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STANBIC - RESULTS OF CAPITALISATION SHARE AWARD AND CASH DIVIDEND

Release Date: 03/05/2001 12:14
Code(s): SBK SBKP
Wrap Text
Standard Bank Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
("Stanbic")

RESULTS OF CAPITALISATION SHARE AWARD AND CASH DIVIDEND
The right of ordinary shareholders registered at the close of business on Friday, 30 March 2001 to elect to receive the final cash dividend of 63 cents per ordinary share ("the election") instead of the award of capitalisation shares, closed at 12:00 on Thursday, 26 April 2001.
Elections to receive the final cash dividend of 63 cents per share were made in respect of 787 192 394 ordinary shares, resulting in the payment of a total dividend of R496 265 769, which includes the residual cash dividend payable in lieu of unallocated fractional entitlements to new ordinary shares (R 334 561). Accordingly, 12 892 046 new ordinary shares are to be issued pursuant to the capitalisation share award, being a 44,1% acceptance of such award.
The weighted average price of Stanbic ordinary shares on the JSE Securities Exchange South Africa ("the JSE") for the four business days ended Tuesday, 24 April 2001, was 3187 cents per share. Accordingly, the capitalisation share award has been determined according to a ratio of 2,075520 new ordinary shares for every 100 ordinary shares held on Friday, 30 March 2001.
Following the issue of the new ordinary shares, the issued ordinary share capital of Stanbic will consist of 1 421 737 989 ordinary shares of 10 cents each. LISTING OF NEW ORDINARY SHARES
The listing of 12 892 046 new ordinary shares in Stanbic will commence on the JSE from the commencement of business on Friday, 4 May 2001 and on the Namibian Stock Exchange from the commencement of business on Monday, 7 May 2001. POSTING OF SHARE CERTIFICATES AND CHEQUES
Share certificates in respect of the new ordinary shares will be posted to the relevant shareholders on or about Friday, 4 May 2001. Where applicable, cash dividends and/or the fractional entitlements referred to above will be transferred electronically to shareholders' bank accounts or, in the absence of suitable mandates, cheques will be posted to shareholders on or about Friday, 4 May 2001. Johannesburg 3 May 2001 MERCHANT BANK AND SPONSOR IN SOUTH AFRICA STANDARD CORPORATE AND MERCHANT BANK
(A division of The Standard Bank of South Africa Limited) (Registration Number 1962/000738/06) SPONSORING BROKERS IN NAMIBIA HSBC Phillip J A Van Heerden MEMBER NAMIBIAN STOCK EXCHANGE TRADING AS HSBC SECURITIES (NAMIBIA) (PTY) LIMITED REG NO. 95/505

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