BARCLAYS AFRICA GROUP LIMITED - Barclays Plc announcement on shareholding in Barclays Africa Group and withdrawal of cautionary

Barclays Plc announcement on shareholding in Barclays Africa Group and withdrawal of cautionary

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



BARCLAYS PLC ANNOUNCEMENT ON SHAREHOLDING IN BARCLAYS AFRICA
GROUP AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the cautionary announcement released at 07h05 (SAST) on
Monday, 29 February 2016. In its results announcement today at approximately 07h00 (BST)
time (09h00 SAST), Barclays PLC made the following statement regarding their shareholding
in BAGL:

“Proposed selldown of BAGL

We are today announcing our intention to sell down our 62.3% interest in our African
business, BAGL, over the coming two to three years, to a level which will permit us to
deconsolidate it from an accounting and regulatory perspective, subject to shareholder and
regulatory approvals if and as required.

BAGL is a well-diversified business and a high quality franchise. However the stake in BAGL
presents specific challenges to Barclays as owners, such as the level of capital held in
respect of BAGL, the international reach of the UK Bank Levy, the GSIB buffer, and
MREL/TLAC and other regulatory requirements. BAGL is today reporting a 17% return on
equity for 2015 in its standalone local currency results versus the 8.7% return reported for
Africa Banking in Barclays’ results.“

The BAGL Board notes that it is clear from this announcement that Barclays PLC is reducing
its shareholding in BAGL due to recently introduced regulatory burdens specific and particular
to Barclays PLC as a UK headquartered and globally significant financial institution. These
regulations significantly decrease BAGL’s standalone returns for Barclays PLC.

We will now actively engage with Barclays PLC and our regulators to ensure that this process
has an appropriate and satisfactory outcome for all our stakeholders.

The cautionary announcement dated 29 February 2016 is hereby withdrawn.
Johannesburg
1 March 2016


Enquiries:
Nadine Drutman (Group Company Secretary)
Nadine.Drutman@barclaysafrica.com
Tel: 011 350 5347


Independent lead sponsor to Barclays Africa Group:
J.P. Morgan Equities South Africa Proprietary Limited


Joint sponsor to Barclays Africa Group:
Corporate and Investment Banking, a division of Absa Bank Limited

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