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JSE IPLIHC
INVS
IPLIHC - Investec Bank Limited - Adjustment to the terms and conditions of
IPLIHC
INVESTEC BANK LIMITED
ADJUSTMENT TO THE TERMS AND CONDITIONS OF IPLIHC- ZAE000115465
Investec Hot Enhanced Dividend Securities (HOT EDS)
As a result of Imperial Holdings Limited unbundling, IPLIHC has been adjusted
accordingly to leave warrant holders in an equivalent cash position as prior to
the unbundling.
IPL close EX (12 May 2008): R58.50
EQS close EX (12 May 2008): R18.00
IPL theoretical close EX (12 May 2008): R58.50 + R18.00 = R76.50
IPLIHC theoretical close EX (12 May 2008) (Spot ref: R76.50): R25.26
IPLIHC close EX (12 May 2008) (Spot ref: R58.50): R19.31
The strike price and barrier level has been adjusted to leave IPLIHC with the
same intrinsic as prior to the unbundling.
The following adjustments are made:
Factor: IPL close EX/IPL theoretical close EX = 0.7647
Theoretical Close EX (12 May 2008)
close EX (12
May 2008)
Strike Price R56.33 Adjusted Strike Price R43.08
(56.330 x factor)
Barrier Level R63.84 Adjusted Barrier Level R48.82
(63.84 x factor)
Rebate Payment R7.51 Adjusted Rebate Payment R5.74
(Barrier (Barrier - Strike)
-Strike)
Price R25.26 New Price R19.31
Theoretical R76.50 Spot R58.50
close
Position 100 New Position 130
(100/factor)
Value Value
R 2510.30 +
R 2526.00 Cash R15.70 =
R2526.00
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: 13/05/2008 07:45:01 Produced by the JSE SENS Department.
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