FIRSTRAND LIMITED - CORRECTION OF ERROR
FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE share code: FSR
ISIN: ZAE000014973
NSX share code: FST
(`FirstRand`)
Shareholders are referred to the circular issued by FirstRand on 23 March 2005
relating to a scheme of arrangement in terms of section 311 of the Companies
Act, No. 61 of 1973, as amended (`the Companies Act`), proposed by the trustee
of the FirstRand Empowerment Trust and FirstRand Bank Limited between FirstRand
and its ordinary shareholders for the acquisition of 7.6 ordinary shares for
every 100 ordinary shares held at an acquisition price of R12.28 per share (`the
scheme of arrangement`); a share repurchase; and a specific issue of shares for
cash, as part of a 10% Black Economic Empowerment transaction. The front cover
of the circular incorrectly states the acquisition price for the acquisition of
7.6 ordinary shares for every 100 ordinary shares held as R13.28 per share. The
correct acquisition price is R12.28 per share, which is correctly reflected in
the scheme of arrangement, the explanatory statement in terms of section
312(1)(a)(i) of the Companies Act, the valuation statement in terms of section
312(1)(a)(ii) of the Companies Act, the notice of scheme meeting, and elsewhere
in the circular.
Shareholders are advised that the first bullet on the front page of the circular
to shareholders should read as follows:
`a scheme of arrangement in terms of section 311 of the Companies Act, No. 61 of
1973, as amended (`the Companies Act`), proposed by the trustee of the FirstRand
Empowerment Trust and FirstRand Bank Limited between FirstRand and its ordinary
shareholders for the acquisition of 7.6 ordinary shares for every 100 ordinary
shares held at an acquisition price of R12.28 per share;`
Sandton
31 March 2005
Merchant bank and sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited) Corporate Finance
Date: 31/03/2005 02:13:19 PM
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