KOMATI BASIN WATER AUTHORITY - Komati Basin Water Authority Private Placing Document - KW01

Komati Basin Water Authority Private Placing Document - KW01

Komati Basin Water Authority
Established in terms of the Treaty on the Development and Utilisation of Water Resources of the
Komati River Basin
Stock Code: KW01
ISIN Code: ZAG000016296
(“KOBWA” or “the Issuer”)


KOMATI BASIN WATER AUTHORITY PRIVATE PLACING DOCUMENT



1.1.       Reference is made to (a) the Komati Basin Water Authority Private Placing Document dated
           27 October 1997 ("Placing Document") prepared by Komati Basin Water Authority ("Issuer") in
           respect of the private placing of KOBWA Registered Loan Stock (Loan No. 1), (13.50% coupon,
           redeemable on 31 October 2027) to a maximum value of R380 million and (b) the amended JSE
           Debt Listings Requirements (effective 15 October 2018) ("Amended JSE Debt Listings
           Requirements"). References in this announcement to any Section are to that Section of the
           Amended JSE Debt Listings Requirements.

1.2.       Unless otherwise defined in this SENS announcement, capitalised terms used in this SENS
           announcement bear the meanings ascribed to them in the section of the Placing Document
           headed "Terms and conditions of the issue" ("Terms and Conditions").

1.3.       The Issuer hereby advises that:

           a)     Section 7.26 provides for the procedure to amend the Terms and Conditions (including
                  the Applicable Terms and Conditions).

           b)     The provisions of Section 7.26 apply to the Placing Document.

           c)     Section 7.27 provides, in relation to meetings of Noteholders, (i) for the applications of
                  the sections in the Companies Act, 2008 ("Companies Act") that relate to "notice of
                  meetings", "conduct of meetings" and "meeting quorums and adjournment" as if the
                  references in such sections to "shareholders" and "company", respectively, were
                  references to "Noteholders" and "Issuer" respectively (ii) for such meeting to be
                  announced on SENS and for the announcement to state the date that the Issuer has
                  selected to determine which Noteholders recorded in the Register will receive the notice
                  of meeting and the last date by which proxy forms must be submitted, (iii) for voting by
                  proxy and (iv) for the application of the sections in the Companies Act that provide for the
                  form of proxy form. Section 7.28 provides that a written resolution to Noteholders must
                  state the date that the Issuer has selected to determine which Noteholders recorded in
                  the Register will receive the notice of written resolution.

           d)     The provisions of Section 7.27 and Section 7.28 apply to the Placing Document.

           e)     The Issuer confirms that, at the time the next update is required to be made to the
                  Placing Document in terms of Section 7.24 (as read with Section 7.25) or for any other
                  reason, the Issuer will procure that such update will provide, in addition, for the Terms
                  and Conditions to be amended to reflect (a) the provisions of Section 7.26 and (b) the
                  provisions of Section 7.27 and Section 7.28.

           f)     The Amended JSE Debt Listings Requirements are available on the JSE’s website at
                  www.jse.co.za.
Johannesburg
20 December 2018

Debt Sponsor
Merchantec Capital

Date: 20/12/2018 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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