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CAPITEC BANK HOLDINGS LIMITED - National Credit Regulator Notice

Release Date: 30/05/2013 14:25
Code(s): CPI     PDF:  
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National Credit Regulator Notice

Capitec Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/025903/06)
(JSE share code: CPI & ISIN : ZAE000035861 and CPIP :
ISIN : ZAE000083838)
("Capitec" or "the company")

Capitec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1980/003695/06)
Company code: BICAP
(“Capitec Bank” or “the Bank”)


NATIONAL CREDIT REGULATOR NOTICE

On 27 March 2013 our results for the year ended 28
February 2013 were published containing the following
note:

“CONTINGENT LIABILITY
On 22 February 2013 a notice was received from the
National Credit Regulator (“NCR”), alleging
contraventions of the National Credit Act 34 of 2005
(“the Act”) including in relation to initiation fees
charged on one product. It is not practicable to
estimate its financial effect or the amount of any
possible outflow. The Bank has investigated the
allegations and has taken legal advice, and believes the
matter will be satisfactorily resolved through due
process.”

On 28 May 2013 a notice was received from the NCR
referring the matter to the National Consumer Tribunal.
It remains impracticable to estimate its financial effect
or the amount of any possible outflow, and the Bank
remains of the view that the matter will be
satisfactorily resolved through due process, which has
now commenced.

30 May 2013

Stellenbosch
Sponsor
PSG Capital (Pty) Limited

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