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Sharenet Sites
Quarterly update in terms of Section 1.10(c) of the JSE Listings Requirements
AFRICAN BANK LIMITED
(in Curatorship)
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank” or “the Bank”)
Quarterly update in terms of Section 1.10(c) of the JSE Listings Requirements
Stakeholders are referred to the statement regarding the Curatorship of African Bank ("the Curatorship") made
by the then Governor of the South African Reserve Bank ("SARB"), Ms. Gill Marcus, on 10 August 2014 ("the
SARB statement") and to the SENS announcements released by African Bank Investments Limited ("ABIL") and
African Bank on 26 September 2014, 10 December 2014, 3 March 2015 and 31 March 2015, and by African Bank
on 28 and 29 May 2015 ("the Restructuring SENS Announcements") and the announcement on 11 June 2015
(“the June 2015 Curatorship update”).
The SARB statement confirmed that Mr. Tom Winterboer was appointed as Curator of African Bank ("the
Curator") in terms of the Banks Act No. 94 of 1990 (as amended) on 10 August 2014. At the same time the SARB
statement set out a proposal for the restructuring of African Bank, which entailed the creation of a new "Good
Bank" ("the Good Bank Restructuring Proposal"). Further detail about the Good Bank Restructuring Proposal
has been communicated to stakeholders in the Restructuring SENS Announcements.
As at the date of the announcement the only additional information is that the Banks Act Amendment Bill, 2014,
was signed into law with effect from 29 June 2015.
The Curator is currently not able to give a date on which the suspension, in securities of African Bank,
respectively, is expected to be lifted.
On behalf of the Curator of the Bank
Midrand
30 June 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Footnote : T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by the Minister of
Finance of the Republic of South Africa and pursuant to the Banks Act No. 94 of 1990 (as amended) to manage
the affairs of African Bank Limited subject to the supervision of the Registrar of Banks. Please note that Mr
Winterboer acts in the aforesaid capacity.
Date: 30/06/2015 08:00:00 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.
