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Voluntary Announcement: Bidvest Bank and Bidvest Life Disposals
THE BIDVEST GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1946/021180/06
Share code: BVT
ISIN: ZAE000117321
VOLUNTARY ANNOUNCEMENT: BIDVEST BANK AND BIDVEST LIFE DISPOSALS
Introduction
Following the 12 December 2024 Stock Exchange News Service ("SENS") announcement
dealing with the agreement signed to dispose of 100% of Bidvest Bank Holdings Limited
("Bidvest Bank"), The Bidvest Group Limited ("Bidvest") wishes to update stakeholders on the
disposal process.
Bidvest Bank
The Sale and Purchase Agreement entered into between Bidvest and Access Bank plc
included customary conditions precedent relating to the required regulatory approvals. The
parties have been actively working together to secure approvals. It is, however, unfortunate
that certain conditions were not fulfilled by Access Bank plc by the contractually agreed long
stop date resulting in the termination of the transaction.
The considered rationale behind the original Bidvest Financial Services division's restructure,
and disposal decision, remains a strategic imperative. Bidvest has now relaunched the
disposal process. We remain confident in our ability to successfully execute this disposal and
will endeavor to accelerate transaction timeframes.
Bidvest remains the sole shareholder and will continue to support Bidvest Bank to ensure it
continues to be financially sound and operationally stable during this transition period. Bidvest
Bank remains adequately capitalised, with all key ratios above minimum regulatory hurdles.
The well-being of employees and maintaining high-quality service standards for all clients
remain priorities.
Bidvest Life
Bidvest has concluded an agreement to dispose 100% of Bidvest Life to a private equity-led
financial services consortium. Key conditions precedent, including regulatory approvals, are
required to finalise this transaction and all parties are working toward achieving these.
Bidvest Bank and Bidvest Life will continue to be disclosed as a Disposal Group held for sale
in the consolidated Bidvest financial statements, as was the case in the financial year that
ended 30 June 2025.
Categorisation of the transaction
The disposal does not constitute a categorised transaction in terms of the Listings
Requirements of the JSE Limited and accordingly this information is disclosed on a voluntary
basis.
Johannesburg
Date: 9 February 2026
Sponsor: Investec Bank Limited
Date: 09-02-2026 12:15:00
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