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Notice of Request for Written Consent by Noteholders
Torque Securitisation (RF) Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2012/030043/06)
Company code: TSRF
(“Torque” or the “Company”)
NOTICE OF REQUEST FOR WRITTEN CONSENT BY NOTEHOLDERS
1. This notice of request for written consent (the “Consent Request”) is delivered by the Issuer to each
holder of Notes (the “Noteholders”) issued under the Issuer’s ZAR5 000 000 000 Secured Note
Programme dated on or about 8 August 2012 (the “Programme Memorandum”) for purposes of
obtaining the Noteholders’ written consent to restate and amend the terms and conditions of the
Programme Memorandum.
2. Capitalised terms used but not defined herein shall bear the meaning ascribed to them in the
Programme Memorandum.
3. We hereby give notice that the Issuer intends to amend the Programme Memorandum in the form of the
restated and amended Programme Memorandum attached as Annexure A hereto (the “Revised PM”).
4. The Revised PM will be made available on the following website on behalf of the Issuer:
www.iemas.co.za.
5. All of the proposed amendments in the attached Revised PM have been marked up for ease of
reference.
6. In accordance with section 7.12 of the JSE Debt Listings Requirements, “[in] the event that the [Issuer]
makes any changes to the Placing Document that affect the terms and conditions of the Debt
Securities…, other than the changes which are of a formal, minor or technical nature or are made to
correct a manifest error or to comply with mandatory provisions of the law of South Africa, the [Issuer]
must obtain… approval from Holders of Debt Securities holding not less than 66.67% (sixty-six point
sixty-seven percent) of the value of a specific class of notes or all outstanding notes. …”
7. In accordance with section 7.12 of the JSE Debt Listings Requirements, we attach a draft Special
Resolution (attached as Annexure B hereto) (the “Special Resolution”) for written approval by the
Noteholders holding not less than 66.67% of the value of all outstanding Notes.
8. Accordingly, we hereby request that Noteholders approve the attached proposed amendments to the
Conditions by completing and signing the Special Resolution and delivering same to the Central
Depository Participant (that initially provided the Special Resolution) and to FirstRand Bank Limited
(acting through its Rand Merchant Bank division) by no later than 17h00 on Friday, 15 May 2015 in
accordance with the terms of the Special Resolution.
9. The Security SPV, by its signature below, confirms its agreement with the contents of this notice.
10. The Issuer delivers this notice to the Central Depository and to the Securities Exchange News Service of
the JSE (“SENS”) in accordance with Condition 23.1 of the Programme Memorandum.
10 April 2015
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 10/04/2015 09:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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