Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:STANBIC AFRICA HOLDINGS LIMITED (“SAHL”)
a wholly owned subsidiary of Standard Bank Group Limited (“SBG”)
PUBLIC NOTICE
EXEMPTION RECEIVED FROM CAPITAL MARKETS AUTHORITY
TO PERMIT ON-MARKET TRADING FOR A LIMITED PERIOD
Capital Markets (Take-overs and Mergers) Regulations, 2002
On 23 July 2018, SAHL announced the results of the tender offer to acquire additional ordinary shares in Stanbic Holdings Plc (“Stanbic Holdings”). In addition, SAHL announced that it was interested in raising its shareholding by purchasing shares from
those shareholders who may wish to sell their shares in the future and had applied to the Capital Markets Authority (“Authority”) to extend the exemption from making a full take-over offer granted by the Authority as part of the tender offer under Regulations 5(2)(a) of the Capital Markets (Take Over and Merger) Regulations, 2002.
SAHL is pleased to announce that the Authority has granted the requested extension for a period expiring on 31 December 2019. SAHL will acquire a maximum of 27,333,909 additional ordinary shares (the “Maximum Acquisition Shares”) available for sale on the Nairobi Securities Exchange in accordance with the applicable trading rules. If successful, SAHL’s shareholding will increase to a maximum of just under 75% of the
issued ordinary shares in Stanbic Holdings.
SAHL will, under the terms of this exemption, publish a notice of the increase in its shareholding at or around the earlier of the achievement of the Maximum Acquisition Shares or 31 December 2019.
For and on behalf of
Stanbic Africa Holdings Limited
17 August 2018 Pesa Nane plans to be shilingi when he grows up.
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