Update announcement regarding Central Bank of Nigeria investigation into client remittances by Stanbic IBTC Standard Bank Group Limited (Incorporated in the Republic of South Africa) (Registration number 1969/017128/06) JSE share code: SBK NSX share code: SNB ISIN: ZAE000109815 SBKP ZAE000038881 (First preference shares) SBPP ZAE000056339 (Second preference shares) JSE bond code: SBKI (“Standard Bank Group” or “the Group”) Update announcement regarding Central Bank of Nigeria (“CBN”) investigation into client remittances by Stanbic IBTC Bank PLC relating to MTN Nigeria Communications Limited As an update hereto, the Group advises that in respect of the penalty of NGN 1.886 billion (approximately ZAR 75 million / USD 5.2 million) imposed by the CBN on our banking subsidiary Stanbic IBTC Bank PLC (the “Bank”), in relation to the remittance of foreign exchange on the basis of certain Certificates of Capital Importation issued to MTN Nigeria Communications Limited, the CBN has debited the Bank’s account with the CBN for the amount of the aforementioned penalty. This action by the CBN does not preclude the Bank from engaging with the CBN and the Group hereby confirms that it remains the intention of the Bank to continue to do so. The cautionary announcement of 30 August 2018 remains in place. Standard Bank Group will continue to update its shareholders. Johannesburg 6 September 2018 Lead sponsor The Standard Bank of South Africa Limited Independent Sponsor Deutsche Securities (SA) Proprietary Limited Namibian sponsor Simonis Storm Securities (Proprietary) Limited Date: 06/09/2018 04:43:00 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.
Email this JSE Sens Item to a Friend.