Thebe Stockbroking (Pty) Ltd

Thebe Stockbroking (Pty) Ltd is an independent full service stockbroker. Our clients include some of South Africa's largest insurance companies, pension funds, merchant banks and asset managers. In addition, Thebe Stockbroking serves an extensive private client base.

Founded in 1964 as PLJ van Rensburg and Partners, the partnership was incorporated in 1989 and became a public company in 1997 at which time the name was changed to PLJ Financial Services Limited. In 2003, Thebe Investment Corporation bought a controlling interest in PLJ Financial Services Ltd, and we became Thebe Stockbroking (Pty)Ltd.

Thebe Stockbroking is a member of the Johannesburg Stock Exchange (JSE), the Bond Market Association of South Africa (BMA) and the Fund Managers Association of South Africa.

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Our goal is to be a top class stock broking firm embracing a culture of service excellence, unquestionable integrity and the highest ethical standards.

Our highly innovative investment products are created using leading edge investment thinking in order to suit each individual client's risk/return profile.

Our clients form an important and integral part of our business. To best serve our clients, we focus on attracting and retaining top quality staff who will be dedicated to developing long-term relationships with their clients. In addition we aim to enhance our clients' investment knowledge through seminars and lectures.

In view of the transitions necessary in South Africa to bring prosperity to a larger sector of the population, we are also assisting the cause of transformation in the stock broking industry.

Trading

Thebe Stockbroking provides individual and institutional clients with dealing services in South African equities, bonds, futures and options.

Our Equity and Bond Divisions have built an excellent reputation based on their integrity and comprehensive market knowledge. Our Derivatives Team controls a well-respected niche in the market. The structure of our trading divisions allow for continuous information exchanges between dealers, analysts, economists and portfolio managers enabling us to give our clients the broad picture on a vast range of different investments.

Electronic Trading:

Thebe Stockbroking decided in 1999 to offer its clients an online trading facility. SAinvestor.com was developed as a joint venture with Usko into probably the most comprehensive website for traders and investors. SAinvestor.com was officially launched in February.

Our vision was and still is to provide everything an investor or trader needs to make successful investment decisions and to manage his/her shares on the Internet. There must be market information and research as well as facilities for fundamental and technical analysis. Training for novice investors is extremely important. Our online trading website includes regularly updated JSE indices, the Dow Jones, Nasdaq, Rand/$, Gold price etc. There are also market commentaries, research, daily company results and analysis, warrant info, technical analysis studies, a full charting facility with all the tools, a learning centre, demo trading and live prices if you want to trade on the Internet. You can also view your portfolio at any time and be alerted whenever your share prices move a certain % via SMS or e-mail.

Usko's share was bought out in 2001 and SAinvestor.com is now a wholly owned subsidiary of Thebe Stockbroking. In 2003 Thebe Stockbroking merged its own trading website with that of SAinvestor.com to provide all the features and functionality on one website for all the clients. Thebe Stockbroking is continuously improving the website to stay at the forefront of new developments.

Research

Our analysts provide research for both individual and institutional clients on a full range of topics including:

• domestic and international economic trends
• market trends
• equities
• bonds
• portfolio and trading strategies
• futures and options strategies

Our team of analysts and dealers employ both fundamental and technical analysis when advising clients and aim to provide innovative research focused on those issues that have the biggest influence on the current market.

Portfolio/Fund Management.

Our Portfolio Management team provides complete portfolio management services and utilise modern, creative techniques to provide top quartile performance. We have managed individual and institutional portfolios successfully for more than 38 years and have a team that is both experienced and dynamic

Our investment strategy combines a top-down approach with a value based (bottom-up) approach. In addition, modern risk management strategies, developed by derivative experts are implemented when necessary to enhance long-term performance.

Treasury/Corporate Financial Services.

Our Treasury/Corporate Finance Division is involved in complex structured deals involving money market instruments and longer-term preference shares. Our clients include top South African institutions and corporates.

