Nedbank Group Limited - Nedbank Group"s black econ
Nedbank Group Limited - Nedbank Group`s black economic empowerment transaction
Nedbank Group Limited
(formerly Nedcor Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1966/010630/06)
Share code JSE:NED
ISIN:ZAE000004875
(`Nedbank Group`)
Nedbank Group`s black economic empowerment transaction
Introduction
Nedbank Group ordinary shareholders (`Shareholders`) are referred to the
announcement on 19 April 2005 of its intention to introduce direct, broad-based
black ownership into the Nedbank Group by way of the issue of 41 268 130 new
ordinary shares in the Nedbank Group (`New Nedbank Shares`) (`the Transaction`),
the circular to Shareholders posted on 15 June 2005 describing the Transaction
and the announcement of the results of the general meeting held on 22 July 2005
stating that all required ordinary and special resolutions were duly passed by
the requisite majority of Shareholders.
The implementation of the Transaction was subject to the fulfilment of certain
conditions precedent.
The board of Nedbank Group is pleased to announce that the outstanding
conditions precedent have been fulfilled and the Transaction is now wholly
unconditional.
Accordingly the New Nedbank Shares have been issued and listed on the JSE with
effect from today.
Sandton
08 August 2005
Lead sponsor to Nedbank Group
Merrill Lynch South Africa (Pty) Ltd
Investment bank, Transaction advisor and sponsor to Nedbank Group
Nedbank Capital
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