Standard Bank Prescribed Officer’s Million Rand Deal

  • Ms. F Z Montjane, a Standard Bank Group prescribed officer, sold 10,000 shares worth R1.88 million on October 13, 2023.
  • Transparent Disclosure: The transaction, in compliance with JSE regulations, showcased Standard Bank Group's commitment to transparency and adherence to market standards.
  • Market Confidence: Montjane's sale at R188.0525 per share demonstrated confidence in the bank's value, reinforcing investor trust amid market uncertainties.
By Lethabo Ntsoane

In a recent transaction that has caught the attention of the South African financial market, Ms. F Z Montjane, a prescribed officer of Standard Bank Group Limited, made headlines by selling 10,000 Standard Bank Group Ordinary Shares on 13th October 2023. The sale, conducted on the open market, amounted to a significant R1,880,525.00.

This move was disclosed in compliance with sections 3.63 to 3.74 of the Listings Requirements of the JSE Limited. Ms. Montjane’s direct beneficial interest in the shares and the transparent disclosure of the transaction highlight Standard Bank Group’s commitment to regulatory compliance and transparency in financial dealings.

Details of the Transaction:

Transaction DetailsInformation
Nature of InterestDirect Beneficial
Date of Transaction2023-10-13
Nature of TransactionOn-market sale
Number of Shares Sold10,000
Selling Price per ShareR188.0525
Total Value of TransactionR1,880,525.00
Clearance to Deal ObtainedYes

Ms. Montjane’s decision to sell the shares at R188.0525 each reflects her confidence in the market value of Standard Bank Group Limited. This move also emphasizes the prescribed officer’s adherence to regulatory protocols, as clearance for the deal was duly obtained.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo