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JSE BILIRR
INVS
BILIRR - Investec Bank Limited - Expiry Notice of Barrier Put Securities on 14
January 2011
INVESTEC BANK LIMITED - EXPIRY NOTICE OF BARRIER PUT SECURITIES ON 14 JANUARY
2011
Share BHP Billiton Plc
Strike Price R376.00
Stop-Loss Level R313.25
Expiry Date 14/01/2011
Cover Ratio 1:1
Call/Put Put
Style European
Issue Size 1005000
JSE Code BILIRR ZAE000145777
Investec Bank Limited, as Issuers of the above Barrier Put Securities (REVS),
hereby reminds holders of their imminent option expiry on 14 January 2011 (see
the related securities above).
Holders may choose to exercise and pay the Exercise Price (Strike Price) in
order to receive the
underlying securities on or before 12:00 hours, one business day prior to the
Expiry Date.
Should holders choose to expire the "Existing" REVS they should notify the
Investec Equity Derivatives Desk before 12:00 hours, Thursday 13 January 2011.
The "Existing" REVS will expire at full intrinsic value on the respective expiry
date. A cash settlement amount representing the number of REVS held on that
date multiplied by the excess of the Exercise Price (Strike Price) over the
simple average of the Volume Weighted Average Price ("VWAP") of the Underlying
Parcel over the two Business Days following the Expiry Date, will automatically
accrue to the holder.
Should holders not choose either option 1 or 2, Investec will make arrangement
to buy-back the "Existing" REVS and sell the "New" REVS (The "New" REVS, will be
listed on Wednesday 12 January 2011)) This will be done on an optimal ratio
basis, a cash distribution of any difference between the intrinsic value
inherent to the "Existing" REVS and the "New" REVS will accrue to the client.
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.: 011 286-4672
E-mail: warrants@investec.co.za
Internet: www.investec.com
Sponsor
Investec Securities Limited
Member of the JSE
Registration number. 1972/008905/06)
Date: 31/12/2010 10:24:14 Produced by the JSE SENS Department.
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