To view the PDF file, sign up for a MySharenet subscription.

THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of south Africa - amendment to warrant terms and conditions

Release Date: 21/02/2019 11:50
Code(s): NPNSBI NPNSBV NPNSBJ NPNSBW NPNSBL     PDF:  
 
Wrap Text
SCIB: The Standard Bank Of south Africa - amendment to warrant terms and conditions

The Standard Bank of South Africa Limited

2019/02/20

ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD
BANK NASPERS LTD WARRANTS

Following the Naspers Limited (“NPN”) unbundling announcement relating to the
unbundling of Multichoice, Naspers will unbundle its interest in Multichoice to
Shareholders. Each Shareholder will receive one Multichoice Group Limited share for
each Naspers Limited share held. The unbundling will be effective on the 27th
February 2019.

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 as
they would have been in prior to the unbundling. The warrants will trade as a basket
of Naspers Limited & Multichoice Group Limited on a 1:1 ratio on the 27th February
2019.

At the close of business on 27th February 2019, the terms of the warrants will be
adjusted as per below and will no longer trade as a basket warrant referencing a single
underlying NPN.

The following warrants will be affected by this corporate action:

Existing Terms
                            Exercise    Conversion                  Exercise
ISIN            JSE Code                                Expiry
                             Price        Ratio                      Style
                                                                    American
ZAE000260907     NPNSBI    R 3,600.00      1550       04-Apr-19
                                                                      Call
                                                                    American
ZAE000263414     NPNSBJ    R 2,800.00      1350       07-May-19
                                                                      Call
                                                                    American
ZAE000266078     NPNSBL    R 3,050.00      1500       06-Aug-19
                                                                      Call
                                                                    European
ZAE000260980     NPNSBV    R 3,100.00      1250       04-Apr-19
                                                                       Put
                                                                    European
ZAE000263489     NPNSBW     R 2,400.00     950       07-May-19
                                                                       Put

New Terms
                            Exercise    Conversion                  Exercise
ISIN            JSE Code                                Expiry
                             Price        Ratio                      Style
                                                                    American
ZAE000260907     NPNSBI       TBA           TBA       04-Apr-19
                                                                      Call
                                                                    American
ZAE000263414     NPNSBJ       TBA           TBA       07-May-19
                                                                      Call
                                                                  American
ZAE000266078     NPNSBL       TBA          TBA       06-Aug-19
                                                                    Call
                                                                  European
ZAE000260980    NPNSBV        TBA          TBA        04-Apr-19
                                                                     Put
                                                                  European
ZAE000263489 NPNSBW           TBA          TBA       07-May-19
                                                                     Put



The Effective Date of the adjustment shall be 28th February 2019.

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: 21/02/2019 11:50:00 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
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
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,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story