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KCCGLD- Late Announcement: Election Required by Holders in respect of the Cash or Physical Settlement of the KCCGLDs
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)
LATE ANNOUNCEMENT: NOTICE TO KCCGLD HOLDERS - ELECTION REQUIRED BY HOLDERS IN RESPECT OF THE
CASH OR PHYSICAL SETTLEMENT OF THE KCCGLD CUSTODIAL CERTIFICATES
A) 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. FirstRand Bank Limited (FRB or the Issuer) hereby notifies the 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) that they
are required to provide their election in accordance with clause 9 of the Offering Circular 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 JSE's Stock Exchange News Service (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 Monday, 7
October 2024 17h00 (Election Period).
3. Any election received outside of the 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) RESTRICTION OF TRADING IN THE KCCs
Holders are hereby notified that, in accordance with the terms and conditions of the KCCs, trading in
the KCCs will be suspended with effect from Wednesday, 2 October 2024.
C) 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.
D) PHYSICAL SETTLEMENT COLLECTION PROCESS
1. Holders that elect physical settlement of the capital payment due on the Notes 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 Friday, 11 October 2024.
2. The Issuer will not be liable for non-delivery of the 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 Krugerrand
coins as per paragraph D(1)(c) above, will result in the Krugerrand coins in respect of the capital
payment due on the KCCs 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.
E) SALIENT DATES
The salient dates surrounding the election and settlement of the KCCs are as follows:
Election: Capital payment in cash or physical collection of the
Krugerrand Coins
Timetable Dates
Declaration announcement released and notice Monday, 30 September 2024
sent by STRATE to CSDP's
Record date for the receipt of the 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 Monday, 7 October 2024
payment ends by 17h00 on
Noteholders to provide their details for the Friday, 11 October 2024
physical 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
Sandton
30 September 2024
Debt sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)
Date: 30-09-2024 04:45:00
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