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SKJ - Sekunjalo - - Absa corporate and business bank announces investment in Sekunjalo Sekunjalo Investments Limited (Incorporated in the Republic of South Africa) (Company registration no: 1996/006093/06) Share code: SKJ & ISIN: ZAE000017893 ("Sekunjalo")
Press Statement Absa Corporate and Business Bank announces investment in Sekunjalo 23 May 2007 Absa Corporate and Business Bank (ACBB) has announced the acquisition of nearly 10% of the "B" shares in JSE listed top empowerment group Sekunjalo Investments Limited (SIL). The shares are issued at 82 cents per share and the cash resources will have an earnings enhancement on the group. ACBB will act as a strategic partner to assist SIL with their funding requirements as they embark on their new strategy to invest in large scale broad based black economic empowerment opportunities in quality businesses. "Our investment in SIL is not only in line with the Absa Group`s strategic intent to support black economic empowerment, but also a sound investment in a reputable group," says Robert Emslie, Managing Executive of Absa Corporate and Business Bank. ACBB`s decision to invest in SIL is based on the philosophy of providing a full package of financial services. Says Emslie: "We do not want to make equity investments in isolation. We hope to use this equity investment to complement the current services that ACBB is already providing to Sekunjalo." Says Dr Iqbal Surve, Chairman and CEO of Sekunjalo, "We see this as the basis of a long-term association between SIL and Absa. The cash resources will be used to exponentially grow the higher margin businesses, expand the existing business units and fund new investment opportunities. This is important in the context of our strategic relationship and positioning our group for the larger BEE transactions." SIL is black owned, controlled and managed and has sound BEE credentials. Its principal investments include healthcare and pharmaceuticals, information technology, financial services, aquaculture and biotechnology, fishing, and enterprise development. SIL was recognised in 2006 as South Africa`s top empowerment company by a Financial Mail and Empowerdex survey of the Top 200 listed companies. -ends- Issued by: Absa Media Office (011) 350-3575 For more information please contact: Dr Iqbal Surve Sekunjalo Investments Limited Tel: (021) 702 7700/ 082 491 0179 Niek Joubert Absa Corporate and Business Bank Tel: (011) 350 2079 About Absa: The Absa Group Limited (Absa), listed on the JSE Limited, is one of South Africa`s largest financial services groups offering a complete range of banking, bancassurance and wealth management products and services. Absa`s business is conducted primarily in South Africa and on the African continent, where it has equity holdings in banks in Mozambique, Angola and Tanzania. At 31 December 2006, the Group had 672,0 million shares in issue and a market capitalisation of R84,1 billion. At 31 December 2006, Absa had assets of R495,1 billion, 749 physical outlets, 8,4 million customers, 7 053 automated teller machines and 35 154 permanent employees. Absa is a subsidiary of Barclays Bank PLC, which holds a stake of 56,6% in the Group. Barclays is an international financial services group engaged in retail and commercial banking, credit card issuing, investment banking, wealth management and investment management services. For more information, please visit the Absa website: www.absa.co.za. About SIL OVERVIEW CORPORATE PROFILE Sekunjalo Investments Limited is a Black-controlled investment holding company domiciled in the Republic of South Africa with international operations and points of representation in London and Mauritius. SIL is listed on the JSE Limited ("JSE"). The Sekunjalo Group is invested in two primary sectors i. e. Manufacturing and Resource-driven and Technology and Innovation-driven sectors. Within the Manufacturing and Resource-driven sector, the major investments are in Industrials (primarily fishing) and within the Technology and Innovation-driven sectors, the main investments are in Healthcare and Pharmaceuticals, Information Technology and Communication, Financial Services, Aquaculture, Biotechnology and Enterprise Development. Sekunjalo has recently received a number of prestigious BEE awards: - The BusinessMap Foundation Top BEE Partnership Award for 2007 - Financial Mail/ Empowerdex 2006 Award for Top Ranked BEE firm - The Financial Mail Empowerdex Award for 2007 for the Top-Ranked BEE Firm in the General Industrials sector of the JSE For more information, please visit the Sekunjalo website: www.sekunjalo.com Date: 23/05/2007 07:01:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
