Since its establishment, the Reserve Bank has always been privately owned. Today the Bank has more than 660 shareholders and its shares are traded on an Over- the-Counter Share Transfer Facility market (OTCSTF market) co-ordinated within the Reserve Bank. Except for the provision of the SA Reserve Bank Act that no shareholder shall hold, or hold in aggregate with his, her or its associates, more than 10 000 shares of the total number of 2 000 000 issued shares, there is no limitation on shareholding.
After allowing for certain provisions, payment of company tax on profits, transfers to reserves and dividend payments of not more than 10 cents per share to shareholders, the surplus of the Bank's earnings is paid to the Government. The Bank's operations are therefore not driven by a profit motive, but by serving the best interests of all the people in South Africa.
The Bank was delisted from the JSE Securities Exchange South Africa on 2 May 2002 and a live trading facility for its shares introduced on 1 October 2005. The live trading facility operates in terms of the OTCSTF rules. As such, it is not an on screen trading facility, but rather operates by means of postal, facsimile, hand delivery or e-mail communication only.
For further information, please contact Mr. Bertus Brand or Mrs Linda Bates (OTCSTF@resbank.co.za).
Further information can also be obtained here: -