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JSE SAPSBQSAPSBGSAPSBH
SCIB
SCIB - The Standard Bank of South Africa - Adjustments To The Terms And
Conditions Of The Standard Bank Sappi Ltd Warrants
The Standard Bank of South Africa Limited
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK SAPPI LTD
WARRANTS
Following the Sappi Ltd ("SAP") Rights Offer announcement, SAP share holders
will receive rights to take up 6 Sappi Ltd ("SAP") shares at a price of
R20.27 for every 5 SAP shares held.
Following this announcement, notice is hereby given that the terms of the SAP
warrants will be adjusted to place the warrant holders in the same financial
position they were prior to the rights offer ex-date. The terms of the
warrants shall be determined at the close of business on 14th Nov 2008.
The following warrants will be affected by this corporate action:
Existing Terms
ISIN JSE Exercise Conversion Expiry Exercise Style
Code Price Ratio
ZAE000123345 SAPSBG R90.00 20:1 5 Feb 2009 American Call
ZAE000127684 SAPSBH R75.00 30:1 7 May 2009 American Call
ZAE000120622 SAPSBQ R105.00 20:1 5 Dec 2008 American Call
New Terms
ISIN JSE Exercise Conversion Expiry Exercise Style
Code Price Ratio
ZAE000123345 SAPSBG TBA TBA 5 Feb 2009 American Call
ZAE000127684 SAPSBH TBA TBA 7 May 2009 American Call
ZAE000120622 SAPSBQ TBA TBA 5 Dec 2008 American Call
The last day to trade before this adjustment is made will be 14th November
2008. The Effective Date of the adjustment shall be 17th November 2008.
The JSE Limited (JSE) Issuer Services Division has approved the adjustment of
the above-mentioned warrants.
This Notice together with the Common Terms Document and Conditions Annexure
record the terms and conditions of the agreement between the Parties. Any
terms used in this Notice which are defined in the Common Terms Document,
Conditions Annexure and the relevant Supplements 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.
Please note that Share Instalments are subject to selling restrictions and
prospective purchases are referred to the relevant Conditions Annexure for
details of such restrictions.
Date: 11/11/2008 16:20:54 Produced by the JSE SENS Department.
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