Nedbank Limited - Scheme of arrangement for Nedban
Nedbank Limited - Scheme of arrangement for Nedbank Share Instalments.
Nedbank Limited
Share Instalments - Notice of Expiry & rollover process - "Scheme of
arrangement" for Nedbank Share Instalments.
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
Date: 07/11/2005 12:36:05 PM Produced by the JSE SENS Department
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