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JSE BAWIHA
INVS
BAWIHA - Investec Bank Limited - Adjustments to the terms and conditions of the
Barworld Limited hot enhanced dividend
securities
INVESTEC BANK LIMITED
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE BARWORLD LIMITED HOT ENHANCED
DIVIDEND SECURITIES ("Hot EDS") BAWIHA
Warrant Strike Barrier Expiry Date Conv. Call Style JSE Code
Price Ratio /Put
Barloworld R150.00 R170.00 15/05/2008 1:1 Call American BAWIHA
Limited ZAE000096186
As a result of the "Unbundling" of Barloworld Limited`s PPC holding which will
take place at close of business on Friday, 6 July 2007. Investec will adjust
the strike and barrier of BAWIHA as a result of the warrant crossing through the
barrier after the unbundling.
Further to this, for every ten (10) BAWIHA warrants held Holders will receive
eighteen (18) PPCIHC warrants (ISIN code: ZAE000101010) which will be listed
Monday, 9 July 2007. The remainder of value owing to the Holder will be paid out
in cash. This will ensure the financial position of the warrant holders is
unprejudiced by this event.
Investec will calculate the relative strike and barrier levels of BAWIHA at the
time of the unbundling. This will be done as follows:
Relative strike = (BAWIHA strike)/(closing price BAW pre-unbundling)
Relative barrier = (BAWIHA barrier)/(closing price BAW pre-unbundling)
PPCIHC strike = Relative strike * (closing price PPC post sub-division)
PPCIHC barrier = Relative barrier * (closing price PPC post sub-division)
As an alternative, if the Holder wishes to receive actual sub-divided PPC
shares, then the holder must notify Investec (1) one working day prior to the
unbundling of his intention to do so.
Cash value to be used for PPC allocation =
(number of current BAWIHA * closing price current BAWIHA) - (number of the new
BAWIHA * issue price new BAWIHA)
The Sub divided PPC allocation = (cash value to be used for PPC allocation) /
(close PPC post sub-division)
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.: 0860 103 343
E-mail: warrants@investec.co.za
Internet: www.investecwarrants.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 04/07/2007 17:16:00 Produced by the JSE SENS Department.
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