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STANDARD BANK OF SOUTH AFRICA LD - SCIB: The Standard Bank of South Africa Limited - Adjustments to the terms and conditions of ABL Share Instalments

Release Date: 11/11/2013 10:20
Code(s): ABLSTI ABLSTJ     PDF:  
Wrap Text
SCIB: The Standard Bank of South Africa Limited - Adjustments to the terms and conditions of ABL Share Instalments

The Standard Bank of South Africa Limited

2013/11/11

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD
BANK AFRICAN BANK INVESTMENTS LTD SHARE INSTALMENTS

Following the African Bank Investments Ltd (“ABL”) announcement on the rights
offer, ABL shareholders will receive rights to take up 84 ABL shares for every 100
ABL shares held at a price of R8.00 per share.

Following this announcement, notice is hereby given that the holders of ABL share
instalments will not receive any rights but the terms of the share instalments will be
adjusted to place the share instalment holders in the same financial position they were
prior to the rights offer ex-date. The terms of the Instalments shall be determined at
the close of business on 8th November 2013.

The following share instalments will be affected by this corporate action:

Existing Terms
                                               Conversion
        ISIN         JSE Code Exercise Price                   Expiry
                                                 Ratio
   ZAE000176541       ABLSTI      R23.00          1:1       07-May-2014

   ZAE000180709       ABLSTJ      R11.80          1:1       09-July-2014



New Terms
                                               Conversion
        ISIN         JSE Code Exercise Price                   Expiry
                                                 Ratio
   ZAE000176541       ABLSTI      R 16.11         1:1       07-May-2014

   ZAE000180709       ABLSTJ       R 6.29         1:1       09-July-2014



The last day to trade before this adjustment is made will be 8th November 2013. The
Effective Date of the adjustment shall be 11th November 2013.

The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the
above-mentioned share instalments.

This Notice together with the Common Terms Document and Conditions Annexure
record the terms and conditions of the agreement between the Parties. Any terms
used in this Notice which are defined in the Common Terms Document, Conditions
Annexure and the relevant Supplements shall bear the meaning ascribed to them
therein, unless specifically stated otherwise herein. Other than as set out herein, the
terms and conditions set out in the Common Terms Document, Conditions Annexure
and relevant Supplements remain unchanged and in full force and effect.
Please note that Share Instalments are subject to selling restrictions and prospective
purchases are referred to the relevant Conditions Annexure for details of such
restrictions.

Date: 11/11/2013 10:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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