| Thu 29 Jan 2009, 17:00 | | SBR001/SBR003 - Standard Bank Of South Africa - Retail Deposit Notes |
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JSE SBR001SBR003
SBR
SBR001/SBR003 - Standard Bank Of South Africa - Retail Deposit Notes
Announcement
The Standard Bank of South Africa Limited- Announcement in relation to the
Redemption of SBR001 Retail Deposit Notes listed on the JSE due 17 February 2009
STANDARD BANK OF SOUTH AFRICA LIMITED
Stock Code: SBR001
ISIN Code: ZAE000077780
Notice is hereby given to Noteholders as follows:
1. The Standard Bank of South Africa Limited intends redeeming, in full,
the entire issuing of SBR001 Retail Deposit Notes due on 17 February
2009.
2. The Standard Bank of South Africa Limited wishes to offer to
Noteholders of SBR001 Retail Deposit Notes a switch option in lieu of
cash (the "Switch Option") whereby Noteholders are entitled to
exchange their holding of SBR001 Retail Deposit Notes into a specified
holding of SBR003 Retail Deposit Notes (ISIN: ZAE000128195).
Details of the redemption of SBR001 Retail Deposit Notes are as follows:
- Total issue to be redeemed: ZAR 175,000,000
- Total notes in issue: 1,750,000
- SBR001 Maturity date: 17 February 2009
- SBR001 Coupon: 3-month JIBAR payable quarterly
- Status: Deposit (Senior unsecured)
- Last Date to Trade in respect of the redemption: 6 February 2009
- Suspension of listing: 9 February 2009
- SBR001 Record Date in respect of the redemption: 13 February 2009
- Payment date: 17 February 2009
- SBR001 Note expires at the close of trade on 17 February 2009
- Listing: JSE and BESA
- Trading: JSE
- ISIN: ZAE000077780
- Law: South African
- Denominations: R100
- Redemption cash amount: ZAR100 per note
- Sole lead manager: The Standard Bank of South Africa Limited, acting
through its corporate and investment banking division
Details of the Switch Option of SBR001 Retail Deposit Notes into SBR003 Retail
Deposit Notes are as follows:
- SBR001 Noteholders to be advised that partial elections of cash redemption
and/or Switch Option are allowed
- Switch Option Ratio: To be advised by no later than 12h00 on the SBR001
Record Date
- Switch Option Ratio Calculation Method: Nominal value of SBR001 Notes to be
switched divided by the closing price of the SBR003 Notes on the day
immediately preceding the SBR001 Record Date (being 12 February 2009)
- New SBR003 Unit Allocation: Rounding convention for the SBR003 Retail
Deposit Notes allocated will be rounded down to the nearest whole number
and cash in lieu of fractions will be paid to Noteholders
- Last Day to Trade in order to participate in the cash redemption and/or
Switch Option: 06 February 2009
- Record Date in order to participate in the cash redemption and/or Switch
Option: 13 February 2009
- Last Day to elect to receive the cash redemption and/or the Switch Option:
by no later than 12h00 on 11 February 2009
- New SBR003 units issued and Central Securities Depository Participants
("CSDP") and/or broker accounts credited in respect of the exercise of the
election to receive the cash redemption and/or the Switch Option: 17
February 2009
- Results of elections to participate in the cash redemption and/or Switch
Option to be released on SENS: 17 February 2009
- Noteholders electing the Switch Option are advised that trading in the new
SBR003 units will be effective on 17 February 2009
- SBR001 Noteholders who fail to make any election will have their holding of
SBR001 Retail Deposit Notes redeemed in full
Details of the SBR003 Notes are as follows:
- Total issued to date: ZAR 320,000,000
- Total notes in issue: 3,200,000
- SBR003 Maturity date: 5 November 2013
- SBR003 Coupon: 3-month JIBAR + 30 basis points payable quarterly
- Status: Deposit (Senior unsecured)
- Last Date to Trade in respect of the 2nd Interest Period: 22 April 2009
- SBR003 Record Date in respect of the 2nd Interest Period: 30 April 2009
- 2nd Interest Payment Date: 05 May 2009
- Listing: JSE and BESA
- Trading: JSE
- ISIN: ZAE000128195
- Law: South African
- Denominations: R100
- Sole lead manager: The Standard Bank of South Africa Limited, acting
through its corporate and investment banking division
Note:
1. Notes may not be dematerialised or rematerialised after 09 February 2009.
2. Dematerialised Noteholders are required to notify their duly appointed CSDP
or broker of their cash redemption and/or Switch Option election in the
manner and at the time stipulated in the agreement governing the
relationship between the Noteholder and his/her CSDP or broker.
Dated 29 January 2009
For further information contact:
The Standard Bank of South Africa Limited
Paul Burgoyne
Tel (011) 378 8200
Email:paul.burgoyne@standardbank.co.za
and
Alexi Contogiannis
Tel (011) 378 7003
Email:alexi.contogiannis@standardbank.co.za
Date: 29/01/2009 17:00:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
