SBKNNA - Nedbank - Adjustment To The Terms And Conditions Of The Nedbank`s
JSE SBKNNA
NEDB
SBKNNA - Nedbank - Adjustment To The Terms And Conditions Of The Nedbank`s
Standard Bank Group Nitro Share Instalment
Share Code: SBKNNA
ISIN Code: ZAE000105334
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 Nitro Share Instalment Terms and Conditions in the
following way:
- A cash adjustment will be made, for every 100 SBKNNA share instalments
held. Nedbank will acquire 11.11 nitro share instalments and pay holders a
cash consideration of ZAR 136.00 per share instalment minus the strike
price of ZAR 78.75. The cash payment will thus be ZAR 57.25
- The holder of SBKNNA will be affected in the following way:
If the holder holds 100 SBKNNA, 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 687.00 ((11.11+0.89) x
57.25).
- The issue size will be amended from 100 000 000 instalments to 88 000 000
instalments.
- Please note that foreigners are not eligible to trade in the above
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 17:31:38 Produced by the JSE SENS Department.
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