SBKNNA - Nedbank Limited - Adjustment To The Terms And Conditions Of The
JSE SBKNNA
NEDB
SBKNNA - Nedbank Limited - Adjustment To The Terms And Conditions Of The
Nedbank`s Standard Bank Group Nitro Share Instalment
Nedbank Limited
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 payment will be made to SBKNNA holders based on the below cash payments.
Therefore a holder with 100 SBKNNA will be affected in the following ways:
The first cash payment on the 11.11% will be calculated as follows:
R57.25 (R136.00- R78.75(Strike price of SBKNNA))* number of nitro share
instalments held*11.11%.
The second cash payment will be made on the fraction. On 100 SBKNNA`s, the
entitlement of 88.89 will be rounded down to 88 nitro share instalments and the
fraction i.e. 0.89 will be paid out with the calculation as follows:
0.89 * (Close on SBK on Friday, 22 February 2008 - R 78.75 (SBKNNA strike)).
The issue size will be amended from 100 000 000 to 88 000 000.
The SBKNNA conversion ratio will thus remain at a ratio of 1 to 1.
For more information contact Nedbank Equity Derivatives on (011) 535 4030.
135 Rivonia Road, Sandton
21 February 2008
Sponsor Nedbank Capital
Date: 21/02/2008 16:12:26 Produced by the JSE SENS Department.
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