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FSR/MET - FirstRand/Metropolitan - Update on proposed merger between Momentum

Release Date: 15/06/2010 12:00
Code(s): MET FSR
Wrap Text

FSR/MET - FirstRand/Metropolitan - Update on proposed merger between Momentum and Metropolitan and further cautionary announcement FirstRand Limited (Registration number 1966/010753/06) Share code: FSR ISIN: ZAE000066304 ("FirstRand") Metropolitan Holdings Limited (Registration number 2000/031756/06) Share code: MET ISIN: ZAE000050456 ("Metropolitan") Momentum Group Limited (Registration number 1904/002186/06) ("Momentum") UPDATE ON PROPOSED MERGER BETWEEN MOMENTUM AND METROPOLITAN AND FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the cautionary announcements dated 31 March 2010 and 17 May 2010 wherein shareholders of FirstRand and Metropolitan were advised of the proposed merger and that the due diligence investigations and regulatory approval processes were still underway. The due diligence investigation and negotiations are progressing well and will be completed shortly following which an announcement containing further details about the proposed merger will be released. Shareholders are accordingly advised to continue to exercise caution when dealing in FirstRand and Metropolitan shares until the aforementioned announcement is made. 15 June 2010 Merchant bank and sponsor to FirstRand and Momentum RAND MERCHANT BANK (A division of FirstRand Bank Limited) Legal Advisors to FirstRand and Momentum Webber Wentzel Actuaries to the Proposed Transaction Deloitte Metropolitan Financial Advisor and Joint Transaction Sponsor Fidelis Partners Metropolitan Joint Transaction Sponsor Merrill Lynch South Africa (Pty) Limited Legal Advisors to Metropolitan Edward Nathan Sonnenbergs FirstRand and Metropolitan Sponsor in Namibia Simonis Storm Securities Date: 15/06/2010 12:00:33 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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