STANDARD BANK OF SOUTH AFRICA LD - SCIB: - Adjustment to the T's & C's of the BHP Billiton Plc warrants

SCIB: - Adjustment to the T's & C's of the BHP Billiton Plc warrants

The Standard Bank of South Africa Limited
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK BHP BILLITON PLC WARRANTS

Following the BHP Billiton PLC (“BIL”) announcement on 7th May 2015 regarding the
demerger dividend, BIL will unbundle its interest in South 32 Limited (“S32”) to
Shareholders. Each Shareholder will receive one S32 share for each BIL share held.

Following this announcement, notice is hereby given that the Issuer will amend the
Terms and Conditions of the warrants. Warrant holders will not receive any shares
but the value of the S32 shares will be used to adjust the Strike and Conversion Ratio
of the warrants to place the warrant holder in the same financial position they were
prior to the unbundling ex-date.

The following warrants will be affected by this corporate action:

Existing Terms

      ISIN          JSE Code      Exercise     Conversion   Expiry       Exercise Style
                                   Price        Ratio
  ZAE000197422        BILSBJ      R 315.00      85 : 1      07-Jul-15     American Call

  ZAE000199014        BILSBL      R 280.00      80 : 1      04-Aug-15     American Call

  ZAE000200937        BILSBM      R 250.00      90 : 1      02-Sep-15     American Call

  ZAE000199022        BILSBU      R 245.00      80 : 1      04-Aug-15     European Put

  ZAE000204467        BILSBV      R 260.00      80 : 1      01-Dec-15     European Put



New Terms

       ISIN          JSE Code     Exercise   Conversion      Expiry     Exercise Style
                                   Price       Ratio
  ZAE000197422        BILSBJ        TBA          TBA        07-Jul-15    American Call

  ZAE000199014        BILSBL        TBA          TBA        04-Aug-15    American Call

  ZAE000200937        BILSBM        TBA          TBA        02-Sep-15    American Call

  ZAE000199022        BILSBU        TBA          TBA        04-Aug-15    European Put

  ZAE000204467        BILSBV        TBA          TBA        01-Dec-15    European Put

The Effective Date of the adjustment shall be at close of business on the 18th May 2015.

For further information contact:
Standard Bank Warrants
Tel 0800 111 780
Email: derivatives@standardbank.co.za
Issuer: The Standard Bank of South Africa Limited
Sponsor: SBG Securities (Pty) Limited

The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the
above-mentioned Warrants.

This Notice together with the Common Terms Document and Conditions Annexure
record the terms and conditions of the agreement between the Parties. Any terms
used in this Notice which are defined in the Common Terms Document, Conditions
Annexure and the relevant Supplements shall bear the meaning ascribed to them
therein, unless specifically stated otherwise herein. Other than as set out herein, the
terms and conditions set out in the Common Terms Document, Conditions Annexure
and relevant Supplements remain unchanged and in full force and effect.

12-May-2015

Date: 12/05/2015 12:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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