INVESTEC BANK LIMITED - Breached Barrier - SHFIHB - 2nd Announcement

Breached Barrier - SHFIHB - 2nd Announcement

INVESTEC BANK LIMITED
NOTICE OF REBATE FOR HOT ENHANCED DIVIDEND SHFIHB

Share                              Steinhoff International Holdings N.V.



Strike Price                       R62.00
Stop-Loss Level                    R70.00
Expiry Date                        2016/11/18
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         3,000,000
JSE Code                           SHFIHB
ISIN Code                          ZAE000210134



Investec Bank Limited, as Issuers of the SHFIHB Hot Enhanced Dividend Security (HOTEDs), advised Holders that
due to the breach of the stop loss level of R70.00 in the Underlying Share, as of close of business on Wednesday,
20 January 2016 the abovementioned HOTED was terminated.

The Rebate Payment, represented by the number of HOTEDs 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 R62.00 This amount will
automatically accrue to holders via instruction through STRATE.

The VWAP on, 21 January 2016 = R70.367393
The VWAP on, 22 January 2016 = R73.151084
The simple average of the 2 day VWAP = R71.76

Holders will receive R9.76 for every warrant held.

25 January 2015

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.investec.co.za

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

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