ABSA GROUP LIMITED - Notice in terms of Section 45(5) of the Companies Act in anticipation of the Absa B-BBEE Transaction

Notice in terms of Section 45(5) of the Companies Act in anticipation of the Absa B-BBEE Transaction

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”)


NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT (FINANCIAL ASSISTANCE) IN
ANTICIPATION OF THE ABSA B-BBEE TRANSACTION

Absa Group shareholders (“Shareholders”) are referred to the announcements released on the Stock
Exchange News Service, including on 31 March 2023 and 2 June 2023, relating to the Absa Group
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”).

In anticipation of implementing the Transaction on 1 September 2023, Absa hereby notifies
Shareholders in terms of section 45(5)(a) of the Companies Act no. 71 of 2008 that the board of
directors has adopted resolutions to provide the financial assistance inherent in the overall
Transaction, and that the total value of all financial assistance during the financial year will exceed one
tenth of 1% of Absa’s net worth.


Johannesburg
25 August 2023
N Drutman


Enquiries:
Nadine Drutman
+27 (0) 11 350 5347
E-mail: Nadine.Drutman@absa.africa

Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Absa Bank - Corporate and Investment Bank




                                                                                                  

Date: 25-08-2023 03:23:00
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