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UBS AG - Notification of Potential Adjustment Event on UBS Long/Short Certificates on Naspers (Long) vs. Tencent (Short)

Release Date: 23/01/2019 16:13
Code(s): UBNPNY UBNPNA UBNPNB UBNPNW UBNPNX     PDF:  
Wrap Text
Notification of Potential Adjustment Event on UBS Long/Short Certificates on Naspers (Long) vs. Tencent (Short)

UBS AG, London Branch
(“UBS AG” or the “Company”)
(Incorporated and domiciled in Switzerland)
(Registration number: CHE-101.329.561)

Notification of Potential Adjustment Event on UBS Long/Short Certificates
on Naspers Limited (Long) vs. Tencent Holdings Limited (Short)

Certificateholders of UBS Long/Short Certificates on Naspers Limited (Long)
vs. Tencent Holdings Limited (Short) are hereby advised of a Potential
Adjustment Event that may have a diluting or concentrative effect on the
theoretical value of the relevant Shares.

On 21 January 2019, Naspers Limited ("Naspers") announced an update in
relation to the unbundling of MultiChoice Group Limited Shares to Naspers
shareholders and the listing of MultiChoice Group Limited on the JSE
Limited ("JSE"). This announcement is further to the announcement issued by
Naspers on 17 September 2018.

Naspers proposes to unbundle its video entertainment business ("Business")
currently held by its wholly owned subsidiary, MultiChoice Group Limited
("MultiChoice"), to the holders of its "N" ordinary shares and "A" ordinary
shares, respectively, and list the shares in MultiChoice on the JSE as a
primary listing.

Unbundling – ratio of entitlement:
The Naspers Board intends to implement the unbundling by way of a pro rata
distribution in specie of ordinary shares in MultiChoice. Naspers
shareholders holding "N" ordinary shares on the Naspers securities register
on the Unbundling Record Date and Time will be transferred one unbundled
MultiChoice Share for every one "N" ordinary share held.

Key dates in the expected timeline of principal events:
LDT in order to participate in the
unbundling                            Tuesday, 26 February 2019

Admission to listing and trading of
MultiChoice Shares on the JSE from
                                       Wednesday, 27 February 2019
commencement of trade (MCG ISIN
ZAE000265971)
Naspers Shares trade "ex"
entitlement to receive the Unbundled   Wednesday, 27 February 2019
MultiChoice Shares
Unbundling Record Date and Time        17:00 on Friday, 1 March 2019

In accordance with the unbundling of MultiChoice shares and listing of
MultiChoice on the JSE, the Long Reference Share, the Redemption Amount in
respect of a Valuation Date, and/or the initial cash component (C0) is
expected to change.

Details on the adjustments to the Certificates including effective dates of
the adjustments will be communicated in due course.

The Potential Adjustment Event may affect the following certificates:

INSTRUMENT NUMBER:   79328
ALPHA CODE:          UBNPNW
ISIN:                ZAE000261863

INSTRUMENT NUMBER:   79329
ALPHA CODE:          UBNPNX
ISIN:                ZAE000261871

INSTRUMENT NUMBER:   79294
ALPHA CODE:          UBNPNY
ISIN:                ZAE000261806

INSTRUMENT NUMBER:   79320
ALPHA CODE:          UBNPNA
ISIN:                ZAE000261822

INSTRUMENT NUMBER:   79321
ALPHA CODE:          UBNPNB
ISIN:                ZAE000261830

The Calculation Agent will determine the effect of the Potential Adjustment
Event and make the corresponding adjustments as determined appropriate to
account   for  this   event.  This   will  be   communicated  directly   to
Certificateholders. The adjustment may have an effect on the value of the
certificate.

For further information kindly contact:
UBS KeyInvest South Africa
Tel.: +27 11 322 7129 / 7317
E-mail: keyinvestza@ubs.com
Web: http://keyinvest-za.ubs.com/

Johannesburg
23 January 2019

Sponsor: UBS South Africa (Pty) Limited

Date: 23/01/2019 04:13:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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