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

Release Date: 08/10/2019 16:30
Code(s): UBNPNJ UBNPNK UBNPNL UBNPNM UBNPNN UBNPNO UBNPNP UBNPNQ     PDF:  
 
Wrap Text
Notification of 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 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 25 March 2019, Naspers Limited ("Naspers") announced its intention to
form a new global consumer internet group, by listing its global consumer
internet assets held by Myriad International Holdings N.V. (previously
referred to as NewCo and to be renamed Prosus N.V.), an existing subsidiary
of Naspers, incorporated in accordance with Dutch laws, on Euronext
Amsterdam with a secondary, inward listing on the Main Board of the
Johannesburg Stock Exchange.

On 19 July 2019, Naspers issued a circular to its shareholders in relation
to the extraordinary general meeting of Naspers shareholders (the Naspers
Circular), in which it announced its intention, subject to the terms and
conditions set out in the Naspers Circular, to implement the Capital
Restructure and the Admissions (the Transaction).

On 23 August 2019, Naspers's shareholders approved, inter alia, the
resolutions required to authorise the implementation of the Capital
Restructure.

On 11 September 2019, Prosus N Ordinary Shares listed on Euronext Amsterdam
and the JSE under the symbol "PRX" with ISIN NL0013654783.

On 16 September 2019, the results of elections under the Capitalisation
Issue and issued share capital for Naspers and Prosus were announced and
implemented accordingly.

In accordance with the Capitalisation Issue and listing of Prosus on the
JSE, the Adjustment Event affects the following certificates with updates
to the issue price, reference shares, cash components and short share
ratios.

INSTRUMENT NUMBER:                           86782
ALPHA CODE:                                 UBNPNJ
ISIN:                                 ZAE000277414
ISSUE SIZE (UNITS):                        100,000
ISSUE PRICE (RAND/ UNIT):                   749.58
LONG REFERENCE SHARE:              Naspers Limited
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                            1 597.98
SHORT SHARES RATIO:                       4.961729



INSTRUMENT NUMBER:                          86783
ALPHA CODE:                                UBNPNK
ISIN:                                ZAE000277422
ISSUE SIZE (UNITS):                       100,000
ISSUE PRICE (RAND/ UNIT):                 1 141.43
LONG REFERENCE SHARE:              Naspers Limited
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                            1 989.83
SHORT SHARES RATIO:                       4.961729



INSTRUMENT NUMBER:                           86784
ALPHA CODE:                                 UBNPNL
ISIN:                                 ZAE000277430
ISSUE SIZE (UNITS):                        100,000
ISSUE PRICE (RAND/ UNIT):                   598.03
LONG REFERENCE SHARE:              Naspers Limited
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                              657.98
SHORT SHARES RATIO:                       3.721297



INSTRUMENT NUMBER:                           86785
ALPHA CODE:                                 UBNPNM
ISIN:                                 ZAE000277448
ISSUE SIZE (UNITS):                        100,000
ISSUE PRICE (RAND/ UNIT):                   889.88
LONG REFERENCE SHARE:              Naspers Limited
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                              949.83
SHORT SHARES RATIO:                       3.721297



INSTRUMENT NUMBER:                           86788
ALPHA CODE:                                 UBNPNN
ISIN:                                 ZAE000277455
ISSUE SIZE (UNITS):                        100,000
ISSUE PRICE (RAND/ UNIT):                   243.08
LONG REFERENCE SHARE:                    Prosus NV
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                                   -
SHORT SHARES RATIO:                       1.367011



INSTRUMENT NUMBER:                           86789
ALPHA CODE:                                 UBNPNO
ISIN:                                 ZAE000277463
ISSUE SIZE (UNITS):                        100,000
ISSUE PRICE (RAND/ UNIT):                   332.15
LONG REFERENCE SHARE:                    Prosus NV
SHORT REFERENCE SHARE:    Tencent Holdings Limited
CASH (IN ZAR):                               89.07
SHORT SHARES RATIO:                         1.367011



INSTRUMENT NUMBER:                          86790
ALPHA CODE:                                UBNPNP
ISIN:                                ZAE000277471
ISSUE SIZE (UNITS):                       100,000
ISSUE PRICE (RAND/ UNIT):                  895.89
LONG REFERENCE SHARE:             Naspers Limited
SHORT REFERENCE SHARE:                  Prosus NV
CASH (IN ZAR):                           1 597.98
SHORT SHARES RATIO:                      2.722214



INSTRUMENT NUMBER:                          86804
ALPHA CODE:                                UBNPNQ
ISIN:                                ZAE000277521
ISSUE SIZE (UNITS):                       100,000
ISSUE PRICE (RAND/ UNIT):                  736.59
LONG REFERENCE SHARE:                   Prosus NV
SHORT REFERENCE SHARE:            Naspers Limited
CASH (IN ZAR):                                  -
SHORT SHARES RATIO:                      1.000000

Effective date of adjustment: Wednesday, 09 October 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/products

Johannesburg
08 October 2019

Sponsor: UBS South Africa (Pty) Limited

Date: 08/10/2019 04:30:00
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