| Wed 30 May 2012, 17:04 | | LEO01- Lion Of Africa Insurance Company Limited - Full Capital Redemption |
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JSE
BILION
LEO01- Lion Of Africa Insurance Company Limited - Full Capital Redemption
LION OF AFRICA INSURANCE COMPANY LIMITED
JSE Code: LEO01
ISIN No: ZAG000041088
Reference is hereby made to the Lion of Africa Insurance Company Limited (the
Company) ZAR100,000,000 Unsecured Subordinated Callable Note Programme (the
Programme) established on 27 June 2007 pursuant to the Programme Memorandum
dated 27 June 2007 (the Programme Memorandum) subsequent to which the Company
issued ZAR50,000,000 12,27 % Unsecured Subordinated Callable Notes due 29 June
2017 (the Notes) on the terms and conditions set out in the Programme Memorandum
(the Terms and Conditions).
The Company hereby calls for redemption of the aggregate Nominal Amount of Notes
currently outstanding under the Programme, which Nominal Amount is ZAR50,000,000
(the Redemption). This notice (this Notice) is given to you pursuant to
Condition 17 of the Terms and Conditions.
In accordance with Condition 9.3 of the Terms and Conditions, and subject to the
approval of the Registrar of Short-Term Insurance, the Company will redeem the
Notes for cash in an amount equal to the aggregate Redemption Price (as defined
below) of the Notes, plus accrued and unpaid interest on the Redemption Date (as
defined below).
The terms and conditions of the Redemption are as follows:
1 The redemption date for the Notes will be 29 June 2012 (the Redemption
Date).
2 The aggregate redemption price for the Notes will be 100.00% of the Nominal
Amount of the Notes (the Redemption Price), plus accrued and unpaid
interest to the Redemption Date.
3 The Notes shall be redeemed in full.
4 The Notes shall be redeemed in accordance with Condition 9.3 of the Terms
and Conditions.
Capitalised terms not otherwise defined in this Notice shall have the meanings
given to them in the Terms and Conditions.
Capital Redemption Amount Amount Outstanding After Capital
Redemption
LEO01 R 50,000,000.00 R0.00
Date 30 May 2012
Sponsor
Nedbank Capital
Date: 30/05/2012 17:04:02 Produced by the JSE SENS Department.
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