INVESTEC BANK LIMITED - Breached Barrier - IPLIHE

Breached Barrier - IPLIHE

INVESTEC BANK LIMITED

NOTICE OF BARRIER FOR HOT ENHANCED DIVIDEND 
IPLIHE

Share                              Imperial Holdings Limited




Strike Price                       R 157.00
Stop-Loss Level                    R 178.00
Expiry Date                        2014/07/23
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         350,000
JSE Code                           ZAE000180956




Investec Bank Limited, as Issuers of the above IPLIHE, Hot Enhanced Distribution Security (HOT EDS), advised
Holders that due to the breach of the stop loss level of R178.00 in the Underlying Share, as of close of business
Monday, 03 February 2014 the abovementioned Hot Enhanced Distribution Security (HOT EDS) has been
terminated.

The Rebate Payment, represented by the number of HOT EDS held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R157.00 This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on, 04 February 2014 = R 168.2761
The VWAP on, 05 February 2014 = R 167.3004
The simple average of the 2 day VWAP = R 167.7883

Holders will receive R 10.78825 for every warrant held.



06 February 2014

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.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investecwarrants.com

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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