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JSE GNDSTE
SCIB
SCIB - The Standard Bank of South Africa Limited - Adjustments to the
terms and conditions of the Standard Bank Grindrod Ltd share instalments
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK GRINDROD
LTD SHARE INSTALMENTS
Following the Grindrod LTD ("GND") announcement on the non-renounceable
offer, GND share holders will receive rights to take up 28.6657 Grindrod
LTD ("GND") share for every 100 shares held at a price of R15.00, this
offer is subject to approval at the Grindrod AGM being held on 24th
October 2011.
Following this announcement, notice is hereby given that the holders of
GNDSTE share instalments will not receive any rights but the terms of
the share instalments will be adjusted to place the share instalment
holders in the same financial position they were prior to the rights
offer ex-date. If the offer is not approved at the AGM then the
adjustment to the share instalment would have to be reversed.
The following share instalments will be affected by this corporate
action:
Existing Terms
ISIN JSE Code Exercise Conversion Expiry Exercise Style
Price Ratio
ZAE000151486 GNDSTE R12.50 1:1 10 Nov 2011 American Call
New Terms
ISIN JSE Code Exercise Conversion Expiry Exercise Style
Price Ratio
ZAE000151486 GNDSTE R12.49 1:1 10 Nov 2011 American Call
The Effective Date of the adjustment shall be 17th October 2011.
The JSE Limited (JSE) Issuer Services Division has approved the
adjustment of the above-mentioned share instalments.
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: 17/10/2011 13:33:20 Produced by the JSE SENS Department.
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