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FirstRand - Salient dates announcement relating to the 10% Black Economic Empowerment transaction FirstRand Limited (Incorporated in the Republic of South Africa) (Registration number 1966/010753/06) JSE share code: FSR NSX share code: FST ISIN: ZAE000014973 ("FirstRand") Salient dates announcement relating to the 10% Black Economic Empowerment ("BEE") transaction 1. INTRODUCTION Further to the announcement dated 24 February 2005, FirstRand is pleased to announce the salient dates and times in respect of the transaction whereby, subject to the fulfilment of certain conditions precedent, a number of broad- based black groups and black South African FirstRand employees will acquire 9.6% of FirstRand"s issued ordinary share capital ("the BEE transaction"). An additional 0.4% of FirstRand"s issued ordinary share capital is already held by black employees, bringing FirstRand"s total direct BEE interest to 10%. 2. SALIENT DATES AND TIMES The salient dates and times in respect of the implementation of the BEE transaction are set out below: 2005 Last day to trade in order to vote at the scheme meeting on Monday 11 April Record date to vote at the scheme meeting at 17:00 on Monday 18 April Last day for receipt of proxies for the scheme meeting by 10:00 on Tuesday 19 April Last day for receipt of proxies for the general meeting by 11:00 on Tuesday 19 April Scheme meeting to be held at 10:00 on Thursday 21 April General meeting to be held at 11:00 (or 10 minutes after the conclusion of the scheme meeting, whichever is the later) on Thursday 21 April Results of the scheme and general meetings released on SENS on or about Thursday 21 April Results of the scheme and general meetings published in the press on or about Friday 22 April Court hearing to sanction the scheme on Tuesday 3 May Results of the Court hearing released on SENS on Tuesday 3 May Results of the Court hearing published in the press on Wednesday 4 May If the scheme is sanctioned and implemented: Last day to trade for shareholders to be eligible to receive the scheme consideration on Friday 6 May Shares trade "ex" the scheme on Monday 9 May Record date on which shareholders must be recorded in the register of members of FirstRand in order to receive the scheme consideration by 17:00 on Friday 13 May Operative date of the scheme at the commencement of trading on Monday 16 May Scheme consideration posted to certificated scheme Participants (if documents of title are received on or prior to the consideration record date) on or about Monday 16 May or, failing receipt of documents of title on or before the consideration record date, within five business days of receipt thereof by the transfer secretaries. Dematerialised scheme participants have their accounts held at their CSDP or broker credited with the scheme consideration and updated on Monday 16 May Listing and issue of the 119 million new ordinary shares on the JSE Securities Exchange South Africa and Namibian Stock Exchange at commencement of business on Monday 16 May Notes: 1. These dates and times are subject to change. Any such change will be released on SENS and published in the press. Any reference to time is a reference to South African time. 2. If a form of proxy for the scheme meeting is not received by the time and date shown above, it may be handed to the chairperson of the scheme meeting no later than 10 minutes before the commencement of the scheme meeting. 3. Shareholders should note that as FirstRand is settling on STRATE, settlement for trade takes place 5 (five) business days after such trade. Therefore shareholders who acquire shares after Monday 11 April 2005 will not be eligible to vote at the scheme meeting. 4. No dematerialisation or rematerialisation of existing FirstRand share certificates may take place after Friday 6 May 2005. 3. DOCUMENTATION A circular providing full information on the BEE transaction, which incorporates the scheme and a notice of scheme meeting, will be posted to shareholders today. 4. SCHEME MEETING Shareholders are advised that application was made to the High Court of South Africa on 22 March 2005 to grant leave to convene the scheme meeting. The Order of Court and a notice of scheme meeting which is incorporated in the circular to be posted to shareholders, will also be published in the press today and on Sunday 27 March 2005. Sandton 23 March 2005 Merchant bank and joint sponsor Rand Merchant Bank Corporate Finance A Division of FirstRand Bank Limited Lead sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd (Registration number 1970/003711/07) Date: 23/03/2005 11:16:15 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
