BRNSIC - Standard Bank - Increase in issue size in
SBTPV1BRNSIC
SCIB
BRNSIC - Standard Bank - Increase in issue size in relation to BRNSIC Share
Instalment
THE STANDARD BANK OF SOUTH AFRICA LIMITED
Share Code: BRNSIC
ISIN Code: ZAE000091450
INCREASE IN ISSUE SIZE ANNOUNCEMENT IN RELATION TO BRNSIC SHARE INSTALMENT
The JSE Listings division has approved the increase in the issue size from 1.3
million to 10 million in respect of the BRNSIC share instalment with effect from
the commencement of trade on Thursday, 26 April 2007 due to the following
reasons:
The further issue represents only a small portion of the market capitalisation
of the company.
This is well below the limit set by the JSE.
There is large demand for the BRNSIC warrant at present and we wish to match
this demand in order to satisfy the market and fulfill our position as market
maker.
We need to increase the issue size in order to prevent the warrant from trading
up above fair value and thereby jeopardising people who purchase the warrant at
inflated levels.
There are no changes to the terms and conditions of the warrant or to the
underlying share. All documentation submitted for the initial listing of the
warrant, therefore remain relevant.
The terms and conditions of the warrant are as follows:
JSE Code BRNSIC
ISIN Code: ZAE000091450
Short Name SI BRN CC
Long Name SI BRN 355CC 1:1JAN08
Underlying Share Brimstone Investment
Type American Call
Expiration Date 25 Jan 2008
Strike Price R3.55
Cover Ratio 1 share instalment exercisable into 1 Share
I hereby confirm that the above mentioned instalment expires in 8 months,
complying with the Requirements set out in Section 19.13(e).
For further information contact:
Standard Bank
Tel 0800 111 780
Email: derivatives@standardbank.co.za
Sponsor: Standard Bank
Date: 25/04/2007 12:37:10 Produced by the JSE SENS Department.
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