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KCCGLD - Further Market Updated Announcement, Amended Salient Dates and Election to Roll
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: FURTHER MARKET UPDATE ANNOUNCEMENT IN RESPECT
OF THE ELECTION REQUIRED BY HOLDERS OF THE KCCGLD CUSTODIAL CERTIFICATES,
AMENDED SALIENT DATES AND ELECTION TO ROLL
A) FURTHER 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 announcements released on JSE's Stock Exchange News Service (SENS) on 30
September 2024 and 4 October 2024, FirstRand Bank Limited (FRB or the Issuer) wishes to further
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 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 should 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 Initial Collection Period).
(b) The Holder must surrender the Holder's KCC to the Issuer or its agent.
(c) The Allocated Krugerrand coins can be collected during the Initial Collection Period. A further
collection period is available to Holders who are unable to collect during the Initial Collection Period
of within 3 months of the Maturity Date, being 11 November 2024 to 11 February 2025 (the Final
Collection Period). The Holder must make their own collection arrangements with the Custodian
and must provide the details below by no later than 15 October 2024. Furthermore, please note
that the Holder must make prior arrangements with the Issuer for the collection of the Allocated
Krugerrand coins.
(d) The Holder must notify the Issuer (by email to DLRMBMETRADING@rmb.co.za) of the following
details:
• the Holder's full name;
• the Holder's contact details;
• 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 in order to collect in during either the Initial Collection Period or the Final Collection Period.
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 by the end of Initial Collection Period, will result in the Allocated Krugerrand coins
becoming the sole risk and responsibility of the Holder. FRB shall not be liable for loss in respect
of the Allocated Krugerrand coins after the end of the Initial Collection Period. In addition FRB shall
not be liable for any costs or expenses incurred in respect of Allocated Krugerrand Coins not
collected after the end of the Final Collection Period and Holders shall be responsible for any costs
or expenses charged by the Custodian in respect of such Allocated Krugerrand coins.
4. FRB will not be held liable for any costs, expenses or losses in respect of any Allocated Krugerrand
Coins after the end of the Final Collection Period. In addition, FRB will not be able to sell any such
Allocated Krugerrand coins on behalf of any Holder who has failed to collect the Allocated
Krugerrand coins by such time.
D) AMENDED SALIENT DATES
FRB wishes to inform the KCC Holders that the dates pertaining to the collection of the Allocated
Krugerrand coins have been amended and the cash settlement and payment in respect of a Holder not
providing an election has been included accordingly. The amended salient dates surrounding the KCCs
are as follows:
Election: Capital payment in cash or physical collection of the
Allocated Krugerrand Coins
Dates
Timetable
Market update announcement Monday, 07 October 2024
Record date for the receipt of this notice Friday, 27 September 2024
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
Initial collection date in respect of the Wednesday, 16 October 2024
Krugerrand coins for those KCCGLD holders
that elected physical settlement begins by
08h00 on
Initial collection date in respect of the Friday, 18 October 2024
Krugerrand coins 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 provided an election
during the Revised Election Period
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 provided an election during the Revised
Election Period
Maturity date for the KCCGLD securities Monday, 11 November 2024
Termination date for the KCCGLD securities Tuesday, 12 November 2024
Further Collection date in respect of the Monday, 11 November 2024
Krugerrand coins for those KCCGLD holders
that elected physical settlement begins by
08h00 on
Further Collection date in respect of the Tuesday, 11 February 2025
Krugerrand coins for those KCCGLD holders
that elected physical settlement ends by 17h00
on
E) ELECTION TO ROLL KCCGLD
The issuer further wishes to notify Holders that it has not elected to roll the KCCs and that the KCC's
will be delisted on the Maturity Date in accordance with the terms of the Offering Circular.
Sandton
7 October 2024
Debt sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 07-10-2024 05:00:00
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