INVESTEC BANK LIMITED - Breached barrier- EXXIHC

Breached barrier- EXXIHC

INVESTEC BANK LIMITED
NOTICE OF BARRIER FOR HOT ENHANCED DIVIDEND EXXIHC

Share                              Exxaro Resources Limited



Strike Price                       R 106.00
Stop-Loss Level                    R 120.00
Expiry Date                        2015/04/17
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         250 000
JSE Code                           ZAE000190732




Investec Bank Limited, as Issuers of the above EXXIHC, Hot Enhanced Distribution Security (HOT EDS), advised
Holders that due to the breach of the stop loss level of R120.00 in the Underlying Share, as of close of business
Friday, 24 October 2014 the abovementioned Hot Enhanced Distribution Security (HOT EDS) has been terminated.

The Rebate Payment, represented by the number of HOT EDS held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R106.00 This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on, 27 October 2014 = R 118.1076
The VWAP on, 28 October 2014 = R 119.6852
The simple average of the 2 day VWAP = R 118.8964

Holders will receive R 12.8964 for every warrant held.



30 October 2014

Copies of the offering circular may be obtained from:
        Investec Bank Limited
        100 Grayston Drive
        Sandown
        Sandton
        2196

For further information contact:
         Investec Warrants
         Tel.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investecwarrants.com

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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