SA public invited to buy shares in reserve bank

PRETORIA.-South African Reserve Bank g over nor(Sarb)L es etja Kganyago has announced the availability of nearly 150 000 shares for purchase to t he public.

Kganyago made the announcement in Pretoria yesterday morning.

The move follows a High Court ruling last year, which directed some reserve bank shareholders to sell their shares that were in excess of the statutory limit of 10 000.

Kganyago has encouraged South Africans to buy a share of t he central bank.

“Some 149200 shares in th eS a rb have become available for sale.

We’d like to use this opportunity to diversify our shareholder base .”

He says shareholders have no say on any policy decisions taken by executive management.

“However, the Sarb shareholders can elect a maximum of seven non-executive directors of the board of S ar bf roma list of can- didates approved by a panel chaired by t he governor of t he Sarb.”

Kganyago says i nterested buyers should contact Investec securities.

Kganyago urged South Africans to nominate experts for appointment as non- executive directors to the board, ahead of its next annual general meeting.

Kganyago says t he board is looking for experts with specific skills.

“I would l i ke to once again encourage all members of t he public to nominate candidates who have skills and experience in t he mining sector, labour sector and commerce or f inance sectors.”

He says shareholders are entitled to vote for board members.

“These votes are normally exercised at t he annual general meeting of t he Sarb and each shareholder is l i mited to one vote for every 200 shares held.”

Kganyago is now urging citizens to buy reserve bank shares to diversify its shareholder profile. - Eyewitness.