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THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The standard Bank Of South Africa - Terms amendments to stock warrants

Release Date: 28/02/2019 09:00
Code(s): NPNSBI NPNSBV NPNSBJ NPNSBW NPNSBL     PDF:  
 
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SCIB: The standard Bank Of South Africa - Terms amendments to stock warrants

The Standard Bank of South Africa Limited

2019/02/28

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       R 3,477.80       1497.39       04-Apr-19
                                                                                 Call
                                                                               American
 ZAE000263414       NPNSBJ        R 2,704.95       1304.17       07-May-19
                                                                                 Call
                                                                               American
 ZAE000266078       NPNSBL      R 2,946.47         1449.08       06-Aug-19
                                                                                 Call
                                                                               European
 ZAE000260980       NPNSBV      R 2,994.77         1207.57       04-Apr-19
                                                                                 Put
                                                                               European
 ZAE000263489       NPNSBW      R 2,318.53          917.75       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: 28/02/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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