Wrap Text
Investor conference call for African Bank Restructuring in respect of Exchange Offer –Presentation Material
AFRICAN BANK LIMITED (in Curatorship)
(Incorporated in the Republic of South Africa)
(Registered bank)
(Registration number 1975/002526/06)
Company code: BIABL
(“African Bank” or “the Bank”)
Investor conference call for creditors subject to the African Bank Restructuring in respect of any
Exchange Offer – Presentation material
On 16 February 2016, the Curator of African Bank announced an investor call for creditors who are
subject to the African Bank Restructuring in respect of any Exchange Offer (“Investor conference call
for creditors who are subject to the African Bank Restructuring in respect of any Exchange Offer”) via
the News Service of the Johannesburg Stock Exchange (“SENS”), the Regulatory News Service
(“RNS”) of the London Stock Exchange and the Swiss Securities Services Corporation (“SIX”) of the
Swiss Stock Exchange.
Conference call details, presentation material and playback facility
Interested parties, who have not yet registered for the conference call and still intend to do so, are
referred to the following details (including the need to pre-register) regarding the conference call:
Date: Wednesday, 17 February 2016
Time: 11h00 SAST/CAT
Web pre-registration: Creditors are requested to pre-register for this conference call at
http://goo.gl/6guJiU and follow the instructions supplied.
The convener of the conference call will allow time at the end of the call for questions from creditors
which are relevant to clarifying the details of the Exchange Offer process.
The Curator will email a presentation, covering the content of the call, to registered conference call
participants prior to the call and make the same presentation available for download by the close of
business on Wednesday 17 February 2016 until Friday 29 February 2016 on the Bank’s Investor
Relations website at https://www.africanbank.co.za/about-us/investors. Interested parties will be
able to access the presentation by following the link to Corporate Restructuring – General.
A recording of the conference call will also be available by the close of business on Wednesday 17
February 2016 until Friday 29 February 2016, by dialing the respective access numbers, and entering
the unitary access code.
Country Access Number Access code
South Africa 011 305 2030 45240#
UK – Toll Free 0 808 234 6771 45240#
Other +27 11 305 2030 45240#
Please also refer to Notes 1 and 2 below this announcement regarding the Offer Notice and previous
relevant SENS, RNS and SIX announcements related to the African Bank Restructuring and
disclaimers thereto.
Capitalised terms used but not defined in this announcement have the meaning given to them in the
Offer Information Memorandum.
On behalf of the Curator of African Bank.
Midrand
17 February 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
T Winterboer was appointed as Curator of African Bank Limited on 10 August 2014 by the Minister
of Finance of the Republic of South Africa and pursuant to the Banks Act No. 94 of 1990 (as
amended) to manage the affairs of African Bank Limited subject to the supervision of the Registrar of
Banks. Please note that Mr Winterboer acts in the aforesaid capacity.
Note 1: Previous relevant SENS announcements related to the African Bank Restructuring
Stakeholders are referred to the statement regarding the Curatorship of African Bank ("the
Curatorship") made by the then Governor of the South African Reserve Bank ("SARB"), Ms. Gill
Marcus, on 10 August 2014 ("the SARB statement").
The SARB statement confirmed that Mr. Tom Winterboer was appointed as Curator of African Bank
("the Curator") in terms of the Banks Act No. 94 of 1990 (as amended) on 10 August 2014. At the
same time the SARB statement set out a proposal for the restructuring of African Bank, which
entailed the creation of a new "Good Bank" ("the Good Bank Restructuring Proposal".)
Further detail about the Good Bank Restructuring Proposal has been communicated to stakeholders
the SENS announcement released by African Bank on 9 September 2015 (“Publication of Information
Memorandum for the Good Bank Restructuring Proposal and Acquisition of The Standard General
Insurance Company Limited (“Stangen”)"). Information contained in SENS announcements related to
the Good Bank Restructuring Proposal between 10 August 2014 and 9 September 2015 was
superseded by the contents of the Information Memorandum.
