[ Home ] [ Speeches & Statements ]

3 Oct 2011

Persons trading in the shares of the South African Reserve Bank (SARB) should
exercise great caution and should be mindful of the significant limitations and
restrictions placed by the SARB Act on shareholders and their shareholding in the
SARB.

The Bank is aware of the continuous agitation by a small group of SARB
shareholders for "nationalisation" or "expropriation" of their shares. This group of
shareholders is motivated by the hope that their shares will be valued against the
SARB’s net assets, resulting in them being paid out a pro rata portion of the SARB’s
reserves upon any expropriation. The aforementioned expectation is without legal
foundation and creates unrealistic expectations.

The SARB shares are not being expropriated. The reserves of the SARB are a
national asset and are held and administered by the SARB for the benefit of and in
the interest of the general public in South Africa. These expectations also appear to
form the basis of the unrealistic value of the SARB shares being offered for sale
internationally.

Enquiries:
Hlengani Mathebula
Tel: 012 313 4210

Issued by: South African Reserve Bank
3 Oct 2011

[ Top ]