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THE LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA - Commencement of legal proceedings by lender and continuation of the Liability Solution

Release Date: 25/08/2020 16:30:00      Code(s): LBK38 LBK28 LBK24 LBK22 LBK23 LBK20 LBK29 LBK33 LBK18 LBK30 LBK31 LBK27 LBK26 LBK37 LBK35 LBK15 LBK32       PDF(s):  
Commencement of legal proceedings by lender and continuation of the Liability Solution

The Land and Agricultural Development Bank of South Africa
(JSE Code: BILB)
(the “Land Bank” or the “Issuer”)


Commencement of legal proceedings by lender and continuation of the Liability Solution

On 18 August 2020, Standard Chartered Bank served an application out of court on the Land Bank to recover
certain debt from the Land Bank. Land Bank is working with its advisers and will be opposing the application.

Land Bank continues to engage with its financial creditors as it works towards the Liability Solution as
discussed in the SENS announcement released on 7 August 2020.

Noteholders and potential investors are advised to continue to exercise caution when dealing in the Land
Bank’s notes and securities.

Noteholders will be kept appraised of developments.

25 August 2020


Enquiries

Land and Agricultural Development Bank of South Africa

Ayanda Kanana, Chief Executive Officer
Khensani Mukhari, Chief Financial Officer
Rebecca Phalatse, General Manager: Marketing and Communications – Tel: 074 159 6833

Debt Sponsor
The Standard Bank of South Africa Limited, acting through its Corporate and Investment Banking division
(registration number: 1962/000738/06)

Contacts:
Ms Natalie Di-Sante
Email: Natalie.di-sante@standardbank.co.za
Tel: +27 (0) 11 721 6125

Date: 25-08-2020 04:30:00
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