INVESTEC BANK LIMITED - 2 Day VWAP- IPLIDG

2 Day VWAP- IPLIDG

INVESTEC BANK LIMITED - EXPIRY OF ENHANCED DIVIDEND SECURITIES 25 JULY 2012



Share                              Imperial Holdings Limited



Strike Price                       R65.00
Stop-Loss Level                    R88.50
Expiry Date                        25/07/2012
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         300,000
JSE Code                           IPLIDG ZAE000158390


Investec Bank Limited, as Issuers of the above Enhanced Dividend Securities (EDS), notified holders of their option
expiry which occurred on 25 July 2012 (see the related securities above).

Holders who chose to expire the “Existing” EDS will receive the full intrinsic value thereof. A cash settlement amount
representing the number of EDS held on the expiry date multiplied by the excess of the simple average of the Volume
Weighted Average Price (“VWAP”) of the Underlying Parcel over the two Business Days following the Expiry Date,
over the Exercise Price (Strike Price) will automatically accrue to the holder via instruction through STRATE.

The VWAP on 26 July 2012 = 17593.2 cents
The VWAP on 27 July 2012 = 18127.7 cents
The simple average of the 2 day VWAP = 17860.45 cents

Holders will receive R113.6045 for every warrant held



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.investec.com

Sponsor
           Investec Securities Limited
           Member of the JSE
           Registration number. 1972/008905/06)

Date: 30/07/2012 10:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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