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THE SA NATIONAL ROADS AGENCY SOC LTD - SANRAL - Notice of amendment to the Programme Memorandum and issue of new guarantee

Release Date: 01/04/2014 14:06
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SANRAL - Notice of amendment to the Programme Memorandum and issue of new guarantee

The South African National Roads Agency SOC Limited
(Incorporated in the Republic of South Africa
Registration number 1998/009584/06)
(the “Issuer” or the “Company”)
Bond Issuer Code: BINRA

NOTICE OF AMENDMENT TO THE PROGRAMME MEMORANDUM AND ISSUE OF A NEW
GUARANTEE UNDER THE ZAR31 910 000 000 DOMESTIC MEDIUM TERM NOTE PROGRAMME
OF THE ISSUER IN TERMS OF THE PROGRAMME MEMORANDUM DATED 30 JULY 2009
("PROGRAMME MEMORANDUM") AND GUARANTEED BY THE GOVERNMENT OF 
THE REPUBLIC OF SOUTH AFRICA ON 29 JUNE 2009 ("GUARANTEE")

Notice is hereby given, that following a meeting ("Meeting") of the holders of the Notes issued by the
Issuer under its Programme Memorandum, held on 1 April 2014, requesting the holders of the Notes
to consider an amendment to the Programme Memorandum pursuant to the issue of an amended and
restated programme memorandum ("Amended and Restated Programme Memorandum") and the
replacement of the Guarantee with a new guarantee ("New Guarantee"), pursuant to the passing of
the Extraordinary Resolutions by the holders of the Notes at the Meeting –

1     the Issuer was authorised to issue an Amended and Restated Programme Memorandum; and
2     the replacement of the Guarantee with a New Guarantee was authorised.

The above resolutions were effected following the adoption of the Extraordinary Resolutions by
Noteholders at the Meeting holding 84.66% of the Principal Amount of the Notes represented by
Proxy.

Capitalised terms and expressions used in this notice and not otherwise defined herein, shall have the
meanings ascribed to such terms and expressions in the Programme Memorandum.

By order of the board of the Company.

1 April 2014

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)

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