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JSE SBKIHC
INVS
SBKIHC - Investec Bank - Adjustment To The Terms And Conditions Of SBKIHC
Investec Bank Limited
ISIN Code: ZAE000113510
ADJUSTMENT TO THE TERMS AND CONDITIONS OF SBKIHC
Investec Hot Enhanced Dividend Securities (HOT EDS)
As a result of the Standard Bank Group Limited corporate action, all Standard
Bank holdings will be decreased by 11.11% at a price of R136. SBKIHC will adjust
accordingly to leave holders in an equivalent cash position as prior to the
corporate action.
SBK close LDT: R94.50
SBK adjusted open EX: R89.31
SBKIHC close LDT (Spot ref: R94.50): R27.74
SBKIHC adjusted on LDT (Spot ref: R89.31): R26.24
Due to the adjusted spot being relatively close to the barrier, a fair
adjustment would be to adjust the strike price and barrier level to leave SBKIHC
with the same intrinsic as before the corporate action.
The following adjustments are made:
Factor: SBK LDT/SBK EX = 94.50/89.31
= 1.0581
Prior to Standard After the Corporate Standard Bank
Corporate Bank Group action Group Limited
Action Limited
Strike R73.50 Adjusted Strike R69.47
Price Price (73.50/factor)
Barrier R83.30 Adjusted Barrier R78.73
Level Level (83.30/factor)
Rebate R9.80 Adjusted Rebate R9.26
Payment Payment
(9.80/factor)
Price R27.78 New Price R26.24
Spot R94.50 Spot R89.31
Position 100 New Position 105
Value Value 2755.2 + Cash
2774 (18.8) =
2774
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.: 0860 103 343
E-mail: warrants@investec.co.za
Internet: www.investecwarrants.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 25/02/2008 08:09:32 Produced by the JSE SENS Department.
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