| Mon 3 Oct 2005, 10:40 | | Nedbank Limited - Nedbank Share Instalment - Notic |
|
Nedbank Limited - Nedbank Share Instalment - Notice of Expiry & Rollover process
Nedbank Limited
Nedbank Share Instalments - Notice of Expiry & rollover process - "scheme of
arrangement" for Nedbank Share Instalments.
BAWNIA(ZAE000058889), KMBNIA(ZAE000058897), NPKNIA(ZAE000058905),
TBSNIA(ZAE00058921), AMSNIA(ZAE000058939), ASANIA(ZAE000058947),
BVTNIA(ZAE000058954), HARNIA(ZAE000058962), IPLNIA(ZAE000059044),
IISNIA(ZAE000058988), LBTNIA(ZAE000058996), LGLNIA(ZAE000059002),
NPNNIA(ZAE000059010), OMLNIA(ZAE000059028), PIKNIA(ZAE000059036),
REMNIA(ZAE000058913),RMHNIA(ZAE000059051), SHFNIA(ZAE000059069),
VNFNIA(ZAE000059077), JDGNIA(ZAE000059085), SPPNIA(ZAE000059747).
The trustees of the above Share Instalments have declared that unless Nedbank
Equity Markets is notified in writing by holders of the proceeding share
instalments that they intend on making the completion payment in order to
receive the underlying securities on or before 5.00pm on the 03rd of October,
2005 the following will apply to the expiry of these Share Instalments.
1. Where a Share Instalment expires with an intrinsic value of less than the
price of the new rollover Share instalment, ie; the "B" series. (for example
AMSNIA will rollover into AMSNIB) the holder of that Share Instalment will
receive the Intrinsic value of the Share instalment. The value of the new Share
Instalment ("B" Series) will be calculated prior to expiry and holders will be
advised. The intrinsic value of the "A" series is the calculated difference
between the official JSE closing price on the 07th of October 2005 and the
completion payment of the Share instalment.
2. Where the Share Instalment expires with an intrinsic value of greater than
the price of the new rollover Share Instalment, the "B" series. (for example
AMSNIA will rollover into AMSNIB) the holder of that Share Instalment will
receive one Share Instalment in the new "B" series for every one Share
Instalment held in the "A" series, plus the holders will receive a cash amount
per Share Instalment held, equal to the Intrinsic value of the "A" series less
the value of the new "B" series.
NB: The completion payment for the new "B" series of Share instalments will be
approximately equal to 50% of the underlying share price at close of the 07th of
October, 2005. The "B" series will commence trading on the 10th of October
2005.
Salient Dates for the Scheme of arrangment:
1. Last date to advise Nedbank Equity Markets of intent to pay the completion
payment in order to receive the underlying stock, 5.00pm October 03rd, 2005.
2. Expiry of "A" series, close of trade on 07th October 2005.
3. New Share Instalment "B" series begins trading 10th of October 2005.
4. Record date for Share Instalment "A" series expiry on 07th October
2005...14th of October 2005.
5. Payment date for cash amounts as a result of the "A" series expiries. 17th
of October 2005.
For further information please contact Nedbank Equity Markets on (011) 535
4030.
Date: 03/10/2005 10:40:07 AM Produced by the JSE SENS Department
