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STANBIC ANNOUNCEMENT IN TERMS OF RULE 2.2.2 OF THE SRP CODE

Release Date: 29/09/1999 07:01
Code(s): SBK SBKP
Wrap Text
STANDARD BANK INVESTMENT CORPORATION LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 69/17128/06)
("STANBIC")

ANNOUNCEMENT IN TERMS OF RULE 2.2.2 OF THE SECURITIES REGULATION CODE ON
TAKEOVERS AND MERGERS ("THE CODE")

STANBIC HAS RECEIVED AN UNSOLICITED APPROACH FROM NEDCOR LIMITED ("NEDCOR") TO
CONSIDER A MERGER PROPOSAL, THE CONTENTS OF WHICH ARE DUE TO BE PRESENTED BY
NEDCOR TO STANBIC'S CHAIRMAN, DEPUTY CHAIRMAN AND EXECUTIVE DIRECTORS ON 7
OCTOBER 1999.

IT HAS COME TO STANBIC'S ATTENTION THAT NEDCOR HAS APPROACHED CERTAIN

SHAREHOLDERS OF STANBIC TO ASCERTAIN THEIR SUPPORT FOR ITS PROPOSAL.

STANBIC IS ISSUING THIS ANNOUNCEMENT IN TERMS OF RULE 2.2.2 OF THE CODE AND
STANBIC SHAREHOLDERS ARE THEREFORE ADVISED TO EXERCISE CAUTION IN DEALING IN
THEIR SHARES.

A FURTHER ANNOUNCEMENT WILL BE MADE ONCE THE IMPLICATIONS OF NEDCOR'S PROPOSAL
HAVE BEEN ANALYSED.
29 SEPTEMBER 1999

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