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UBS AG - Notification of Adjustment Event

Release Date: 19/02/2019 12:15
Code(s): UBNPNW UBNPNX     PDF:  
Wrap Text
Notification of Adjustment Event

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

Notification of 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 the 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 Adjustment Event affects the following
certificates:

INSTRUMENT NUMBER:   79328
ALPHA CODE:          UBNPNW
ISIN:                ZAE000261863

Long Shares updated to Long Reference Shares Basket which includes Long
Reference Share 1 (NPN) and Long Reference Share 2 (MCG). Reference Shares
updated to Long Reference Shares Basket & Short Reference Shares.

INSTRUMENT NUMBER:   79329
ALPHA CODE:          UBNPNX
ISIN:                ZAE000261871
Old cash component in ZAR: 1997.98
New cash component in ZAR: 1671.44


Effective date of adjustment: Wednesday, 27 February 2019.

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
19 February 2019

Sponsor: UBS South Africa (Pty) Limited

Date: 19/02/2019 12:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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