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
Nedbank Limited
Share Code: SBKNID
ISIN Code: ZAE000094173
The SBK Corporate Event
ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE NEDBANK`S STANDARD BANK GROUP
SHARE INSTALMENT
With reference to the recent announcement which was published by STRATE on the
08 November 2007. 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 payment will be made to SBKNID holders based on the below cash payments.
Therefore a holder with 100 SBKNID will be affected in the following ways:
The first cash payment on the 11.11% will be calculated as follows:
R83.35 (R136.00- R52.65(Strike price of SBKNID))* number of share instalments
held*11.11%.
The second cash payment will be made on the fraction. On 100 SBKNID`s, the
entitlement of 88.89 will be rounded down to 88 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 52.65 (SBKNID strike)).
The issue size will be amended from 100 000 000 to 88 000 000.
The SBKNID 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 16:18:09 Produced by the JSE SENS Department.
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