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Name | Symbol | Market | Type |
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Morgan St. 30 | LSE:66ZZ | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:2124P Standard Bank of South Africa Ltd 03 March 2008 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: ZAE000109815 ("Standard Bank Group") COMPLETION OF THE ACQUISITION OF A 20% SHAREHOLDING IN STANDARD BANK GROUP BY THE INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED Further to the announcement released on the Securities Exchange News Service of the JSE Limited on Thursday, 14 February 2008 and published in the press on Friday, 15 February 2008, Standard Bank Group announces that the transaction in terms of which the Industrial and Commercial Bank of China Limited ("ICBC") was to acquire a 20% stake in Standard Bank Group ("the Transaction"), has been completed. In terms of the Transaction, Standard Bank Group issued to ICBC 152 505 805 ordinary shares at a price of R104.58 per share, for a total cash subscription price of R15 949 057 087. In terms of the Transaction ICBC also acquired a further 152 505 052 ordinary shares from the shareholders of Standard Bank Group in terms of the scheme of arrangement in terms of section 311 of the Companies Act, 1973, as amended, proposed by ICBC, between Standard Bank Group and its ordinary shareholders (" the Scheme"). In terms of the Scheme, ICBC paid a price of R136.00 per share for a total consideration of R20 740 687 072. Accordingly, ICBC now holds 20% of the issued ordinary share capital in Standard Bank Group for an aggregate investment of R36 689 744 159. The Scheme having become operative, the scheme consideration was transferred or posted today (as the case may be) and new share certificates were posted to certificated scheme participants whose documents of title were surrendered to the transfer secretaries prior to 12:00 on 29 February 2008. The scheme consideration has today also been credited to dematerialised scheme participants' accounts held at their CSDPs or brokers, and their share balances updated with respect thereto. Certificated Standard Bank Group shareholders who have not yet surrendered their share certificates are reminded to do so at their earliest convenience, using the yellow form of surrender that was included in the scheme document and circular to shareholders dated 16 November 2007. Current share certificates bearing the old ISIN of ZAE000057378 may no longer be dematerialised or rematerialised, and must first be surrendered and reissued with the new ISIN of ZAE000109815. Johannesburg 3 March 2008 Investment bank and joint sponsor to Standard Bank Group Standard Bank Legal advisers to Standard Bank Group Bowman Gilfillan Inc Financial adviser and lead sponsor to Standard Bank Group Deutsche Securities (SA) (Proprietary) Limited Sponsor to Standard Bank Group in Namibia Simonis Storm Securities (Proprietary) Limited Financial adviser to ICBC Goldman Sachs International Financial adviser to ICBC ICEA Capital Limited International legal advisers to ICBC Linklaters LLP South African legal advisers to ICBC Webber Wentzel Bowens This information is provided by RNS The company news service from the London Stock Exchange END ACQJJMJTMMBMBMP
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