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STANDARD BANK OF SOUTH AFRICA LD - SCIB: Adjustments to the T's & C's of the Billiton PLC Share Instalm - BILSTL/BILSTM

Release Date: 19/05/2015 11:00
Code(s): BILSTL BILSTM     PDF:  
Wrap Text
SCIB: Adjustments to the T's & C's of the Billiton PLC Share Instalm - BILSTL/BILSTM

The Standard Bank of South Africa Limited

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK BHP
BILLITON PLC SHARE INSTALMENTS

Following the BHP Billiton PLC (“BIL”) announcement on 7 th May 2015 regarding the
demerger dividend, BIL will unbundle its interest in South 32 Limited (“S32”) to
Shareholders. Each Shareholder will receive one S32 share for each BIL share held.

Following this announcement, notice is hereby given that the Issuer will amend the
Terms and Conditions of the share instalments. Share instalment holders will not
receive any shares but the value of the S32 shares will be used to adjust the exercise
(final instalment price) of the share instalments to place the holders in the same
financial position they were prior to the unbundling ex-date.

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

Existing Terms

                     JSE Code     Exercise   Conversion      Expiry     Exercise Style
ISIN                               Price       Ratio
 ZAE000196168         BILSTL      R240.00        1:1       07-Oct-15    American Call

 ZAE000200788         BILSTM      R180.00        1:1       03-Feb-16    American Call


New Terms

                     JSE Code     Exercise   Conversion      Expiry     Exercise Style
ISIN                               Price       Ratio
 ZAE000196168         BILSTL      R219.79        1:1       07-Oct-15    American Call

 ZAE000200788         BILSTM      R159.76        1:1       03-Feb-16    American Call




The Effective Date of the adjustment shall be at close of business on the 18th May
2015.

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.

19-May-2015

Date: 19/05/2015 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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