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SBK / SNB - Standard Bank Group Limited - Fulfilment of conditions precedent and

Release Date: 14/02/2008 16:00
Code(s): SBK
Wrap Text

SBK / SNB - Standard Bank Group Limited - Fulfilment of conditions precedent and implementation information 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: ZAE000057378 ("Standard Bank Group") FULFILMENT OF CONDITIONS PRECEDENT AND IMPLEMENTATION INFORMATION Further to the announcement released on the Securities Exchange News Service ("SENS") of the JSE Limited ("JSE") and published in the press on Monday, 4 February 2008 and Tuesday, 5 February 2008, respectively, Standard Bank Group announces that the outstanding conditions precedent to the scheme of arrangement in terms of section 311 of the Companies Act, 1973, as amended, proposed by Industrial and Commercial Bank of China Limited ("ICBC"), between Standard Bank Group and its ordinary shareholders ("the Scheme"), and the specific issue of shares for cash to ICBC have now been fulfilled. Accordingly, the dates and times for the implementation of the transaction are as follows: Effective date of the transaction on Friday, 15 February 2008 Last day to trade Standard Bank Group ordinary shares on the JSE in order for ordinary shareholders to be eligible to receive the scheme consideration on Friday, 22 February 2008 Standard Bank Group ordinary shares will trade under the new ISIN number ZAE000109815 from the commencement of trading on the JSE on Monday, 25 February 2008 Record date, being the date on which ordinary shareholders must be recorded in the register of members of Standard Bank Group in order to be scheme participants and so become entitled to receive the scheme consideration, at close of business on Friday, 29 February 2008 Operative date of the Scheme, at the commencement of trading on the JSE on Monday, 3 March 2008 The scheme consideration to be transferred or posted (as the case may be), and new share certificates to be posted to certificated scheme participants whose documents of title are received by the transfer secretaries on or before the record date, on or about Monday, 3 March 2008 or Failing receipt of documents of title on or before 12h00 on the record date, within five business days of receipt thereof by the transfer secretaries The scheme consideration to be credited to dematerialised scheme participants` accounts held at their CSDPs or brokers and share balances updated with respect thereto on Monday, 3 March 2008 Current share certificates may not be dematerialised or rematerialised after Friday, 22 February 2008. Johannesburg 14 February 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 Date: 14/02/2008 16:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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