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RMHIDD - Investec Bank Limited - Adjustment to the terms and conditions of

Release Date: 08/03/2011 11:55
Code(s): JSE RMHIDD
Wrap Text

RMHIDD - Investec Bank Limited - Adjustment to the terms and conditions of RMHIDD ZAE000152401 INVESTEC BANK LIMITED ADJUSTMENT TO THE TERMS AND CONDITIONS OF RMHIDD ZAE000152401 Investec Enhanced Dividend Securities (EDS) As a result of RMB Holdings Limited unbundling, RMHIDD will be adjusted to leave warrant holders in an equivalent financial position as prior to the unbundling. RMH close 7 March 2011: R26.40 RMI close 7 March 2011: R12.51 Combined close 7 March 2011: R38.91 RMHIDD theoretical close on LDT (4 March 2011) based on RMH closing price of R38.00: R18.56 RMHIDD theoretical close 7 March 2011, assuming a combination instrument (based on combined RMH and RMI close): R19.46 The Issuer will, at close of trading on 8 March 2011, sell the RMI shares received and utilize the proceeds to purchase additional RMH on an equal value basis. The strike price and barrier level of RMHIDD will be adjusted by the ratio of the disposal/purchase, with effect from 9 March 2011, based on the RMH and RMI closing prices on 8 March 2011. The example below is illustrative to provide Holders with an indication of RMHIDD following the adjustment to be made on Wednesday, 9 March 2011: Factor: Combined close 7 March 2011/RMH close 7 March 2011 = 1.474 Terms on LDT (4 March Theoretical terms of Illustrative Terms post 2011) assumed Combination Adjustment Instrument (7 March 2011)
Strike Price R20.00 Strike R20.00 Strike Price R13.569 Price (20/factor) Barrier Level R27.00 Barrier R27.00 Barrier Level R18.3192 Level (27/factor)
Price R18.56 Price R19.46 Price R13.20 (19.46/factor) Theoretical R38.00 Theoretical R38.91 Theoretical Close R26.40 Close Close Position 1 Position 1 Position (1 x 1.474 factor) Value R18.56 Value R19.46 Value R19.46 Copies of the offering circular may be obtained from: Investec Bank Limited 100 Grayston Drive Sandown Sandton 2196 For further information contact: Investec Warrants Tel.: 0860 103 343 E-mail: warrants@investec.co.za Internet: www.investecwarrants.com Sponsor Investec Securities Limited Member of the JSE Registration number. 1972/008905/06) Date: 08/03/2011 11:55:01 Supplied by www.sharenet.co.za 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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