Southey Capital Ltd
London
THIS OFFER IS SUBJECT TO ENGLISH LAW. NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR TO ANY US PERSON OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
SOUTHEY CAPITAL LTD ANNOUNCES AN INVITATION TO PURCHASE SECURITIES OF SNS BANK NV AND SNS REAAL NV FOR CASH
Today, Southey Capital Ltd (then "Offeror") has launched an invitation to holders of the securities issued by SNS Bank NV and SNS REAAL NV, which have been expropriated by the State of Netherlands, to tender for purchase by the Offeror for cash, subject to applicable offer and distribution restrictions.
Purchase Price
Subject to the Offeror accepting and any additional documentation being, the Offeror will pay an amount in cash equal to 18.5% of the nominal amount of each Security accepted for purchase by the Offeror.
Rationale for the Offer
The Offeror believes that the Offer will provide an opportunity to holders to realize liquidity with respect to their Securities that might not otherwise be available to such holders.
Acceptance Procedure
Holders that wish to accept the offer are requested to complete the attached Form of Acceptance and send this directly via email to the Offeror at [email protected], attaching evidence of their holding. Forms of Acceptance received by the 20th of January 2021, when accepted by the Offeror, will receive a Trade Confirmation and an Assignment Agreement, which is to be executed subsequently. Later acceptances may still be accepted at the absolute discretion of the Offeror.
Reservation of Rights
The Offeror expressly reserves it right, in its sole and absolute discretion, not to accept any tendered Securities, not to purchase Securities or to extend, re-open, withdraw or terminate the Offer and to amend or waive any of the terms and conditions of the Offer in any manner (including, but not limited to, purchasing more or less than the Maximum Acceptance Amount), subject to applicable laws and regulations.
Further Information
Southey Capital Ltd
Ensign House, Admirals Way
London E14 9XQ
United Kingdom
[email protected]
Form of Acceptance
From:
To: [email protected]
Re: SNS Bank NV and SNS REAAL NV
Dear Sirs,
In respect of the Offer dated 21st of December 2020 advising of an Offer from Southey Capital Ltd to purchase notes issued by SNS BANK NV and or SNS REAAL NV at 18.5% of the nominal amount.
I / we hereby accept the Offer.
Please specify
Name:
Address:
Email:
Phone:
Custodian bank:
Signature of Holder
Title:
Southey Capital Ltd, will inform tendering holders of their acceptance by Southey Capital Ltd, and subsequently send copies of the transaction documentation (Trade Confirmation and Assignment Agreement)
London
THIS OFFER IS SUBJECT TO ENGLISH LAW. NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR TO ANY US PERSON OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
SOUTHEY CAPITAL LTD ANNOUNCES AN INVITATION TO PURCHASE SECURITIES OF SNS BANK NV AND SNS REAAL NV FOR CASH
Today, Southey Capital Ltd (then "Offeror") has launched an invitation to holders of the securities issued by SNS Bank NV and SNS REAAL NV, which have been expropriated by the State of Netherlands, to tender for purchase by the Offeror for cash, subject to applicable offer and distribution restrictions.
| Security | WKN | ISIN | Technical Common Code | Offer Price |
| SNS Bank 11.25 Perp | A1AQE5 | XS0468954523 | 089997798 | 18.5% |
| SNS Bank 6.25 10/26/20 | A1A2YG | XS0552743048 | 089998085 | 18.5% |
| SNS REAAL Float Perp | A0NZVX | XS0310904155 | 089997496 | 18.5% |
Subject to the Offeror accepting and any additional documentation being, the Offeror will pay an amount in cash equal to 18.5% of the nominal amount of each Security accepted for purchase by the Offeror.
Rationale for the Offer
The Offeror believes that the Offer will provide an opportunity to holders to realize liquidity with respect to their Securities that might not otherwise be available to such holders.
Acceptance Procedure
Holders that wish to accept the offer are requested to complete the attached Form of Acceptance and send this directly via email to the Offeror at [email protected], attaching evidence of their holding. Forms of Acceptance received by the 20th of January 2021, when accepted by the Offeror, will receive a Trade Confirmation and an Assignment Agreement, which is to be executed subsequently. Later acceptances may still be accepted at the absolute discretion of the Offeror.
Reservation of Rights
The Offeror expressly reserves it right, in its sole and absolute discretion, not to accept any tendered Securities, not to purchase Securities or to extend, re-open, withdraw or terminate the Offer and to amend or waive any of the terms and conditions of the Offer in any manner (including, but not limited to, purchasing more or less than the Maximum Acceptance Amount), subject to applicable laws and regulations.
Further Information
Southey Capital Ltd
Ensign House, Admirals Way
London E14 9XQ
United Kingdom
[email protected]
Form of Acceptance
From:
To: [email protected]
Re: SNS Bank NV and SNS REAAL NV
Dear Sirs,
In respect of the Offer dated 21st of December 2020 advising of an Offer from Southey Capital Ltd to purchase notes issued by SNS BANK NV and or SNS REAAL NV at 18.5% of the nominal amount.
I / we hereby accept the Offer.
| Security Description | WKN | ISIN / Technical Common Code | Nominal Amount |
| SNS Bank 11.25 Perp | A1AQE5 | XS0468954523 / 089997798 | |
| SNS Bank 6.25 10/26/20 | A1A2YG | XS0552743048 / 089998085 | |
| SNS REAAL Float Perp | A0NZVX | XS0310904155 / 089997496 |
Name:
Address:
Email:
Phone:
Custodian bank:
Signature of Holder
Title:
Southey Capital Ltd, will inform tendering holders of their acceptance by Southey Capital Ltd, and subsequently send copies of the transaction documentation (Trade Confirmation and Assignment Agreement)
