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JSE IPLIDB
INVS
IPLIDB - Investec Bank Limited - Adjustment to the terms and conditions of
IPLIDB
INVESTEC BANK LIMITED
ADJUSTMENT TO THE TERMS AND CONDITIONS OF IPLIDB- ZAE000115457
Investec Enhanced Dividend Securities (EDS)
As a result of Imperial Holdings Limited unbundling, IPLIDB 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
IPLIDB theoretical close EX (12 May 2008) (Spot ref: R76.50): R39.15
IPLIDB close EX (12 May 2008) (Spot ref: R58.50): R29.95
The strike price and barrier level has been adjusted to leave IPLIDB 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 (12May2008)
close EX (12
May 2008)
Strike Price R41.31 Adjusted Strike Price R31.59
(41.31 x factor)
Barrier Level R56.33 Adjusted Barrier Level R43.08
(56.33 x factor)
Rebate Payment R15.02 Adjusted Rebate Payment R11.49
(Barrier - (Barrier - Strike)
Strike)
Price R39.15 New Price R29.95
Theoretical R76.50 Close R58.50
close
Position 100 New Position (100/factor) 130
Value Value
R 3893.50
R 3915.00 + Cash
R21.50 =
R3915.00
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 07:46:01 Produced by the JSE SENS Department.
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