Nedbank Eyethu Retail Scheme Termination
FREQUENTLY ASKED QUESTIONS |
| 1. |
Will there be a second Eyethu Retail Scheme? |
No, but anyone interested in investing in Nedbank and owning a share of the company can do so on the open market. |
| 2. |
What has happened to my shares as I have not received a termination notice? |
Should you not receive a termination notice, please contact the Eyethu Call Centre on 0861 393 633. |
| 3. |
If I missed payments for any reason, will I still qualify for bonus shares? |
Only if you met all the criteria mentioned in the Rules of the Scheme, would you qualify for bonus shares. The bonus shares are determined by the number of transactions that were made on your account over the three year period, as well as the length of time you participated in the Scheme (36 months). |
| 4. |
I have not been utilising my account and would like to know if I am still a shareholder. |
Yes, you are still a shareholder, however, if you have not been conforming, you will lose out on capital protection and bonus shares. |
| 5. |
Do I qualify for shares if I have missed payments? |
Yes, you will qualify for shares depending on the payments made. |
| 6. |
Will my bonus shares be taxed when they are sold? |
Yes, they will be taxed at 0,25% of the consideration amount. |
| 7. |
What will happen if I do not provide the scheme administrator with my instructions? |
Your shares will be retained in a nominee account, but a monthly custodial fee of R50.92 inclusive of VAT will be payable. Any cash under the management of the scheme administrator will be subject to a monthly fee of R39.90 inclusive of VAT. Should there not be sufficient funds in your account to cover these monthly fees, an appropriate number of your shares will be sold to cover the costs. These fees are subject to annual increases. |
| 8. |
What documentation will be required by the scheme administrator in order to sell/transfer my shares? |
The scheme administrator will require a completed client instruction form, a certified copy of your green bar coded identity document, proof of your physical address (not older than 3 months) and a confirmation of your bank account details. |
| 9. |
Am I allowed to use a stockbroker other than BoE Stockbrokers should I choose to retain my shares? |
Yes, however, you will be required to provide your broker’s details. |
| 10. |
Is there a cost to sell my shares once in the share‑trading account? |
Yes, when you open the account the broker will discuss the brokerage fees applicable on your account. |
| 11. |
Is an estate late account required to be opened for a deceased participant? |
Yes, the Administration of Estates Act requires that an estate late account be opened. |