Stakeholders are also referred to SENS announcements released by African Bank on 1 October 2015
(“Quarterly update in terms of Section 1.10(c) of the JSE Listings Requirements”), 9 October 2015
(“Extension of comment period on Information Memorandum”), 16 October 2015 (“Termination of
proposed acquisition of Stangen and Supplement to Information Memorandum”), 23 October 2015
(“Timetable to publish the Supplement to the Information Memorandum and revision of the
timeline to launch Good Bank”), 8 December 2015 (“African Bank Limited Curatorship update:
Release of a Supplementary Memorandum and of the audited annual financial statements for the
year ended 30 September 2015”), 31 December 2015 (“Quarterly update in terms of Section 1.10(c)
of the JSE Listings Requirements), 18 January 2016 (“Appointment of Guardrisk Life Limited to
underwrite insurance products for African Bank and Good Bank”), 29 January 2016 (Notice of
publication date of Offer Information Memorandum for the African Bank Restructuring), 4 February
2016 (“Publication of Exchange Offer Documents and Offer Information Memorandum for the
African Bank Restructuring”) and 16 February 2016 (“Investor conference call for creditors who are
subject to the African Bank Restructuring in respect of any Exchange Offer”.)
Note 2: Disclaimers
NOT FOR DISTRIBUTION TO ANY PERSON LOCATED IN THE UNITED STATES OR INTO ANY
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. RESTRICTIONS ARE
APPLICABLE (SEE “Offer and Distribution Restrictions” BELOW).
Offer and Distribution Restrictions
Neither this announcement nor any Exchange Offer Documents constitute an offer or an invitation
to participate in the Exchange Offers in any jurisdiction in or from which, or to any person to whom,
it is unlawful to make such offer or invitation under applicable laws. The distribution of this
announcement and/or any Exchange Offer Document may be restricted by law in certain
jurisdictions. Persons into whose possession this announcement or the Exchange Offer Document
comes are required by each of the Bank, Good Bank, the Curator, the SARB, the Registrar of Banks
and the Exchange Agent to inform themselves about, and to observe, any such restrictions.
South Africa
None of the Exchange Offers, this announcement, any Exchange Offer Documents or any other
document or materials relating to the Exchange Offers do, nor are they intended to constitute (i) an
“offer to the public” (as such expression is defined in the South African Companies Act); or (ii) a
prospectus prepared and registered under the South African Companies Act. The Exchange Offers
are made by or to, as the case may be, Holders of Existing Notes and on a non-renounceable basis as
contemplated in section 96(1)(c) of the South African Companies Act.
United States
The offers of the securities referred to in this announcement and the Exchange Offer Documents
have not been and will not be registered under the United States Securities Act of 1933 (“Securities
Act”). In particular, unless expressly set out in the Exchange Offer Document(s), the Exchange Offers
are not being made to any person located in the United States. The securities referred to in the
Exchange Offer Documents may not be offered or sold in the United States unless an exemption
from the registration requirements of the Securities Act is available. No public offering of such
securities will be made in the United States.
United Kingdom
This announcement and any Exchange Offer Document may only be communicated to persons in the
United Kingdom in circumstances where section 21(1) of the Financial Services and Markets Act 2000
does not apply. Accordingly, inside the United Kingdom this announcement and any Exchange Offer
Document are only for circulation to persons who fall within one of the following categories:
(i) a person who is a Holder of any Existing Notes; or
(ii) any other person also falling within Article 43(2) or within Article 49(2)(a) to (d) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), falling within the
definition of “investment professionals” (as defined in Article 19(5) of the Order) or any other person
to whom the Exchange Offer may otherwise lawfully be made under the Order.
This announcement and the Exchange Offer Document are only available in the United Kingdom to
such persons, and the transactions contemplated herein will be available only to, and may be
engaged in only with, such persons.
Belgium
The Exchange Offers may not be made, and are not being made, in the Kingdom of Belgium (i) by
way of an offer of securities to the public, as defined in Article 3 § 1 of the Belgian Law of 16 June
2006 on the public offering of securities and the admission of securities to trading on a regulated
market (Loi relative aux offres publiques d’instruments de placement et aux admissions
d’instruments de placement à la négociation sur des marchés réglementés / Wet op de openbare
aanbieding van beleggingsinstrumenten en de toelating van beleggingsinstrumenten tot de
verhandeling op een gereglementeerde markt) (the “Prospectus Law”) nor (ii) by way of a public
takeover bid, as defined in Article 3 § 1 of the Belgian Law of 1 April 2007 on public takeover bids
(Loi relative aux offres publiques d’acquisition / Wet op de openbare overnamebiedingen) (the
“Public Takeover Law”).
