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STANDARD BANK GROUP LIMITED - Update on voluntary announcement regarding stocks of metal held in Qingdao Port in China

Release Date: 10/07/2014 08:50
Code(s): SBKP SBK SBPP     PDF:  
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Update on voluntary announcement regarding stocks of metal held in Qingdao Port in China

Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
NSX share code: SNB ZAE000109815
SBKP ZAE000038881 (First preference shares)
SBPP ZAE000056339 (Second preference shares)
(“Standard Bank Group” or “the group”)



Update on voluntary announcement regarding stocks of metal held in Qingdao Port in China

Further to Standard Bank Group’s voluntary announcement released on the Stock Exchange News
Service of the JSE Limited on 5 June 2014, the group advises that Standard Bank Plc has commenced
legal proceedings in Shandong Province, China, in respect of aluminium held at a bonded warehouse
facility in Qingdao Port.

These legal proceedings are part of a process undertaken by the group to take all available steps to
protect its position in respect of these stocks. The group’s gross exposure in respect of this
aluminium is equivalent to US$170 million.

The group has undertaken a review of all its base metal holdings in China and other countries and
advises that it has further exposure to aluminium at other bonded warehouse facilities in Shandong
Province. We are also commencing legal proceedings to secure our position with respect to this
aluminium for which the related gross exposure is equivalent to US$40 million.

The financial consequences of these exposures remain subject to assessment and will be addressed
in the group’s interim results which will be released on 14 August 2014.

Johannesburg
10 July 2014

Lead sponsor
The Standard Bank of South Africa Limited

Independent sponsor
Deutsche Securities (SA) Proprietary Limited

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