Edition:
India

FirstRand Ltd (FSRJ.J)

FSRJ.J on Johannesburg Stock Exchange

5,473.00ZAc
17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

FirstRand ‍updates on impact of proposed acquisition of Aldermore on FirstRand Bank
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - FirstRand Ltd :‍IMPACT OF FIRSTRAND GROUP'S PROPOSED ACQUISITION OF ALDERMORE ON FIRSTRAND BANK LIMITED​.‍GOODWILL ARISING FROM ALDERMORE DEAL TO RESULT IN IMPAIRMENT AGAINST FIRSTRAND CAPITAL FOR PURPOSES OF DETERMINING CAPITAL ADEQUACY​.TO BACK GOODWILL ARISING FROM ALDERMORE DEAL WITH CET1 CAPITAL, PART OF WHICH WILL BE PROVIDED FROM BANK'S EXCESS REGULATORY CET1 CAPITAL​.RELATED TO ALDERMORE DEAL, ‍IF SCHEME BECOMES EFFECTIVE, SEES IMPACT ON FIRSTRAND BANK'S CET1 RATIO TO BE DELINE OF BETWEEN ABOUT 90-130 BASIS POINTS.  Full Article

Firstrand Ltd announces recommended cash offer for Aldermore Group Plc
Monday, 6 Nov 2017 

Nov 6 (Reuters) - FIRSTRAND LTD ::FIRSTRAND, ALDERMORE REACHED AGREEMENT ON RECOMMENDED CASH OFFER TO BE MADE BY FIRSTRAND OFFEROR FOR ALDERMORE​.‍OFFER VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALDERMORE AT APPROXIMATELY £1.1 BILLION​.‍CONSIDERATION PAYABLE UNDER OFFER WILL BE FUNDED FROM FIRSTRAND GROUP'S EXISTING CASH RESOURCES​.‍ALDERMORE DIRECTORS CONSIDER TERMS OF OFFER TO BE FAIR AND REASONABLE​.‍UNDER TERMS OF OFFER, ALDERMORE SHAREHOLDERS SHALL BE ENTITLED TO RECEIVE FOR EACH ORDINARY SHARE 313 PENCE IN CASH​.  Full Article

Firstrand to not waive due diligence completion condition on Aldermore deal
Monday, 16 Oct 2017 

Oct 16 (Reuters) - FIRSTRAND LTD::CONFIRMS IT WILL NOT WAIVE CONDITION ON COMPLETION OF DUE DILIGENCE, BUT CAN ELECT TO WAIVE CONDITION ON UNANIMOUS BOARD RECOMMENDATION​.  Full Article

FirstRand ‍confirms it approached Aldermore on possible offer​
Friday, 13 Oct 2017 

Oct 13 (Reuters) - FirstRand Ltd :‍CONFIRMS THAT IT HAS MADE AN APPROACH TO ACQUIRE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF ALDERMORE​.‍THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.‍FIRSTRAND IS REQUIRED BY 10 NOVEMBER EITHER TO ANNOUNCE A FIRM INTENTION TO MAKE AN OFFER FOR ALDERMORE​ OR SAY IT DOES NOT INTED TO MAKE AN OFFER​.  Full Article

Aldermore says in talks with South Africa's FirstRand over 313p/shr offer
Friday, 13 Oct 2017 

Oct 13 (Reuters) - Aldermore Group Plc ::ALDERMORE GROUP PLC - STMNT RE SHARE PRICE MOVEMENT.‍RECENTLY RECEIVED AN INDICATIVE PROPOSAL FROM FIRSTRAND LIMITED REGARDING A POSSIBLE OFFER​.ALDERMORE GROUP - ‍ALDERMORE AND FIRSTRAND ARE IN PRELIMINARY DISCUSSIONS ABOUT DETAILS OF POSSIBLE OFFER, WHICH IS SUBJECT TO A NUMBER OF STANDARD CONDITIONS​.ALDERMORE - ‍OFFER FOR ENTIRE ISSUED OF CO AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALDERMORE OF 313 PENCE PER ORDINARY SHARE IN CASH​.‍BOARD OF ALDERMORE HAS INDICATED TO FIRSTRAND THAT IT IS LIKELY TO RECOMMEND FIRM OFFER AT THIS LEVEL​.‍THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE OR AS TO TERMS ON WHICH ANY OFFER MIGHT BE MADE​.  Full Article

S. Africa Competition Tribunal approves Firstrand acquisition of MMI's property letting enterprise
Wednesday, 15 Jun 2016 

S. Africa's Competition Tribunal : Approved without conditions merger that will see Firstrand Bank acquire property letting enterprise from MMI Group (((Bengaluru Newsroom +91 806 749 1136);)).  Full Article

S. Africa's Competition Tribunal approves Firstrand Life-MMI Group deal
Wednesday, 18 May 2016 

Competition Tribunal : Approved without conditions Firstrand Life deal to acquire part of long-term insurance policy book of MMI Group . Approved without conditions merger whereby Petra Diamonds unit, Ekapa Minerals and Super Stone Mining formed JV (((Bengaluru Newsroom +91 806 749 1136);)).  Full Article

BRIEF-FirstRand ‍updates on impact of proposed acquisition of Aldermore on FirstRand Bank

* ‍IMPACT OF FIRSTRAND GROUP'S PROPOSED ACQUISITION OF ALDERMORE ON FIRSTRAND BANK LIMITED​