|
Nedbank Limited - Notice of Expiry & rollover process - "scheme of arrangement"
for Nedbank Share Instalments.
Nedbank Limited
APANIA (ZAE000060448), GRTNIA (ZAE000060455), GRYNIA (ZAE000060430), RDFNIA
(ZAE000060463), PPCNIA (ZAE000060471)
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 07th of November,
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, i.e. the "B" series. (for example
AGLNIA will rollover into AGLNIB) 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 10th of November 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
AGLNIA will rollover into AGLNIB) 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 10th of
November, 2005. The "B" series will commence trading on the 11th of November
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 November 07th, 2005.
2. Expiry of "A" series, close of trade on 10th November 2005.
3. New Share Instalment "B" series begins trading 11th of November, 2005.
4. Record date for Share Instalment "A" series expiry on 10th November 2005 -
18th of November, 2005.
5. Payment date for cash amounts as a result of the "A" series expiries. 21st
of November 2005.
For further information please contact Nedbank Equity Markets on (011) 535
4030
Brett McLaren
Nedbank Equity Derivatives
Nedbank Capital
+27 11 535 4030
+27 11 759 7289
+83 458 0380
Date: 24/10/2005 01:38:05 PM Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
