AFRICAN BANK LIMITED - ABLS5-Results of Meeting

AFRICAN BANK LIMITED
(under Curatorship)
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(the "Bank')


RESULTS OF A MEETING OF THE HOLDERS OF THE SERIES OF ZAR 1 367 000 000 SUBORDINATED
NOTES DUE 29 JUNE 2024 (STOCK CODE ABLS5 AND ISIN ZAG000096744) (THE 'NOTES') ISSUED
BY THE BANK UNDER THE BANK'S ZAR 25 000 000 000 DOMESTIC MEDIUM TERM NOTE
PROGRAMME


The Bank announces today the results of the meeting convened for holders (the 'Noteholders') of the Notes
to vote in respect of the Extraordinary Resolution to sanction the Series Exchange Offer (including to consent
to certain releases and waivers) as set out in the Subordinated DMTN Consent and Exchange Offer
Document dated 4 February 2016 (the 'Exchange Offer Document') and the Notice of Meeting (as defined
below).


The results of the vote at the meeting of the Noteholders, convened by the notice dated 4 February 2016
(the 'Notice of Meeting') and held at the offices of Webber Wentzel, 90 Rivonia Road, Sandton 2196 on
1 March 2016 at 11h00 (Johannesburg time) to sanction the Extraordinary Resolution set out in such Notice
of Meeting are as follows:


   Stock Code           ISIN                        For               Against                Abstain
     ABLS5           ZAG000096744                   100%                 0%                     0%


The required majority to pass the Extraordinary Resolution, and thus sanction the Series Exchange Offer, is
66.67 per cent. of the votes cast at the meeting. The Extraordinary Resolution was passed, and accordingly
(i) the Series Exchange Offer was sanctioned in respect of the Notes, and (ii) all the Notes shall be blocked
and trading in the Notes will no longer be permitted in the clearing and settlement system of the CSD, in
accordance with the Exchange Offer Document.


Accordingly, the Bank may and is authorised, on the relevant Settlement Date and without the consent or
approval of the Noteholders, to effect the Series Exchange Offer in respect of all (but not some only) of the
Notes.


An announcement of the results of the One-on-One Exchange Offers and whether the Bank intends (subject
to the Settlement Condition) to accept Existing Subordinated Notes for exchange through either the One-on-
One Exchange Offers or the exercise of the Series Exchange Offers, as applicable, is expected to be made
on 2 March 2016 (all as respectively defined in the Exchange Offer Document).


On behalf of the Curator of African Bank Limited
Midrand
1 March 2016

Debt Sponsor

RAND MERCHANT BANK (a division of FirstRand Bank Limited)


Mr 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 T Winterboer acts in the aforesaid capacity.


Date: 01/03/2016 11:30:00 Supplied by www.sharenet.co.za                     
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