SBTPV1TNTSTA
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TNTSTA - Standard Bank - Adjustments to the terms and conditions of the Standard
Bank Tongaat Hulett Group Limited Turbo Share Instalment
The Standard Bank of South Africa Limited
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK TONGAAT HULETT
GROUP LIMITED TURBO SHARE INSTALMENT ("TNTSTA")
Following the Tongaat Hulett Group Limited ("TNT") unbundling announcement, TNT
share holders will receive 1 Hulamin Limited ("HLM") share for every TNT share
held. Tongaat Hulett Group Limited ("TNT") will also be renamed Tongaat Hulett
Limited ("TON").
Following this announcement, notice is hereby given that holders of 1 TNTSTA
prior to the unbundling will receive 1 Hulamin turbo share instalment ("HLMSTA")
and 1 Tongaat Hulett turbo share instalment ("TONSTA"). The terms of the new
HLMSTA and TONSTA will be adjusted to place the share instalment holder in the
same financial position they were prior to the unbundling. The ratios of the
exercise prices of the new turbo share instalments shall accordingly be
determined by applying a relative value split of 71.5% for TON and 28.5% for HLM
of the TNTSTA exercise price respectively, and the new terms will be as follows:
Existing
Terms
ISIN JSE Code Exercise Conversion Expiry Exercise Style
Price Ratio
ZAE000089066 TNTSTA 77.50 1for1 13-Dec-07 American Call
New Terms
ISIN JSE Code Exercise Conversion Expiry Exercise Style
Price Ratio
ZAE000099412 TONSTA 55.41 1for1 13-Dec-07 American Call
ZAE000099404 HLMSTA 22.09 1for1 13-Dec-07 American Call
The last day to trade to qualify for the unbundling is the 22nd June 2007.
The Effective Date of the adjustment shall be 25th June 2007.
The JSE Limited (JSE) Issuer Services Division has approved the adjustment of
the above-mentioned turbo instalments.
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.
20 June 2007
Sponsor: Standard Corporate and Merchant Bank
Date: 20/06/2007 15:59:01 Produced by the JSE SENS Department.
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