How do I open an account?

Simply provide us with a signed original Thebe Stockbroking mandate (we can fax or e-mail you a copy) as well as a copy of your ID. You can open an account in your personal capacity or on behalf of a legal entity (e.g. trust, CC or company). Proof of trust or company registration must be provided. Once we have the correct documents, an account number will be allocated to you and you can deposit cash or financial instruments. You can also open an account on the Internet if you go to Register on the above menu.

What is the difference between a MCS and a DCS mandate?

If you intend to manage you own investments and only require us to execute transactions as instructed by you, we require a signed MCS mandate. An MCS mandate authorises us to execute transactions on your account ONLY with your specific instruction.

If you want us to manage investments on your behalf a DCS mandate is required. With a DCS mandate, our professional portfolio managers have discretion to manage your account actively in accordance with our investment views but subject to your specific investment requirements. You can monitor the progress or your portfolio using the monthly portfolio statement that you will receive or on a daily basis on the Internet.

How does the trading process work?

Buying and selling shares is as simple as making a phone call. To place an order you phone one of our dealers and instruct him/her to execute a transaction. The dealer will require your Thebe Stockbroking account number, as well as specific instructions on how you want the order executed (e.g. execute at the ruling market price, only execute the transaction once a certain price is reached etc). Before entering your transaction in the market, the dealer will also check the BDA system to ensure that enough cash is available for buy orders or to ensure that the instruments to be sold are available for sale. Once the order is executed, the dealer will report the transaction to you and a broker's note confirming the transaction will be sent to you. In addition, all transactions as well the number of shares in your account will be reflected in your monthly statements.

Alternatively you can make use of our online trading facility where the process is automated and you can enter the order yourself. Please read the “Sitemap” and “FAQ” on www.ThebeStockbroking.co.za for an explanation

I still have share certificates at home. Can I sell these shares?

You will not be able to sell shares that are still in physical format. Physical share certificates have to be converted to electronic format (dematerialised) before they can be traded on the JSE. You need to deliver the share certificates to us and we will issue you a receipt and send the certificates in for dematerialisation. The dematerialisation process can take up to 3 weeks so it is important to hand them in as soon as possible.

When will proceeds of a sale be available on my account and how do I make a withdrawal?

Proceeds from the sale of shares can only be withdrawn 5 business days after the date of the transaction as this is when the transaction will be settled on STRATE. However, proceeds may be used immediately to buy other shares. Available cash in your account can be withdrawn at any stage by instructing our accounts department. Money will be deposited directly into your bank account. Such a request must be made in writing with your signature and a copy of your ID document.

Do I earn interest on cash in my account?

Yes. Interest on cash in your account is paid monthly by JSE Trustees (Pty) Ltd. The rate is market related and varies from month to month.

How much investment support can I expect from Thebe Stockbroking?

Our portfolio managers, analysts and dealers are available at all times for advice on specific shares or a discussion on the general trends in financial markets. We provide a daily Morning Perspective via e-mail containing major indicators as well as comments on company results and major domestic and international events. We also send clients regular fundamental and technical analysis on shares, futures and gilts as well as economic research. Our Thebe Stockbroking newsletter is included with your monthly statement and we hold seminars on a regular basis.

Please provide us with your email address if you wish to make use of these services.

Are my shares and cash protected?

The Stock Exchange Control Act as well as the Rules and Directives of the JSE provide the following protection for clients:

• You will receive a monthly statement of shares kept on your behalf.
• Your shares are kept in electronic format by our CSDP (Absa bank).
• All cash is paid over to JSE Trustees (Pty) Ltd and not kept by Thebe Securities.
• The inspectorate of the JSE ensures that all stockbrokers adhere to the Rules and Directives of the JSE.
• The Guarantee Fund of the JSE, as well as a mandatory Fidelity Guarantee Insurance Policy provides clients with the security against the misappropriation of their funds and/or shares by brokers.
• Our independent auditors do a full audit and client verification once a year.