THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - amendment of structured warrants

SCIB: The Standard Bank Of South Africa - amendment of structured warrants

The Standard Bank of South Africa Limited

2021/08/02


Following the NASPERS LTD - N SHS (“NPN”) announcement relating to the
voluntary share exchange of PROSUS NV (“PRX”), NASPERS LTD - N SHS
shareholders are entitled to exchange their NPN ordinary shares for new ordinary
shares N in the new capital of Prosus.. The last day to trade NPN to participate in the
exchange offer is Tuesday 10 August 2021

Following this announcement, notice is hereby given that the terms of the NPN
warrants will be adjusted to place the warrant holders in the same financial position as
they would have been in prior to the tender offer. The warrants will trade as a basket
of NPN & PRX. With a ratio of approximately 0.53 NPN and 1.07 PRX shares on the
16 August 2021 once the outcome of the tender offer is known

Market making will be uninterrupted on the Bid Side during the period, due to the
uncertainty of the outcome of the tender offer. This will ensure current holders of the
warrants remain unprejudiced. In order for us to accommodate for an event of this
nature, we will we will be bid only in our NPN warrants off the relevant matrix NPN
share price, until such time (date TBC) that the tender offer results are announced to
the market. Please note, during this period, Standard Bank will not be sellers of its
NPN warrants.

Should the outcome be in favour of the tender offer, then we will make bids and
offers off the updated basket price.

The following warrants will be affected by this corporate action:

      ISIN           JSE Code       Exercise Price    Conversion Ratio       Expiry        Exercise Style

 ZAE000291951         NPNSTA          R 2,300.00              1            05-Oct-21       European Call


The Effective Date of the adjustment shall be 16 August 2021.


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
For further information contact:
Standard Bank
Warrants
Tel 0800 111 780
Email: derivatives@standardbank.co.za
Issuer: The Standard Bank of South Africa Limited
Sponsor: SBG Securities (Pty) Ltd
(A subsidiary of the Standard Bank Group Limited)
(Incorporated in the Republic of South Africa, 13 March 1962, Registration number
1972/008305/07)
.

Date: 02-08-2021 12:45:00
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