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SST203-Financial Assistance Notice
STANDARD BANK GROUP LIMITED
REGISTRATION NUMBER 1969/017128/06)
Financial Assistance - Notice in terms of section 45(5) of the Companies
Act No 71 Of 2008 as amended
Noteholders are advised that at the annual general meeting of the
Standard Bank Group Limited (the “company”) held on 31 May 2022,
shareholders approved and passed a special resolution in terms of Section
45 of the Companies Act No 71.of 2008, as amended (the Act) authorising
the company to provide financial assistance to any company or corporation
which is related or inter-related to the company (as defined in the
Companies Act), on the terms and conditions which the directors of the
company may determine.
Notice is hereby given in terms of Section 45(5)(a) of the Act that the
Board of Directors (the “board”) of the company approved a resolution
on 27 February 2023 to provide financial assistance, in terms of Section
45(2) of the Act, to The Standard Bank of South Africa Limited (“SBSA”),
a wholly-owned subsidiary of the company.The financial assistance relates to the down streaming
to SBSA of the proceeds of a Tier 2 capital bond issued by the company to the value of R2.0 billion.
The board of the company has confirmed that, after considering the
reasonable foreseeable financial circumstances of the company, it is
satisfied that, immediately after providing such financial assistance,
the company would satisfy the solvency and liquidity test, as
contemplated in terms of Section 4 of the Act and that the terms under
which such financial assistance was given were fair and reasonable to
the Company.
Dated 13 March 2023
For further information contact:
Standard Bank
Jan Brits
Email: jan.brits2@standardbank.co.za
Debt Sponsor: The Standard Bank of South Africa Limited
Date: 13-03-2023 09:32:00
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