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SBK - Standard Bank Group Limited - Results of the scrip distribution

Release Date: 26/04/2010 11:56
Code(s): SBK
Wrap Text

SBK - Standard Bank Group Limited - Results of the scrip distribution 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: ZAE000109815 ("Standard Bank Group" or "the Company") RESULTS OF THE SCRIP DISTRIBUTION In the announcement of the Company`s annual results for the year ended 31 December 2009 released on the Securities Exchange News Service of the JSE Limited ("SENS") on Thursday, 4 March 2010 and published in the South African and Namibian press on Friday, 5 March 2010, Standard Bank Group ordinary shareholders were advised that the directors of Standard Bank Group had resolved to issue fully paid ordinary shares of 10 (ten) cents each in the Company as a scrip distribution, payable to Standard Bank Group ordinary shareholders recorded in the register of the Company on the record date, being Friday, 23 April 2010. In terms of the announcement Standard Bank Group ordinary shareholders would be entitled, in respect of all or part of their shareholding, to elect to receive a cash dividend of 245 cents per Standard Bank Group ordinary share in lieu of the scrip distribution, failing which they would receive the scrip distribution. The last day to trade to participate in the scrip distribution was Friday, 16 April 2010. The number of Standard Bank Group ordinary shares to which Standard Bank Group ordinary shareholders participating in the scrip distribution would become entitled, was determined in the ratio that 245 cents multiplied by 1,05 bears to 11 565 cents which equates to 22,24384 new ordinary shares per every 1 000 shares held, being the volume weighted average price of the Company`s ordinary shares on the exchange operated by the JSE Limited during the five-day trading period ended Thursday, 8 April 2010. The rounding principle was applied to fractions. Standard Bank Group ordinary shareholders holding 664 336 001 Standard Bank Group ordinary shares elected to receive the cash dividend of 245 cents per Standard Bank Group ordinary share, resulting in a total cash dividend of R 1 627 623 202.45 being paid out of the profits of the Company. Accordingly, 19 979 912 Standard Bank Group ordinary shares were issued to Standard Bank Group ordinary shareholders in terms of the scrip distribution resulting in a capitalisation out of the share premium of the Company of R 1 997 991.20. Share certificates and dividend cheques, where applicable, were dispatched to certificated shareholders at their risk, and the Central Securities Depository Participant/broker accounts of dematerialised shareholders were credited, today. Johannesburg 26 April 2010 Lead Sponsor Standard Bank Independent Sponsor Deutsche Securities (SA) Proprietary Limited Sponsor in Namibia Simonis Storm Securities Date: 26/04/2010 11:56:01 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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