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STANDARD BANK GROUP LIMITED - Resignation of non-executive director

Release Date: 24/02/2020 17:48
Code(s): SBK     PDF:  
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Resignation of non-executive director

Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE and A2X Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(“Standard Bank Group” or “the Company”)


In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
Standard Bank Group announces the resignation of Dr Hao Hu as non-executive director
on the boards of directors of Standard Bank Group and The Standard Bank of South
Africa Limited with immediate effect. Consequently, Dr Hu also steps down as the
deputy chairman of Standard Bank Group.

Dr Hu is one of two non-executive directors nominated by Industrial and Commercial
Bank of China Limited (“ICBC”) to serve on Standard Bank Group’s board of directors.
ICBC as a 20% shareholder of Standard Bank Group is entitled to nominate two non-
executive directors for appointment to the board of the Company, one of whom serves
as deputy chairman. ICBC will nominate a replacement candidate in due course.

The Boards extend their appreciation to Dr Hu for his contribution to the group.

24 February 2020

Lead sponsor
The Standard Bank of South Africa Limited

Independent sponsor
JP Morgan Equities South Africa Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

Date: 24-02-2020 05:48:00
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