The Exchange Offers will be conducted in the Kingdom of Belgium under applicable private
placement exemptions in accordance with the Prospectus Law and the Public Takeover Law and
therefore neither the Exchange Offers, this announcement nor the Exchange Offer Document have
been notified to the Belgian Financial Services and Markets Authority (Autorité des services et
marchés financiers / Autoriteit voor Financiële Diensten en Markten) (“Belgian FSMA”) nor has this
announcement, any Exchange Offer Document or any other information circular, brochure or similar
document relating to the Exchange Offers been, nor will it be, approved by the Belgian FSMA.
Accordingly, the Exchange Offers are not being made, directly or indirectly, to, or for the account of,
any person (individual or legal entity) other than “qualified investors” within the meaning of Article
6, paragraph 3 of the Public Takeover Law and Article 10 of the Prospectus Law.
France
The Exchange Offers are not being made, directly or indirectly, to the public in the Republic of
France (“France”). Neither this announcement, any Exchange Offer Document nor any other
documents or materials relating to the Exchange Offers have been or shall be distributed to the
public in France and only (i) providers of investment services relating to portfolio management for
the account of third parties (“personnes fournissant le service d'investissement de gestion de
portefeuille pour compte de tiers”) and/or (ii) qualified investors acting for their own account
(“Investisseurs Qualifiés”) as defined in and in accordance with Articles L.411-1, L.411-2 and D.411-1
to D.411-3 of the French Code Monétaire et Financier are eligible to participate in the Exchange
Offers described herein. Neither this announcement, any Exchange Offer Document nor any other
offering material relating to the Exchange Offers has been submitted to the clearance of the Autorité
des marchés financiers.
Italy
None of the Exchange Offers, this announcement, any Exchange Offer Document or any other
document or materials relating to the Exchange Offers have been submitted to the clearance
procedures of the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian
laws and regulations. Each Exchange Offer is being carried out in Italy as an exempted offer pursuant
to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended
(the “Financial Services Act”) and article 35-bis, paragraph 3, of CONSOB Regulation No. 11971 of 14
May 1999, as amended (the “CONSOB Regulation”). The Exchange Offers are also being carried out
in compliance with article 35-bis, paragraph 7 of the CONSOB Regulation. Holders or Beneficial
Owners of Existing Notes that are located in Italy can exchange Existing Notes through authorised
persons (such as investment firms, banks or financial intermediaries permitted to conduct such
activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 16190 of 29
October 2007, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993,
as amended) and in compliance with applicable laws and regulations or with requirements imposed
by CONSOB or any other Italian authority. Each intermediary must comply with the applicable laws
and regulations concerning information duties vis-à-vis its clients in connection with the Existing
Notes or the Exchange Offers.
Switzerland
The Exchange Offers (other than in relation to the CHF existing notes) are not being made, directly or
indirectly, to the public in Switzerland and the relevant Good Bank Notes (other than the Good Bank
CHF notes) and Senior Stub Instruments will not be listed on the SIX Swiss Exchange or on any other
exchange or regulated trading facility in Switzerland. Neither this announcement, any Exchange
Offer Document nor any other offering or marketing material relating to the Exchange Offers
constitutes a prospectus with respect to the Existing Notes (other than in relation to the CHF existing
notes) or the relevant Good Bank Notes and Senior Stub Instruments as such term is understood
pursuant to article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus
within the meaning of the listing rules of the SIX Swiss Exchange or any other regulated trading
facility in Switzerland and may not comply with the information standards required thereunder.
The ability of Holders of CHF Existing Notes who are not resident in Switzerland to accept the
Exchange Offer may be affected by the laws of the relevant jurisdiction in which they are located or
of which they are citizens. Persons who are not resident in Switzerland should inform themselves of,
and observe, any applicable legal or regulatory requirements of their jurisdictions. Neither this
announcement, the Exchange Offer Document nor any other marketing material relating to the
Exchange Offers constitutes a prospectus with respect to the CHF Existing Notes or the relevant
Good Bank CHF Notes and Senior Stub Instruments within the meaning of article 652a or article 1156
of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the
SIX Swiss Exchange or any other regulated trading facility in Switzerland and may not comply with
the information standards required thereunder.
General
The distribution of this announcement and the Exchange Offer Document may be restricted by law
in certain jurisdictions. Persons into whose possession this announcement and/or the Exchange
Offer Document come are required to inform themselves about and to observe any such restrictions.
This announcement and the Exchange Offer Document do not constitute, and may not be used for
the purpose of, an offer or solicitation to the public or to anyone in any jurisdiction in which such
offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or
solicitation.
Date: 17/02/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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