about Friday 22 April
Court hearing to sanction the scheme on Tuesday 3 May
Results of the Court hearing released on SENS on Tuesday 3 May
Results of the Court hearing published in the press on Wednesday 4 May
If the scheme is sanctioned and implemented:
Last day to trade for shareholders to be eligible
to receive the scheme consideration on Friday 6 May
Shares trade `ex` the scheme on Monday 9 May
Record date on which shareholders must be recorded
in the register of members of FirstRand in order to
receive the scheme consideration by 17:00 on Friday 13 May
Operative date of the scheme at the commencement of
trading on Monday 16 May
Scheme consideration posted to certificated scheme
Participants (if documents of title are received on or
prior to the consideration record date) on or about Monday 16 May
or, failing receipt of documents of title on or before
the consideration record date, within five business
days of receipt thereof by the transfer secretaries.
Dematerialised scheme participants have their accounts held
at their CSDP or broker credited with the scheme
consideration and updated on Monday 16 May
Listing and issue of the 119 million new ordinary shares
on the JSE Securities Exchange South Africa and
Namibian Stock Exchange at commencement of business on Monday 16 May
Notes:
1. These dates and times are subject to change. Any such change will be
released on SENS and published in the press. Any reference to time is a
reference to South African time.
2. If a form of proxy for the scheme meeting is not received by the time and
date shown above, it may be handed to the chairperson of the scheme meeting no
later than 10 minutes before the commencement of the scheme meeting.
3. Shareholders should note that as FirstRand is settling on STRATE, settlement
for trade takes place 5 (five) business days after such trade. Therefore
shareholders who acquire shares after Monday 11 April 2005 will not be eligible
to vote at the scheme meeting.
4. No dematerialisation or rematerialisation of existing FirstRand share
certificates may take place after Friday 6 May 2005.
3. DOCUMENTATION
A circular providing full information on the BEE transaction, which incorporates
the scheme and a notice of scheme meeting, will be posted to shareholders today.
4. SCHEME MEETING
Shareholders are advised that application was made to the High Court of South
Africa on 22 March 2005 to grant leave to convene the scheme meeting. The Order
of Court and a notice of scheme meeting which is incorporated in the circular to
be posted to shareholders, will also be published in the press today and on
Sunday 27 March 2005.
Sandton
23 March 2005
Merchant bank and joint sponsor
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Lead sponsor
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Date: 23/03/2005 11:16:15 AM
Produced by the JSE SENS Department
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