| Wed 20 Feb 2013, 11:30 | | NQABA FINANCE 1 (PTY) LIMITED - NQABA - Results of Noteholders Meeting |
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NQABA - Results of Noteholders Meeting
NQABA FINANCE 1 PROPRIETARY LIMITED (“NQABA”)
Bond Issuer Code: NQABA
(“Nqaba” or “the Company”)
RESULTS OF NOTEHOLDERS MEETING TO WAIVE AN EARLY AMORTIZATION EVENT AS
A RESULT OF THE ESKOM HOLDINGS SOC LIMITED (“ESKOM”) DOWNGRADE, TO
REINSTATE THE REVOLVING PERIOD AND AMEND PARAGRAPH 1.80.8 OF THE
DEFINITION OF "EARLY AMORTISATION EVENT" IN THE SECTION OF THE PROGRAMME
MEMORANDUM ENTITLED "GLOSSARY OF DEFINITIONS", IN NQABA’S R5,000,000,000
ASSET BACKED PROGRAMME (THE "NOTEHOLDERS MEETING")
Noteholders are advised that, at the Noteholders Meeting held on 19 February 2013 at the offices
of Maitland Trust Limited, special resolutions 1, 2 and 3 were approved by the requisite majority
of Noteholders. Special resolution 4 was not considered as Special Resolution 3 was duly
passed.
As a result, the Noteholders have approved the waiver of the Early Amortisation Event resulting
from the Eskom’s downgrade as though it had not occurred, the reinstatement of the Revolving
Period and the amendment of paragraph 1.80.8 of the definition of "Early Amortisation Event" in
the section of the Programme Memorandum entitled "Glossary of Definitions" by replacing the
reference to "AAA(zaf)" with "AA1(zaf)". Accordingly payments on the Payment Date falling on 22
February 2013 and thereafter (for so long as the Revolving Period continues and prior to the
delivery of an Enforcement Notice) will be made to Noteholders in accordance with the Pre-
Enforcement Priority of Payments applicable during the Revolving Period.
The parties will give effect to the special resolutions by way of an Amendment Agreement dated
on or about 20 February 2013, to be lodged with the JSE Limited.
20 February 2013
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Date: 20/02/2013 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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