DISCOVERY LIMITED - Banking Licence Granted

Banking Licence Granted

Discovery Limited  
(Registration number 1999/007789/06)  
(Incorporated in the Republic of South Africa)  
Ordinary share codes: DSY and DSBP 
ISIN: ZAE000022331 and ZAE000158564 
(“Discovery”)  

Banking Licence Granted 

Shareholders are referred to the announcement released on the Stock Exchange News Service on 25 
October 2016, wherein they were advised that Discovery had received authorisation from the 
Registrar of Banks (the “Registrar”) to establish a banking presence in the Republic of South Africa 
(the “Republic”), which authorisation was granted in terms of Section 13(1) of the Banks Act, Act No. 
94 of 1990 (the “Banks Act”). 

Shareholders are now advised that NewDisc Limited (to be renamed Discovery Bank Limited “the 
Bank”) has been granted a banking licence in the Republic by the Registrar in terms of Section 17(1) 
of the Banks Act.  

The grant of the banking licence is subject to specific regulatory conditions, including conditions 
relating to the proposed shareholding in the Bank and Competition Commission approval. In 
addition certain other regulatory approvals are still required to complete the transactions proposed. 

Discovery awaits the Competition Commission’s final response and is in the process of assessing the 
implications of the conditions. Shareholders will be informed of further developments and progress 
in the development of Discovery Bank Limited when appropriate. 

Sandton  
16 October 2017 
 
Sponsor  
RAND MERCHANT BANK (A division of FirstRand Bank Limited)  
 

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