To view the PDF file, sign up for a MySharenet subscription.

ABSA GROUP LIMITED - Dealing by Group Company Secretary

Release Date: 04/10/2019 10:15
Code(s): ABG     PDF:  
 
Wrap Text
Dealing by Group Company Secretary

ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000255915
JSE share code: ABG
(“Absa Group” or “the Group”)



DEALING BY GROUP COMPANY SECRETARY

In accordance with paragraph 3.63 of the JSE Listings Requirements, shareholders are advised that the following ordinary
shares have been awarded to the Group Company Secretary:

Long Term Incentive Plan (LTIP) Award

The LTIP is designed to incentivise long-term performance with vesting of awards subject to fulfilment of a combination of
financial and non-financial Group performance targets. This LTIP award will vest on the Third anniversary of the grant date
subject to the achievement of the performance targets, and continued employment requirements as set out in the Plan Rules.
The number of shares under the 2019 LTIP was fixed with reference to the 20-day volume-weighted average price preceding
2 September 2019, which was the award date determined by the Group Remuneration Committee. The share award in
respect of the LTIP was granted as set out in the table below. The award has since been accepted on the date indicated
below.


                                                                    Number of   Value of On-    Number of   Maximum value at
                                                         Price of
                                                                    On-Target      Target         Stretch   award date (ZAR),
                          Acceptance                    Shares at
  Name       Grant Date                 Award Type                    Shares      Shares          Shares        subject to
                             Date                         Grant
                                                                     Awarded     Awarded         Awarded      performance
                                                          (ZAR)
                                                                      (*Note)     (*Note)         (*Note)    targets (*Note)
Nadine
             02/09/2019   01/10/2019     LTIP 2019      R150.51      16 610     R2,499,971.10    24 915     R3,749,956.65
Drutman


*Note: The value and number of shares will vest to the extent that the full, stretched performance targets have been met or
exceeded. A lower number of shares (resulting in a lower Rand value on vesting) will vest in the event that on-target
performance is achieved. Vesting will only occur if a minimum threshold level of performance is achieved. The Group
performance targets applicable to this award are set out in detail in our 2018 Remuneration Report, available online at
www.absa.africa.

Clearance to deal has been obtained for the abovementioned transaction.

Johannesburg
4 October 2019


Enquiries:
Alan Hartdegen
(+27 11) 350-2598
E-mail: Alan.Hartdegen@absa.africa

Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Joint Sponsor:
Absa Bank Limited (Corporate and Investment Bank)
                                                                                                                  Page 1 of 1

Date: 04/10/2019 10:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story