Standard Bank executive transfers N$2.94m in shares to family trust
STANDARD Bank Group executive director Sim Tshabalala has transferred 9 794 ordinary shares in the banking group, valued at about R2.94 million, to the Ng’lala Trust, of which he is both a trustee and a beneficiary.
The transaction, concluded on 21 October and disclosed on the Johannesburg Stock Exchange’s Securities Exchange News Service on 23 October, was conducted at the market price of R300.13 per share.
Standard Bank Group says the transaction was an off-market disposal by Tshabalala and a corresponding acquisition by the trust.
The disclosure lists Tshabalala’s interest in the disposal as direct beneficial, while the trust’s interest in acquiring the shares is classified as indirect beneficial.
According to the announcement, the trust’s investment portfolio is managed by Melville Douglas Investment Management (Pty) Ltd.
The company also confirmed that clearance to deal had been obtained for the transaction.
Standard Bank Group is listed on the Johannesburg Stock Exchange (JSE), the Namibian Securities Exchange (NSX) and A2X Markets.
Its ordinary shares trade under the code SBK on the JSE and SNB on the NSX.
Nictus subsidiarydirector’s associate buys N$300 000 in shares
• SHANIA LAZARUS
AN associate of a Nictus Holdings subsidiary director has bought 66 666 shares in the company for nearly N$300 000 in an off-market transaction.
A disclosure published on 23 October shows that Schanzen Road Investments CC purchased the shares at N$4.50 each on 22 October, bringing the total value of the transaction to N$299 997.
Schanzen Road Investments is a close corporation of BJ Gous, a director of Corporate Guarantee and Insurance Company of Namibia, a wholly owned subsidiary of Nictus Holdings.
The transaction gives the close corporation an indirect beneficial interest in Nictus, which is listed on the NSX under the share code NHL.
Nictus says the transaction was conducted off-market and that clearance had been obtained from the company’s chairman.
The disclosure was made in accordance with the NSX Listings Requirements governing dealings in securities by directors and their associates.
