| Mon 7 Jan 2008, 15:40 | | INVS - Investec Bank - Expiry Of Hot Enhanced Dividend Securities |
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JSE
INVS
INVS - Investec Bank - Expiry Of Hot Enhanced Dividend Securities
15 January 2008
Investec Bank Limited
Share Strike Stop-Loss Cover Call/P Style Issue JSE Code
Price Level Ratio ut Size
Naspers R135.00 R155.00 1:1 Call American 400,000 NPNIHA
Limited ZAE0000
92250
Naspers R123.75 R141.10 1:1 Call American 400,000 NPNIHB
Limited ZAE000
103040
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 15 January 2008 (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 days prior to the
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. (The "New" Hot
EDS will be listed on Friday, 11 January 2008, pending JSE approval.) This will
be done on an optimal-ratio basis, with a cash distribution equal to the
difference between the intrinsic value inherent to the "Existing" Hot EDS
multiplied by the position held on expiry and "New" Hot EDS multiplied by the
new position held.
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: 07/01/2008 15:40:14 Produced by the JSE SENS Department.
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