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THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - adjustment to terms and conditions of NPN warrants

Release Date: 20/09/2017 08:30
Code(s): NPNSBY NPNSBB NPNSBC NPNSBZ NPNSBP NPNSBD NPNSBQ NPNSBE     PDF:  
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SCIB: The Standard Bank Of South Africa - adjustment to terms and conditions of NPN warrants

The Standard Bank of South Africa Limited

2017/09/19

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 NPN
warrants will be adjusted to place the warrant holders in the same financial position
they were prior to the rights offer ex-date. The terms of the warrants shall be
determined at the close of business on 19th September 2017.

The following warrants will be affected by this corporate action:

Existing Terms
                  JSE      Exercise Conversion        Exercise
ISIN                                           Expiry
                  Code      Price     Ratio            Style
                              R                      04-     American
ZAE000242467     NPNSBB                   850
                           2,350.00                 Oct-17     Call
                              R                      02-     American
ZAE000243598     NPNSBC                   900
                           2,600.00                 Nov-17     Call
                              R                      05-     American
ZAE000245239     NPNSBD                   950
                           3,000.00                 Dec-17     Call
                                                     06-
                              R                              American
ZAE000248415     NPNSBE                   950        Mar-
                           3,200.00                            Call
                                                      18
                              R                      05-     European
ZAE000245338     NPNSBP                   700
                           2,650.00                 Dec-17      Put
                                                     06-
                              R                              European
ZAE000247896 NPNSBQ                       850        Mar-
                           2,700.00                             Put
                                                      18
                              R                      04-     European
ZAE000242491     NPNSBY                   600
                           2,000.00                 Oct-17      Put
                              R                      02-     European
ZAE000244281     NPNSBZ                   700
                           2,350.00                 Nov-17      Put



New Terms
                  JSE      Exercise Conversion        Exercise
ISIN                                           Expiry
                  Code      Price     Ratio            Style
                              R                      04-     American
ZAE000242467     NPNSBB                 R 849.41
                           2,348.36                 Oct-17     Call
                              R                      02-     American
ZAE000243598     NPNSBC                 R 899.37
                           2,598.19                 Nov-17     Call
                              R                      05-     American
ZAE000245239     NPNSBD                 R 949.34
                           2,997.91                 Dec-17     Call
                                                     06-
                              R                              American
ZAE000248415     NPNSBE                 R 949.34     Mar-
                           3,197.77                            Call
                                                      18
                              R                      05-     European
ZAE000245338     NPNSBP                 R 699.51
                           2,648.15                 Dec-17      Put
                                                     06-
                              R                              European
ZAE000247896 NPNSBQ                     R 849.41     Mar-
                           2,698.12                             Put
                                                      18
                              R                      04-     European
ZAE000242491     NPNSBY                 R 599.58
                           1,998.60                 Oct-17      Put
                              R                      02-     European
ZAE000244281     NPNSBZ                 R 699.51
                           2,348.36                 Nov-17      Put



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: 20/09/2017 08:30:00 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
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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,
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