Standard Bank Group Limited
The Standard Bank of South Africa
Limited
25 November 2024
CHANGES TO A DIRECTOR'S CLASSIFICATION AND
RESPONSIBILITIES
Shareholders are advised of the
following changes to a Standard Bank Group and The Standard Bank of
South Africa Limited (SBSA) director's classification and
responsibilities, which will take effect from 1 January
2025.
The South African Reserve Bank (SARB)
Prudential Authority's Directive 4 of 2018 (the Directive), which
came into effect in April 2020, applies to South African registered
banks and their controlling companies. In terms paragraph 8.1.2.8,
any independent non-executive director who has served on the board
for a period of nine years or longer, and remains a member of the
board after the aforementioned period, shall for the purpose of the
Directive be deemed to no longer be independent.
Martin Oduor-Otieno was appointed to
the boards of Standard Bank Group and SBSA on 1 January 2016 and,
in terms of the provisions of the Directive, will be reclassified
as a non-executive director with effect from 1 January 2025. He
will relinquish his membership of the Group and SBSA Audit
Committees upon his reclassification.
For further information, please
contact:
Marc Hearn
Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: +27 11 344
5004
DISCLAIMER
This Announcement is not intended
to, and shall not, constitute or contain an offer to sell or
solicitation of an offer to purchase the securities referred to
herein by any person in any jurisdiction where it is unlawful to
make an offer or solicitation. The distribution of the Announcement
and the offer or sale of the securities referred to herein in
certain jurisdictions is restricted by law. This Announcement may
not be used for or in connection with, and does not constitute, any
offer to, or solicitation by, anyone in any jurisdiction or under
any circumstance in which such offer or solicitation is not
authorised or is unlawful.
In the United Kingdom, this
Announcement is being distributed only to, and is directed only at,
persons who are (i) investment professionals, as such term is
defined in Article 19(5) of the U.K. Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (as amended, the
Financial Promotion Order);
(ii) persons falling within Article 49(2)(a) to (d) ("high net
worth companies, unincorporated associations, etc.") of the
Financial Promotion Order; (iii) outside the United Kingdom; or
(iv) persons to whom an invitation or inducement to engage in
investment activity (within the meaning of Section 21 of the
Financial Services and Markets Act 2000) in connection with the
issue or sale of any Notes may otherwise lawfully be communicated
or caused to be communicated.
The securities referred to herein
have not been and will not be registered under the US Securities
Act of 1933, as amended (the Securities Act), or with any securities
regulatory authority of any state or other jurisdiction of the
United States, and may not be offered or sold in the United States
or to US persons (as such term is defined in Regulation S under the
Securities Act) except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the US
Securities Act. The issuer of the securities has not registered,
and does not intend to register, any portion of the offering in the
United States, and does not intend to conduct a public offering of
the securities in the United States.
Your right to access this service is
conditional upon complying with the above requirement.
