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THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - Adjustment to the terms and conditions of Naspers share instalment

Release Date: 18/09/2017 14:40
Code(s): NPNSTL     PDF:  
Wrap Text
SCIB: The Standard Bank Of South Africa - Adjustment to the terms and conditions of Naspers share instalment

The Standard Bank of South Africa Limited

2017/09/18

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD
BANK NASPERS LTD WARRANTS

Following the Naspers Limited (“NPN”) announcement on the 5th September 2017 &
the 12th September 2017 relating to the unbundling of Novus Holdings Limited
(“NVS”), Naspers will unbundle its interest in Novus to Shareholders. Each
Shareholder will receive 0.34588 Novus share for each Naspers share held.

Following this announcement, notice is hereby given that the terms of the NPNSTL
share instalemt will not receive any shares but the value of the NPN shares will be
used to reduce the Exercise Price of the Share Instalments to place the share
instalment holders in the same financial position they were prior to the unbundling ex-
date.


The following warrants will be affected by this corporate action:

Existing Terms   
                  JSE      Exercise Conversion     Expiry    Exercise Style         
ISIN                                               
                  Code      Price        Ratio                
                              R                      04-     American
ZAE000227625     NPNSTL                    1
                           1,800.00                 Oct-17     Call

New Terms
                  JSE      Exercise Conversion     Expiry    Exercise Style
ISIN                                           
                  Code      Price     Ratio                    
                                                     04-     American
ZAE000227625     NPNSTL       TBA          1
                                                    Oct-17     Call



The Effective Date of the adjustment shall be 20th September 2017.

The JSE Limited (JSE) Issuer Services Division has approved the adjustment of the
above-mentioned warrants.

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.

Date: 18/09/2017 02:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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