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JSE GFIIHBPPCIHBPPCIHA
INVS
INVS - Investec Bank Limited - Expiry Of Hot Enhanced Dividend Securities
22 May 2007
INVESTEC BANK LIMITED
EXPIRY OF HOT ENHANCED DIVIDEND SECURITIES 22 MAY 2007
Share Gold Fields Limited Pretoria Portland Cement
Company Limited
Strike Price R105.00 R290.00
Stop-Loss Level R119.00 R330.00
Expiry Date 22/05/2007 22/05/2007
Conv. Ratio 1:1 1:1
Call/Put Call Call
Style American American
Issue Size 1 500 000 80 000
JSE Code GFIIHA PPCIHA
ZAE000084075 ZAE000084083
Investec Bank Limited, as Issuers of the above Hot Enhanced Dividend
Securities (HOT EDS), hereby reminds holders of their options relating to
the imminent expiry on 22 May 2007 (see the related securities above).
Holders may choose to exercise and pay the Exercise Price (Strike Price) in
order to receive the underlying securities on or before 5:00 pm, one
business day prior to the Expiry Date.
Should holders choose to expire the "Existing" Hot EDS they should notify
the Investec Equity Derivatives Desk before 5:00 pm, five business day
prior to the Expiry Date. The "Existing" Hot EDS will expire at full
intrinsic value on the respective expiry date. A cash settlement amount
representing the number of Hot EDS held on that date multiplied by the
excess of the simple average of the Volume Weighted Average Price ("VWAP")
of the Underlying Parcel over the two Business Days following the Expiry
Date, over the Exercise Price (Strike Price) will automatically accrue to
the holder.
Should holders not choose either option 1 or 2, Investec will make
arrangement to buy-back the "Existing" Hot EDS and sell the "New" Hot EDS
at no bid-offer spread margin. This will be done on a one-for-one basis, a
cash distribution of the difference between the intrinsic value inherent to
the "Existing" Hot EDS and the less expensive "New" Hot EDS will accrue to
the client. However, if the "New" Hot EDS are more expensive than the
"Expiring` Hot EDS, Investec will apply a ratio and pay the cash
difference.
INVESTEC BANK LIMITED - IF HOLDERS EXERCISE OPTION 3, THEN THE EXPIRED HOT
ENHANCED DIVIDEND SECURITIES WILL ROLL INTO THE FOLLOWING HOT ENHANCED
DIVIDEND SECURITIES
Share Gold Fields Limited Pretoria Portland Cement
Company Limited
Strike Price R91.50 R327.28
Stop-Loss Level R104.00 R 370.92
Expiry Date 15/01/2008 15/05/2008
Conv. Ratio 1:1 1:1
Call/Put Call Call
Style American American
Issue Size 1 000 000 75 000
JSE Code GFIIHB PPCIHB
ZAE000092201 ZAE000094793
Copies of the offering circular may be obtained from:
Investec Bank Limited
100 Grayston Drive
Sandown
Sandton
2196
For further information contact:
Investec Warrants
Tel.: 011 286-4672
E-mail: warrants@investec.co.za
Internet: www.investecwarrants.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 16/05/2007 17:41:29 Produced by the JSE SENS Department.
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