Firstrand Limited - Issue and Listing of additiona
FSR
FSR
Firstrand Limited - Issue and Listing of additional ordinary shares
FirstRand Limited
(Incorporated in the Republic of South Africa)
Registration number: 1966/010753/06
JSE Share Code: FSR NSX Share Code: FST
ISIN: ZAE000066304
("FirstRand" or the "Company")
Issue and Listing of additional ordinary shares
Rand Merchant Bank is authorised to announce that FirstRand has issued a
further 831,066 ordinary shares as a result of a conversion of preference
shares under the FirstRand Out-performance Share Incentive Scheme (the
"Out-performance scheme" or the "Scheme"). The JSE Limited ("JSE") has
granted a listing of the 831,066 additional ordinary shares in the capital
of FirstRand with effect from Wednesday, 8 November 2006.
These new FirstRand ordinary shares arise from the conversion of
redeemable, convertible preference shares previously issued by the Company
to selected staff members under the Out-performance scheme. Under the
Scheme, incentive shares accrue to participants in terms of a formula based
on the level of out-performance achieved by the FirstRand ordinary share
price relative to the Fini 15 Index. This index forms part of the "FTSE-
JSE Africa Index Series" administered by the JSE and is composed of the
fifteen largest listed financial services organisations in South Africa.
As such, the index reflects the share price performance of FirstRand"s peer
group.
Financial Impact
Assuming that the additional ordinary shares been in issue for the full
year ended 30 June 2006 (FirstRand"s latest financial reporting period) the
impact of the conversion may be extrapolated as follows:
Before After % Change
Headline earnings per share - basic 157.8 157.8 -0.0%
(cents)
Net asset value per share (cents) 570.2 570.2 -0.0%
Sandton
8 November 2006
Merchant bank and sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 08/11/2006 11:22:07 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
