IDWALA INDUSTRIAL HOLDINGS LTD - Delisting Of IDW001, IDW002 AND IDW003 Notes Through A Conversion Event

Delisting Of IDW001, IDW002 AND IDW003 Notes  Through A Conversion Event

Idwala Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2004/003462/06)
ISIN IDW001: ZAG000096926
ISIN IDW002: ZAG000097049
ISIN IDW003: ZAG000101106
(“Idwala” or the “Issuer”)


DELISTING OF IDW001, IDW002 AND IDW003 NOTES (the “Notes”) THROUGH A
CONVERSION EVENT

The Issuer wishes to advise each holder of Notes (the “Noteholders”)
issued under the Idwala Industrial Holdings Limited (formerly Idwala
Holdings Proprietary Limited) ZAR2,500,000,000 Domestic Medium Term
Note Programme (the “Programme”) established pursuant to a programme
memorandum dated 18 June 2012 (the “Programme Memorandum”) in
accordance with Condition 18 (Notices) of the section headed “Terms
and Conditions of the Notes” in the Programme Memorandum (the “Terms
and Conditions”) of the following:

1.      the delisting of the Notes by way of a conversion event,
        whereby the Central Securities Depository Participants will
        be replacing the ISIN Codes and Common Codes of each of the
        Notes referred to below listed on the Interest Rate Market
        of the JSE Limited (the Interest Rate Market) with new ISIN
        Codes and Common Codes reflecting the switch from “listed”
        to “unlisted”;

2.      in accordance with the provisions of the Notes, as set out
        in the Applicable Pricing Supplements in respect of Series
        01 (original ISIN Code: ZAG000096926 and original Common
        Code IDW001) initially issued by the Issuer on 10 July
        2012, the Issuer hereby confirms that the last settlement
        date for IDW001 Notes on the Interest Rate Market will be
        28 July 2014 and the delisting of the IDW001 Notes from the
        Interest Rate Market will be effective on 29 July 2014 by
        converting the unlisted IDW001 Notes to unlisted IDW01U
        Notes as set out in the Amended and Restated Pricing
        Supplement (new ISIN code: ZAG000117847 and new Common Code
        IDW01U) with the first settlement date of such Unlisted
        Notes being 29 July 2014;

3.      in accordance with the provisions of the Notes, as set out
        in the Applicable Pricing Supplements in respect of Series
        02 (original ISIN Code: ZAG000097049 and original Common
        Code IDW002) initially issued by the Issuer on 10 July
        2012, the Issuer hereby confirms that the last settlement
        date for IDW002 Notes on the Interest Rate Market will be
        28 July 2014 and the delisting of the IDW002 Notes from the
        Interest Rate Market will be effective on 29 July 2014 by
        converting the unlisted IDW002 Notes to unlisted IDW02U
        Notes as set out in the amended and Restated Pricing
        Supplement (new ISIN code:    ZAG000117854 and new Common
        Code IDW02U) with the first settlement        date   of   such
        Unlisted Notes being 29 July 2014; and

4.      in accordance with the provisions of the Notes, as set out
        in the Applicable Pricing Supplements in respect of Series
        03 (original ISIN Code: ZAG000101106 and original Common
        Code IDW003) initially issued by the Issuer on 08 November
        2012, the Issuer hereby confirms that the last settlement
        date for IDW003 Notes on the Interest Rate Market will be
        28 July 2014 and the delisting of the IDW003 Notes from the
        Interest Rate Market will be effective on 29 July 2014 by
        converting the unlisted IDW003 Notes to unlisted IDW03U
        Notes as set out in the amended and Restated Pricing
        Supplement (new ISIN code: ZAG000117862 and new Common Code
        IDW03U) with the first settlement date of such Unlisted
        Notes being 29 July 2014.


16 July 2014

Debt Sponsor
(Rand Merchant Bank division of FirstRand Bank Limited)

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