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KCCGLD - Market Updated Announcement in respect of the Election Required by Holders of the KCCs
FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1929/001225/06)
Issuer code: FRLE
LEI: ZAYQDKTCATIXF9OQY690
Alpha code: KCCGLD
ISIN: ZAE000195830
(FRB)
NOTICE TO KCCGLD HOLDERS: MARKET UPDATED ANNOUNCEMENT IN RESPECT OF THE
ELECTION REQUIRED BY HOLDERS OF THE KCCGLD CUSTODIAL CERTIFICATES AND THE
AMENDED SALIENT DATES
A) REMINDER IN RESPECT OF THE ELECTION REQUIRED BY HOLDERS
Capitalised terms used herein which are not otherwise defined shall bear the meaning ascribed thereto
in the Terms and Conditions of Issuer's offering circular dated 21 October 2014, as amended from time
to time (the Offering Circular).
1. Further to the announcement released on JSE's Stock Exchange News Service (SENS) on 30
September 2024, FirstRand Bank Limited (FRB or the Issuer) wishes to remind security holders of
the KCCGLD Custodial Certificates (Holders) due 11 November 2024 (Maturity Date), listed on the
"Exchange Traded Funds" sector of the JSE Limited (JSE) issued under the Offering Circular,
(KCCs) of their election between:
i) Cash settlement in respect of the KCCs. This will entail the disposal by the Issuer of the Holder's
Allocated Krugerrand on behalf of the Holder and the cash value will be determined as
contemplated in clause 14.4 of the Offering Circular. The cash value will be calculated on Tuesday,
22 October 2024 and announced on the SENS by 11h00 on Thursday, 24 October 2024 (the
Finalisation Date); or
ii) Physical settlement in respect of the KCCs by way of Collection of the Holder's Allocated
Krugerrand from the Custodian. This will entail the collection of an Allocated Krugerrand by the
Holder from the Custodian following on from the delisting and surrender of the Holder's KCC, in
accordance with the physical settlement collection process detailed in paragraph (D) below.
2. The Holder's election must be provided together with any confirmations or other documentation
required pursuant to the terms and conditions of the KCCs to the Holder's Central Securities
Depositary Participant (CSDP) during the period Tuesday, 1 October 2024 08h00 to Friday, 11
October 2024 17h00 (Revised Election Period).
3. Any election received outside of the Revised Election Period will not be considered. In addition,
failure to provide an election will be deemed an election for cash settlement, in accordance with
paragraph A(1)(i) above.
4. This 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
Holders are requested to contact their CSDP in this regard.
B) CASH SETTLEMENT OF KCCs
The cash settlement amount will be determined on Tuesday, 22 October 2024, as per the terms and
conditions of the KCCs, and a SENS announcement confirming the cash value of the Settlement
Amount will be released by 11h00 on the Finalisation Date.
Payment of the cash value will be made on Monday, 11 November 2024.
C) PHYSICAL SETTLEMENT COLLECTION PROCESS
1. Holders that elect physical settlement of the Allocated Krugerrand coins must follow the process
outlined below:
(a) The Holder must collect their Allocated Krugerrand coins from the Custodian, Brink's (Southern
Africa) Proprietary Limited during the period Wednesday, 16 October 2024 08h00 to Friday, 18
October 2024 17h00 (the Collection Period).
(b) The Holder must surrender the Holder's KCC to the Issuer or its agent.
(c) The Allocated Krugerrand coins can only be collected between the Collection Period. The Holder
must make their own collection arrangements with the Custodian.
(d) The Holder must notify the Issuer (by email to DLRMBMETRADING@rmb.co.za) of the following
details:
• the Holder's full name;
• the number of KCCs held;
• the Holder's CSDP;
• the chosen courier company;
• provide a confirmation from the courier company (acting on behalf of the Noteholder) that the
Krugerrand coins will be collected during the Collection Period; and
• Any other documentation which may be required at the time of collection.
This notification must be provided to the Issuer by no later than 17h00 on Tuesday, 15 October
2024.
2. The Issuer will not be liable for non-delivery of the Allocated Krugerrand coins from the point at
which these are collected by the chosen courier company at the Custodian's premises.
3. Failure to strictly comply with the collection process outlined above, or to collect the Allocated
Krugerrand coins as per paragraph D(1)(c) above, will result in the Allocated Krugerrand coins
being sold. The cash value realised from the sale, less any costs incurred by the Issuer in the sale
process, will be paid to the relevant Holder by no later than 10h00 on Monday, 11 November 2024.
D) AMENDED SALIENT DATES
FRB wishes to inform the KCC Holders that the dates pertaining to the election period end date and the
date on which the Holders are to provide their details for the physical redemption have been extended.
The amended salient dates surrounding the election and settlement of the KCCs are as follows:
Election: Capital payment in cash or physical collection of the
Allocated Krugerrand Coins
Timetable Dates
Market update announcement Friday, 04 October 2024
Record date for the receipt of this updated Friday, 27 September 2024
notice
No trade announcement release date Monday, 30 September 2024
Last day to trade by 17h00 on Tuesday, 1 October 2024
Election period in respect of the capital Tuesday, 1 October 2024
payment begins by 08h00 on
Suspension of trade in KCCGLD securities until Wednesday, 2 October 2024
the maturity
Record date Friday, 4 October 2024
Election period in respect of the capital Friday, 11 October 2024
payment ends by 17h00 on
Holder to provide their details for the physical Tuesday, 15 October 2024
redemption process by 17h00 on
Collection date in respect of the Kruger coins Wednesday, 16 October 2024
for those KCCGLD holders that elected
physical settlement begins by 08h00 on
Collection date in respect of the Kruger coins Friday, 18 October 2024
for those KCCGLD holders that elected
physical settlement ends by 17h00 on
Calculation of the cash value payable on the Tuesday, 22 October 2024
maturity date for those Holders that have
elected cash or have not collected the Kruger
coins
Cash value announcement date Thursday, 24 October 2024
Capital payment of the KCCGLD securities for Monday, 11 November 2024
those Holders that have elected cash or have
not collected the Kruger coins
Maturity date for the KCCGLD securities Monday, 11 November 2024
Termination date for the KCCGLD securities Tuesday, 12 November 2024
The issuer will communicate its election to roll or not to roll the KCC's in accordance with the provisions
of the Offering Circular and finalise the corporate actions table on or about Monday, 7 October 2024.
Sandton
4 October 2024
Debt sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 04-10-2024 02:20:00
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