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Posting of circular in relation to the proposed 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”)
POSTING OF CIRCULAR IN RELATION TO THE PROPOSED ABSA B-BBEE TRANSACTION
Further to the SENS announcement dated 31 March 2023 relating to Absa proposing to enter into a
broad-based black economic empowerment transaction for 7% of its issued share capital (post the
issuance of new Absa ordinary shares) (“Proposed B-BBEE Transaction”), comprising:
- a Corporate Social Investment trust for 4% of Absa’s issued share capital (post the issuance of new
Absa ordinary shares), which will constitute a broad-based ownership scheme as contemplated in
the Financial Sector Code; and
- a staff trust for 3% of Absa’s issued share capital (post the issuance of new Absa ordinary shares),
which will be an equity-settled staff incentivisation scheme for staff members of Absa group
companies in South Africa,
shareholders are advised that the circular setting out the full terms and conditions of the Proposed B-
BBEE Transaction and including a notice convening an extraordinary general meeting of Absa
shareholders (“EGM”) (“Circular”) has been posted to Absa shareholders.
The EGM will be held on 2 June 2023, on the same day as and after Absa’s annual general meeting.
The salient dates and times for the EGM are as follows:
2023
Circular distribution record date, being in terms of section 59(1)(b) of Friday, 21 April
the Companies Act, the date by which an Absa Shareholder is
required to be recorded as such in the Register in order to be eligible
to receive the Circular
Circular posted to Absa shareholders on Tuesday, 2 May
Last day to trade in order for Absa shareholders to be recorded in the Tuesday, 23 May
register in order to be eligible to participate and vote at the EGM
Voting record date in order for Absa shareholders to be recorded in Friday, 26 May
the register in order to be eligible to vote at the EGM
Last day and time to give notice to participate in the EGM electronically Wednesday, 31 May
by 11:30 on
Recommended last day and time to lodge forms of proxy with the Thursday, 1 June
transfer secretaries by 11:30 on
A form of proxy may alternatively be handed to the chairman of the Friday, 2 June
EGM prior to the commencement of the EGM
EGM to be conducted at 11:30 or 15 minutes after the conclusion of Friday, 2 June
the Annual General Meeting (whichever is later) on
Results of the EGM released on SENS on Friday, 2 June
The Circular will also be available on Absa’s website at the following address:
https://www.absa.africa/investor-relations/jse-regulatory-announcements/
Johannesburg
2 May 2023
Enquiries:
Alan Hartdegen
E-mail: alan.hartdegen@absa.africa
Financial advisors: Oxford Partners and UBS
Joint sponsor and 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 Proprietary Limited
Date: 02-05-2023 04:00:00
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