Wrap Text
Dealings by executive directors, prescribed officers and the company secretary of Absa Group
ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000255915
JSE share code: ABG
Bond Issuer Code: ABGI
(“Absa Group” or the “Group”)
DEALINGS BY EXECUTIVE DIRECTORS, PRESCRIBED OFFICERS AND COMPANY SECRETARY
OF ABSA GROUP
In accordance with paragraph 3.63 of the JSE Limited Listings Requirements, shareholders are advised
that the following ordinary shares have been awarded to executive directors, prescribed officers and the
company secretary of Absa Group:
1. Absa Group Share Incentive Plan (SIP) – Share Incentive Plan Performance Award/s (SIPP)
The Share Incentive Plan (“SIP”) Long-Term Performance Award is designed to incentivise long-term
performance with vesting of awards, subject to fulfilment of a combination of financial and non-financial
Absa Group performance targets (as disclosed in the Group’s Remuneration Report for 2022) measured
over a three-year performance period. Award will vest on or around the third anniversary of the grant date,
subject to the achievement of the performance targets, and continued employment requirements, as set
out in the SIP rules. Dividend equivalents may be added to the Awards at the vesting of an Award in terms
of the Share Incentive Plan Rules and will be paid to the extent that the shares vest.
The number of shares under the Award was fixed with reference to the 20-day volume-weighted average
price preceding the grant date (being 3 April 2022). The Awards were granted as set out in the table below,
and have since been accepted on the date indicated below.
Number of On Target value at
Price of
Acceptance Shares award date (ZAR),
Officer Grant Date Award Type Shares at
Date Awarded subject to performance
Grant (ZAR)
(*note) targets (*note)
Arrie Rautenbach 03 April 2023 19 April 2023 Performance 93,793 181.25 16,999,981
Award
Jason Quinn 03 April 2023 19 April 2023 Performance 71,724 181.25 12,999,975
Award
Charles Russon 03 April 2023 19 April 2023 Performance 60,689 181.25 10,999,881
Award
Faisal Mkhize 03 April 2023 19 April 2023 Performance 46,896 181.25 8,499,900
Award
Cowyk Fox 03 April 2023 19 April 2023 Performance 46,896 181.25 8,499,900
Award
Geoffrey Lee 03 April 2023 19 April 2023 Performance 46,896 181.25 8,499,900
Award
Nadine Drutman 03 April 2023 19 April 2023 Performance 22,068 181.25 3,999,825
Award
Note:
* The value and number of shares will vest, subject to the extent that the performance targets have been met.
2. Absa Group Share Incentive Plan (SIP) - Deferred Awards (SIPD)
The number of shares under the Deferred Awards (in respect of short-term incentives paid for the 2022
financial year’s performance, and as already set out in the Group’s 2022 Remuneration Report) was fixed
with reference to the 20-day volume-weighted average price preceding 3 April 2023 (the grant date). The
table below sets out the deferred short-term incentives which were awarded under the Deferred Award and
granted to the executive directors, prescribed officers and company secretary. Deferred Awards will vest
in three equal tranches, on or around the first, second and third anniversary of the grant date subject to the
rules of the SIP (as amended from time to time). Dividend equivalents may be added to the Deferred
Awards at the vesting of a Deferred Award tranche. The Deferred Award is subject to continued
employment at date of vesting.
These Deferred Awards have since been accepted on the date indicated below.
Number of
Acceptance Price of Shares Value at Award
Officer Grant Date Award Type Shares
Date at Grant (ZAR) Date (ZAR)
Awarded
Arrie Rautenbach 03 April 2023 19 April 2023 Deferred Award 48,275 181.25 8,749,844
Jason Quinn 03 April 2023 19 April 2023 Deferred Award 38,620 181.25 6,999,875
Charles Russon 03 April 2023 19 April 2023 Deferred Award 35,862 181.25 6,499,988
Faisal Mkhize 03 April 2023 19 April 2023 Deferred Award 16,551 181.25 2,999,869
Cowyk Fox 03 April 2023 19 April 2023 Deferred Award 16,551 181.25 2,999,869
Geoffrey Lee 03 April 2023 19 April 2023 Deferred Award 16,551 181.25 2,999,869
Nadine Drutman 03 April 2023 19 April 2023 Deferred Award 6,896 181.25 1,249,900
Clearance to deal has been obtained for the above-mentioned transactions and all transactions were
executed off market.
Johannesburg
20 April 2023
Enquiries:
Alan Hartdegen
(+27 72) 576-2713
E-mail: alan.hartdegen@absa.africa
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Absa Bank Limited (Corporate & Investment Bank)
Date: 20-04-2023 12:29:00
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