Statement re change of director classification

Standard Bank Group Limited

25 November 2024

 

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: [phone]

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.

 

END