ABSA GROUP LIMITED - Absa B-BBEE Transaction Implementation

Absa B-BBEE Transaction Implementation

ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1986/003934/06)
JSE share code: ABG
ISIN: ZAE000255915
Bond issuer code: ABGI
(“Absa Group” or “Group” or “Absa”)


ABSA B-BBEE TRANSACTION IMPLEMENTATION

Further to the announcements released on SENS, including on 31 March 2023 and 2 June
2023, relating to the Absa Group’s proposed Broad-Based Black Economic Empowerment
(“B-BBEE”) and staff incentivisation transaction for 7% of Absa’s issued share capital (post
the issuance of the new shares) (the “Transaction”), Absa confirms that the Transaction has
become unconditional and was implemented on 1 September 2023.

In terms of the Transaction, 46,626,228 new Absa ordinary shares were issued to Newshelf
1405 (RF) Proprietary Limited at an issue price of R178.11, being the 10-day volume weighted
average price ending on 25 August 2023, the last practical date before the Transaction was
implemented. The new shares will be treated as treasury shares for accounting purposes.

Following the Transaction, Absa Group’s share capital comprises an authorised share capital
of 950,000,000 ordinary shares of R2.00 each and an issued share capital of 894,376,907
ordinary shares of R2.00 each.

In respect of the proposed cash-settled phantom share staff incentivisation schemes for staff
of Absa group companies outside South Africa, engagement with the affected entities is
substantially complete and all participating companies will implement the schemes with effect
from 1 September 2023.

Johannesburg
1 September 2023

Enquiries:
Alan Hartdegen
E-mail: alan.hartdegen@absa.africa

Joint financial advisors: Oxford Partners and UBS
Joint sponsor and joint financial advisor: Absa Corporate and Investment Bank, a division of
Absa Bank Limited
Legal Advisor: Edward Nathan Sonnenbergs Inc.
Lead Independent Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd




                                                                                    

Date: 01-09-2023 11:55:00
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