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CAUTIONARY ANNOUNCEMENT - SBIC

Release Date: 11/03/1998 10:01
Code(s): SBK SBKP
Wrap Text
STANDARD BANK INVESTMENT CORPORATION LIMITED
(REGISTRATION NUMBER 62/O0738/O6)
("STANBIC")
CAUTIONARY ANNOUNCEMENT

THE BOARD OF DIRECTORS OF STANBIC WISHES TO DRAW THE ATTENTION OF ITS
SHAREHOLDERS TO THE FOLLOWING DEVELOPMENTS WHICH COULD HAVE A MATERIAL EFFECT ON ITS SHARE PRICE.
DISCUSSIONS HAVE TAKEN PLACE BETWEEN STANBIC AND THE LIBERTY LIFE GROUP, WHICH COULD HAVE, A MATERIAL IMPACT ON THE RELATIONSHIP AND FUTURE OPERATIONS OF BOTH GROUPS.
THESE DISCUSSIONS CONTEMPLATE THE POSSIBILITY OF MAJOR RESTRUCTURING AND CONSOLIDATION OF THOSE ASPECTS OF THE TWO GROUPS WHERE MEANINGFUL CURRENT AND POTENTIAL SYNERGIES EXIST. THE OUTCOME OF THESE DISCUSSIONS COULD WELL INVOLVE THE CREATION OF A COMMON LISTED HOLDING COMPANY WHICH WOULD FINALLY CEMENT THE TWENTY YEAR RELATIONSHIP BETWEEN THE TWO GROUPS.
SHAREHOLDERS ARE THEREFORE ADVISED TO EXERCISE CAUTION IN THEIR DEALINGS IN STANBIC SHARES UNTIL A FURTHER ANNOUNCEMENT IS MADE AFTER THE CONCLUSION OF THESE DISCUSSIONS WHICH IS EXPECTED TO OCCUR BY THE END OF APRIL. JOHANNESBURG 11 MARCH 1998

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