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INVESTEC BANK LIMITED - Notification of adjustment event FNIB08

Release Date: 18/10/2024 09:33
Code(s): FNIB08     PDF:  
Wrap Text
Notification of adjustment event – FNIB08

INVESTEC BANK LIMITED
(Incorporated in the republic of South Africa)
(registration number: 1969/004763/06)

NOTIFICATION OF ADJUSTMENT EVENT – FNIB08

 Underlying Asset                      Share                             Weight (equally         Initial Share Price
                                                                         weighted)               (ZAR cents)
                                       The Foschini Group Ltd            1/14                    15,509
                                       Pepkor Holdings Ltd               1/14                    2,374
                                       OUTsurance Group Ltd              1/14                    5,845
                                       Mr Price Group Ltd                1/14                    26,444
                                       Shoprite Holdings Ltd             1/14                    30,492
                                       The Bidvest Group Ltd             1/14                    28,646
                                       Truworths International Ltd       1/14                    10,841
                                       Woolworths Holdings Ltd           1/14                    6,537
                                       Clicks Group Ltd                  1/14                    39,778
                                       Sanlam Ltd                        1/14                    8,866
                                       FirstRand Ltd                     1/14                    8,622
                                       Vodacom Group Ltd                 1/14                    11,444
                                       Standard Bank Group Ltd           1/14                    24,986
                                       Nedbank Group Ltd                 1/14                    30,277

 Expiry Date                           30 September 2044
 Reset Date                            29 September 2027
 Cover Ratio                           1:1
 Call/Put/Other                        Call
 Style                                 Bermudan
 Issue Size                            100,000
 JSE Code                              FNIB08
 ISIN Code                             ZAE000339982


On 17 September 2024, OUTsurance Group Limited declared a special dividend of 40.0 cents per ordinary share,
payable out of income reserves, subject to South African Reserve Bank approval. Furthermore, on 1 October 2024,
shareholders were advised that South African Reserve Bank approval has been obtained and that the salient dates in
respect of the special dividend remain unchanged.

The salient dates in respect of the special dividend is as follows:

- Finalisation date for the special dividend will be Tuesday, 8 October 2024.
- Last day to trade in order to participate in this dividend will be Tuesday, 15 October 2024.
- Shares commence trading ex-dividend on Wednesday, 16 October 2024.
- The record date for the dividend payment will be Friday, 18 October 2024.
- Dividend payment date will be on Monday, 21 October 2024.


Treatment:

Note holders are advised that the Initial Share Price for OUTsurance Group Ltd will be adjusted to account for the
abovementioned special dividend. The Adjusted Initial Share Price for OUTsurance Group Ltd is determined by Investec
Bank Ltd in their capacity as calculating agent.



Calculation:
                                                                           Cents         Calculation
 Closing Price of OUTsurance Group Ltd on 15 October 2024                  6,115         A
 Regular Dividend                                                          113           B
 Special Dividend                                                          40            C
 Closing Price after Regular Dividend                                      6,001.8       (A-B)
 Closing Price less Regular Dividend and Special Dividend                  5,961.8       (A-B-C)
 Adjustment Factor                                                         0.993335      (A-B-C) / (A-B)

 Initial Share Price prior to adjustment                                   5,845         D
 Adjusted Initial Share Price                                              5,806         D x Adjustment Factor


Effective date:
The ZAR adjustment amount shall be applied to each FNIB08 note, effective 21 October 2024.


Date: 18 October 2024


Copies of Warrant issue documentation can be located on:
        Internet: www.investecwarrants.com

For further information kindly contact:
         Investec Financial Products
         Tel.: +27 11 286 9663
         E-mail: FPRetail@investec.co.za

Sponsor:
        Investec Bank Limited

Date: 18-10-2024 09:33:00
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