ABSA BANK LIMITED - Barclays Africa/Absa Bank - Response to the Public Protector's final report

Barclays Africa/Absa Bank - Response to the Public Protector's final report

BARCLAYS AFRICA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000174124
JSE share code: BGA
(“Barclays Africa” or “the Group”)

ABSA BANK LIMITED
Authorised financial services and registered credit provider (NCRCP7)
Incorporated in the Republic of South Africa
Registration number: 1986/004794/06
JSE share code: ABSP
ISIN: ZAE000079810
(“Absa Bank”)


RESPONSE TO PUBLIC PROTECTOR’S FINAL REPORT


The Public Protector released a final report on Monday (“the report”) regarding her investigation into the
assistance provided by the South African Reserve Bank to Bankorp between 1985 and 1995. Bankorp was
acquired by Absa in 1992.

Barclays Africa and Absa Bank shareholders are advised that Absa has decided to approach the High Court
in order to have the report reviewed and set aside. This is due to numerous misrepresentations and factual
inaccuracies which form the basis of the Public Protector's findings, and what we submit are the irrational and
unreasonable legal conclusions in the report. The misconceptions and inaccuracies in the report are profound
and damaging to Absa’s reputation.

We have accordingly instructed our lawyers to immediately prepare an application to the High Court to have
the report and its remedial actions set aside.

We deny that Absa received R1,125bn by way of unlawful assistance and we firmly maintain our position that
all of Absa’s obligations to the South African Reserve Bank were met in full by October 1995.

We will update shareholders on this matter as appropriate.

Johannesburg
21 June 2017

Enquiries:
Alan Hartdegen
(+2711) 350-2598
E-mail: Alan.Hartdegen@barclaysafrica.com
                                                                                                Page 1 of 2
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Joint Sponsor:
Corporate and Investment Bank – a division of Absa Bank Limited




                                                                  Page 2 of 2

Date: 21/06/2017 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.