SBKNID - Nedbank - Adjustment To The Terms And Conditions Of The Nedbank`s
JSE SBKNID
NEDB
SBKNID - Nedbank - Adjustment To The Terms And Conditions Of The Nedbank`s
Standard Bank Group Share Instalment
Share Code: SBKNID
ISIN Code: ZAE000094173
The SBK Corporate Event
Standard Bank will acquire 11.11 shares for every 100 shares held and a cash
consideration of ZAR 136.00 per share will be paid.
Details Of The Event:
Last day to trade in order to be eligible for the corporate event is Friday 22
February 2008. The first dealing date in the new securities will be Monday 25
February 2008..
The Issuer will amend the Share Instalment Terms and Conditions in the following
way:
- A cash adjustment will be made, for every 100 SBKNID share instalments
held. Nedbank will acquire 11.11 share instalments and pay holders a cash
consideration of ZAR 136.00 per share instalment minus the strike price of
ZAR 52.65 The cash payment will thus be ZAR 83.35
- The holder of SBKNID will be affected in the following way:
If the holder holds 100 SBKNID, their new entitlement will be 88.89 share
instalments. The entitlement will be rounded down to 88 and the fraction
paid out. The cash amount to be paid will be ZAR 1,000.20 ((11.11+0.89) x
83.35).
- The issue size will be amended from 100 000 000 instalments to 88 000 000
instalments.
For more information contact Nedbank Equity Derivatives on (011) 535 4030.
135 Rivonia Road, Sandton
19 February 2008
Sponsor Nedbank Capital
Date: 19/02/2008 17:29:01 Produced by the JSE SENS Department.
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