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FRK01 - Notification of an Election Required by Noteholders in Respect of the Cash or Physical Settlement of FRK01
FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1929/001225/06)
JSE company code: FRD
Alpha code: FRK01
ISIN: ZAE000193959
(FRB or the Issuer)
NOTIFICATION OF AN ELECTION REQUIRED BY NOTEHOLDERS IN RESPECT OF THE CASH
OR PHYSICAL SETTLEMENT OF THE FRK01 NOTES
ELECTION REQUIRED BY NOTEHOLDERS
The Issuer hereby notifies the noteholders of the 139,620 One Ounce KrugerRand Notes due 12 August
2019 (“FRK01 Notes”), issued under its ZAR30 000 000 000 Note Programme dated 30 November
2011, as amended from time to time (the “Programme”), that they are required to provide notice
(together with any confirmations or other documentation required pursuant to the terms and conditions
of the FRK01 Notes) to their Central Securities Depositary Participant (“CSDP”), in respect of the capital
payment and accrued interest, by no later than 17:00 on 12 June 2019 (60 days prior the Maturity Date
of the FRK01 Notes):
a) if they intend to sell to the Issuer, all One Ounce KrugerRand coins or smaller denominations
due to be received by them in settlement of the FRK01 Notes, for cash (the cash value to be
determined pursuant to paragraph 97(d) of the Applicable Pricing Supplement dated 12 August
2014 (the “Applicable Pricing Supplement”), pursuant to the FRK01 Notes); or
b) if pursuant to the physical settlement process required for physical delivery of the KrugerRand
coins (as set out in Annexure A to the Applicable Pricing Supplement) they wish to collect their
KrugerRand coins from Rand Refinery (pursuant to paragraph 2 of Annexure A to the
Applicable Pricing Supplement).
ELECTION PROCESS TO BE FOLLOWED
The election notice (“Notice”) has been submitted to Strate Proprietary Limited (“Strate”) for
dissemination by them to the relevant CSDPs. If noteholders have not received the Notice from their
CSDP, such noteholders are requested to contact their CSDP in this regard.
Noteholders are requested to provide notice (together with any confirmations or other documentation
required pursuant to the terms and conditions of the FRK01 Notes and by their CSDP) to such
Noteholder’s CSDP during the period Monday, 10 June 2019 to Wednesday, 12 June 2019 (“Election
Period”).
Any notice received outside of the Election Period will not be considered. In addition, failure to provide
a Notice will be deemed an election for the option in paragraph (b) above.
RESTRICTION OF TRADING IN THE FRK01 NOTES
Noteholders are hereby notified that, in accordance with the terms and conditions of the FRK01 Notes,
trading in the FRK01 Notes will be suspended with effect from Monday, 10 June 2019.
SETTLEMENT OF FRK01 NOTES
Noteholders are advised that the settlement of the FRK01 Notes will consist of a capital payment, equal
to 1 oz Krugerrand coin and an interest payment of 0.25 oz Krugerrand coin per FRK01 Note
(“settlement amount”), which will be processed as two separate events. The cash value of the
settlement amount will be determined on Tuesday, 6 August 2019, as per the terms and conditions of
the FRK01 Notes, and a further announcement will be released confirming such amount.
PHYSICAL SETTLEMENT COLLECTION PROCESS
Noteholders are advised that the physical settlement collection process and applicable dates will be
included in the updated market announcement to be released on SENS on Friday, 31 May 2019.
SALIENT DATES
The salient dates surrounding the election and settlement of the FRK01 Notes are as follows:
Interest Event Date
Record Date (See Note 1): Friday, 3 May 2019
Declaration announcement released and Notice sent by
Strate to CSDPs: Monday, 13 May 2019
Updated market announcement released (See Note 2): Friday, 31 May 2019
No trade announcement released (See Note 3): Wednesday, 5 June 2019
Last Day to Trade4 by 17h00 on: Friday, 07 June 2019
Ex-date (See Note 4): Monday, 10 June 2019
Election period begins by 08h00 on: Monday, 10 June 2019
Suspension of trade in FRK01 until maturity date: Monday, 10 June 2019
Election period ends by 17h00 on: Wednesday, 12 June 2019
Record Date4: Wednesday, 12 June 2019
FRK01 Note cash settlement calculation date: Tuesday, 6 August 2019
Finalisation announcement released: Tuesday, 6 August 2019
Payment of interest cash settlement: Monday, 12 August 2019
Physical settlement reminder announcement: Monday, 12 August 2019
Termination date of the FRK01 Notes: Monday, 26 August 2019
Capital Payment Event Date
Record Date (See Note 1): Friday, 3 May 2019
Declaration announcement released and Notice sent by
Strate to CSDPs: Monday, 13 May 2019
Updated market announcement released (See Note 2): Friday, 31 May 2019
No trade announcement released (See Note 3): Wednesday, 5 June 2019
Last Day to Trade4 by 17h00 on: Friday, 07 June 2019
Ex-date (See Note 4): Monday, 10 June 2019
Election period begins by 08h00 on: Monday, 10 June 2019
Suspension of trade in FRK01 until maturity date: Monday, 10 June 2019
Election period ends by 17h00 on: Wednesday, 12 June 2019
Record Date4: Wednesday, 12 June 2019
FRK01 Note cash settlement calculation date: Tuesday, 6 August 2019
Finalisation announcement released: Tuesday, 6 August 2019
Payment of capital / maturity date cash settlement: Monday, 12 August 2019
Physical settlement reminder announcement: Monday, 12 August 2019
Termination date of the FRK01 Notes: Monday, 26 August 2019
Notes:
1. Record date for receipt of the Notice
2. An announcement confirming various details of the election / settlement and physical collection process of the FRK01 Notes.
3. An announcement reminding noteholders of the close of trade in the FRK01 Notes.
4. These dates pertain to the holders that will be eligible to submit the Notice and receive the settlement amount of the FRK01
Notes.
This notice constitutes the relevant notice required in terms of paragraph 97(d) of the Applicable Pricing
Supplement as read with Condition 22 (Notices) of the terms and conditions of the Programme.
This notice is being delivered to the JSE Limited in accordance with of paragraph 97(d) of the Applicable
Pricing Supplement as read with Condition 22 (Notices) of the terms and conditions of the Programme.
13 May 2019
Debt Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 13/05/2019 02:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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