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Notice Of Voluntary Redemption - IDW002/IDW003
Idwala Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2004/003462/06)
ISIN IDW002: ZAG000097049
ISIN IDW003: ZAG000101106
(“Idwala” or the “Issuer”)
NOTICE OF VOLUNTARY REDEMPTION IN ACCORDANCE WITH CONDITIONS 10.5.1,
10.5.2 AND 18 OF THE TERMS AND CONDITIONS OF THE IDWALA INDUSTRIAL
HOLDINGS LIMITED ZAR2,500,000,000 DOMESTIC MEDIUM TERM NOT PROGRAMME
1. The Issuer has delivered a voluntary redemption notice
(“Voluntary Redemption Notice”) to GMG Trust Company (SA)
(Proprietary) Limited (the “Trustee”), on behalf of the
Noteholders on 17 July 2014, in accordance with Condition 10.5.1
(Redemption from internally generated cashflow) of the Terms and
Conditions (as defined below) as set out in the Amended and
Additional Terms and Conditions in Appendix B of the Applicable
Pricing Supplement (as defined below) in terms of which the
Issuer indicates its intention to voluntary redeem ZAR33,000,000
(Thirty-Three Million Rand) Floating Rate Senior Secured Notes
(Stock Code IDW002) due 30 June 2016 (the Subject Amortising
Notes) issued by the Issuer on the terms and conditions (the
Terms and Conditions) of the Programme Memorandum prepared by
the Issuer dated 18 June 2012, as completed and/or supplemented
by the amended and restated applicable pricing supplement (the
Applicable Pricing Supplement) dated 6 November 2012 (as amended
and rested from time to time) in respect of ZAR515,000,000
Floating Rate Senior Secured Notes due 30 June 2016 (the
Permitted Amortising Notes), such voluntary redemption to take
place on 18 August 2014.
2. Condition 10.5.1 provides that the Issuer shall be entitled to
redeem Permitted Amortising Notes at any time during the Term on
giving not less than 30 (thirty) nor more than 60 (sixty) days’
notice to the Noteholders prior to such redemption.
3. The Issuer hereby notifies the Noteholders that the Subject
Amortising Notes will be redeemed on 18 August 2014 (the
Redemption Date) as per the Voluntary Redemption Notice.
4. In addition, the Issuer hereby exercises its option pursuant to
Condition 10.5.2 to require each of the holders of the Permitted
Amortising Notes to, simultaneously with the pro-rata redemption
of the Subject Amortising Notes, subscribe for a pro rata
portion of ZAR33,000,000 (Thirty Three Million Rand) of the
Permitted Senior Secured Capex Notes on the proposed Redemption
Date.
17 July 2014
Debt Sponsor
(Rand Merchant Bank division of FirstRand Bank Limited)
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