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STANDARD BANK GROUP LIMITED - SBG-Withdrawal of Cautionary

Release Date: 25/09/2018 11:48
Code(s): SBKP SBPP     PDF:  
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SBG-Withdrawal of Cautionary

Standard Bank Group Limited

(Incorporated in the Republic of South Africa)

(Registration number 1969/017128/06)

SBKP ZAE000038881 (First preference shares)

SBPP ZAE000056339 (Second preference shares)

JSE bond code: SBKI

(“Standard Bank Group” or “the Group”)



WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders of Standard Bank Group (“Shareholders”) are referred to the cautionary
announcement dated 30 August 2018, and the subsequent update announcement dated 6
September 2018, in terms of which Shareholders were advised that the Central Bank of Nigeria
(“CBN”) had imposed a penalty on Stanbic IBTC Bank PLC (“Stanbic IBTC Bank” or “the Bank”)
relating to the remittance of foreign exchange on behalf of MTN Nigeria Communications Limited
(“MTN Nigeria”) and requested that the funds remitted by the Bank on behalf of MTN Nigeria be
refunded to the CBN.

Shareholders are hereby notified that the CBN has written to advise the Bank that it will examine
new submissions and documentations made by the Bank, and where justified, it will review its
earlier decision on the penalty it imposed on the Bank. The Bank had communicated that it believed
that it had acted properly in an agency capacity.

Furthermore, the CBN has confirmed that the Bank will not be debited for USD2.632 billion which
the CBN had previously suggested that the Bank should also be prepared to refund.

The Bank will continue its engagements with the CBN.

As the financial impact of the penalties levied by the CBN on the Bank has been published and
sufficient clarity has now been provided by the CBN regarding the Bank’s relationship to the refund
sought by the CBN, caution is no longer required to be exercised by Shareholders when dealing in
their Standard Bank Group securities.

Johannesburg

25 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: 25/09/2018 11:48:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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