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Changes to the board
STANDARD BANK GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1969/017128/06
JSE and A2X Share code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
(“Standard Bank Group” or “the Company”)
RESIGNATION AND APPOINTMENT OF A NON-EXECUTIVE DIRECTOR
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
Standard Bank Group announces the resignation of Mr Lubin Wang as non-executive
director of the board of the Company with effect from 11 November 2021.
In his stead, the Company has appointed Mr Li Li to its board as a non-executive
director with effect from 11 November 2021.
Mr Li Li (44), holds a master’s degree in Economics from the University of
International Business and Economics. Mr Li Li joined Industrial and Commercial Bank
of China Limited (“ICBC”) in 2004. He currently serves as the Chief Representative
Officer of ICBC, Africa Representative Office and has held this position since October
2021.
He has held several positions within ICBC. Prior to his current role, Mr Li Li served
as the Deputy General Manager of the ICBC Zurich Branch from January 2018.
Mr Li Li’s appointment is effected in terms of an agreement between Standard Bank
Group and ICBC, a 20% shareholder of Standard Bank Group, wherein ICBC is entitled
to nominate two non-executive directors for appointment to the board.
Mr Li Li will also replace Mr Lubin Wang as non-executive director on the board
of The Standard Bank of South Africa Limited.
Standard Bank welcomes Mr Li Li and expresses its appreciation to Mr Lubin Wang for
his contribution to the boards.
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
JP Morgan Equities South Africa Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
11 November 2021
Date: 11-11-2021 10:15:00
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