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Choppies Renewal of Cautionary Announcement

Shareholders have been referred to the various announcements regarding the delay in the publication of the Company’s financial results for the year ended 30 June 2018 and the related cautionary statements published on 27 September 2018 and 18 October 2018. Choppies has advised shareholders that the Company is progressing the matters referred to in the announcements regarding the delay in the publication of the financial results. Shareholders have been further informed that as per the announcement published on 01 November 2018, the trading of the Company shares on both the BSE and JSE remains suspended until the Company complies with the BSE listing requirements or until further notice. The Company’s primary listing is on the Botswana Stock Exchange and its secondary listing is on the Johannesburg Stock Exchange.   more >>

Stanchart Capital Raise Announcement

Standard Chartered Bank Botswana Limited (“SCBB”) has announced it seeks to raise capital by way of an issuance of Undated Unsecured Non-Cumulative Subordinated Capital Securities in the sum of BWP 400 million (“the Capital Securities”) to Standard Chartered Bank (“SCB”), a company incorporated in England by Royal Charter (with reference cumber ZC18), which company, as the last practicable date (being 31 January 2018) held 0.831% of the issued ordinary shares of SCBB and is a holding company of Standard Chartered Holdings (Africa) BV which as at the last practicable date (being 31 January 2018) held 74.156% of the issued ordinary shares of SCBB, and therefore a related party. The terms of the Capital Securities will be documented by way of an agreement between SCB and SCBB. As at 31 January 2018, SCBB has (i) BWP 247.26 million of Tier 2 Capital in issue in the form of subordinated notes issued under the Company’s P500million Debt Issuance Programme and (ii) subordinated debt in the total sum of BWP 389 million owing to SCB. In order to continue to meet the minimum capital requirements of Bank of Botswana, and to create a cushion against unexpected impairments caused by a difficult business environment SCBB intends to issue the Capital Securities in the total amount of BWP 400 million, which will comprise Additional Tier 1 Capital for the Bank, to SCB and utilise part of that capital to retire the BWP 247.26 million of Tier 2 Capital by exercise of SCBB’s right of redemption. The pricing shall be the distribution rate which shall be the bench mark rate plus the spread. The distribution rate means the rate in percentage per annum, notified by the Issuer to the Security Holder, equal to the yield on the Government of Botswana bonds, having a maturity of five years as set forth in the Bank of Botswana PULF Reuters page that is published daily by the Bank of Botswana at 1500hrs. The spread shall be 3.75% per annum. The transaction does not involve any assets. It is a capital injection which results in the creation of an asset in the form of cash and a liability of the same amount with a zero net impact. The effect on the net asset per share is nil. The transaction will benefit SCBB by ensuring an adequate capital position for the bank and provide it with the ability to support asset growth in line with its strategic agenda.   more >>