| Tue 17 Feb 2009, 12:15 | | SBR: SBR001 - The Standard Bank Of South Africa - Announcement in relation to |
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JSE SBR001SBR003
SBR
SBR: SBR001 - The Standard Bank Of South Africa - Announcement in relation to
the Redemption of SBR001 Retail Deposit Notes listed on the JSE due 17 February
2009 and a Switch Offer to Noteholders of SBR001 Retail Deposit Notes of a
specified number of SBR003 Retail Deposit Notes (listed on the JSE and due 5
November 2013) in lieu of cash
THE STANDARD BANK OF SOUTH AFRICA LIMITED
Stock Code: SBR001
ISIN Code: ZAE000077780
With reference to the previous Switch Option Notice which was furnished to
Noteholders on 13 February 2009, Notice is hereby given to Noteholders as
follows:
The Standard Bank of South Africa Limited has redeemed, in full, the entire
issuing of SBR001 Retail Deposit Notes due on 17 February 2009.
The Standard Bank of South Africa Limited has offered 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:
Switch Option Ratio: 99.373944 SBR003 Notes per 100 SBR001 Notes(as per the
SBR003 closing price on 12 February 2009 of ZAR100.63)
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 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
SBR001 Noteholders who did not elect the Switch Option had their holding of
SBR001 Retail Deposit Notes redeemed in full, for cash. The amount of the cash
redemption was: ZAR78,593,900
Results of the Switch Option of SBR001 Retail Deposit Notes into SBR003 Retail
Deposit Notes are as follows:
Number of SBR001 Retail Deposit Notes redeemed: 785,939
Number of SBR001 Retail Deposit Notes Switched into SBR003 Retail Deposit Notes:
964,061
Details of the SBR003 Notes are as follows:
Total issued to date: ZAR 420,000,000
Total notes in issue: 4,200,000
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: 23 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
Dated 17 February 2009
For further information contact:
The Standard Bank of South Africa Limited
Alexi Contogiannis
Tel (011) 378 7003
Email:alexi.contogiannis@standardbank.co.za
Date: 17/02/2009 12:15:02 Produced by the JSE SENS Department.
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