| Mon 5 May 2008, 12:24 | | SCIB - Standard Bank - Adjustments to the terms an |
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JSE BVTSTB
SCIB
SCIB - Standard Bank - Adjustments to the terms and conditions of the Standard
Bank Bidvest Ltd turbo share instalment
The Standard Bank of South Africa Limited
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK BIDVEST LTD TURBO
SHARE INSTALMENT
Following the BIDVEST LTD ("BVT") announcement of the pro rata share repurchase
on the BIDVEST LTD ("BVT") shares, shareholders will be required to sell 1.82%
of their shares in BVT at a price of R121.00 per share.
Following this announcement, notice is hereby given that the terms of the turbo
share instalments, BVTSTB, will accordingly be amended as follows:
Cash payout = (R121.00 - R95.00) * number of turbo share instalments held *
1.82%
(R95.00 is the Exercise Price of the turbo share instalment, BVTSTB)
The terms of the turbo share instalment, BVTSTB, will be adjusted by changing
the conversion ratio from 1 : 1 to 1 : 0.9818
Existing
Terms
ISIN JSE Code Exercise Conversion Expiry Exercise
Price Ratio Style
ZAE000110458 BVTSTB 95.00 1for1 12-Dec-08 American
Call
New Terms
ISIN JSE Code Exercise Conversion Expiry Exercise
Price Ratio Style
ZAE000110458 BVTSTB 95.00 1 for 12-Dec-08 American
0.9818 Call
The last day to trade to be affected by the buyback transaction is the
Wednesday the 30th April 2008. The Effective Date of the adjustment shall
be Monday 5th May 2008.
The JSE Limited (JSE) Issuer Services Division has approved the adjustment
of the above-mentioned turbo instalments.
This Notice together with the Common Terms Document, Conditions Annexure and
the relevant Supplements records the terms and conditions of the agreement
between the Parties. Any terms used in this Notice which are defined in the
Common Terms Document and Conditions Annexure shall bear the meaning ascribed
to them therein, unless specifically stated otherwise herein. Other than as
set out herein, the terms and conditions set out in the Common Terms Document,
Conditions Annexure and relevant Supplements remain unchanged and in full
force and effect.
Date: 05/05/2008 12:24:01 Produced by the JSE SENS Department.
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