Wrap Text
Dealings by Directors, Prescribed Officers and Company Secretary of Absa Group
ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000255915
JSE share code: ABG
Bond Issuer Code: ABGI
(“Absa Group” or the “Group”)
DEALINGS BY DIRECTORS, PRESCRIBED OFFICERS AND COMPANY SECRETARY OF ABSA
GROUP
In accordance with paragraph 3.63 of the JSE Limited Listings Requirements, shareholders are advised
that the following ordinary shares have been awarded to executive directors, prescribed officers and the
company secretary of Absa Group:
1. Absa Group Share Incentive Plan (SIP) – Long-Term Performance Award (Award/s)
The Share Incentive Plan, Long Term Performance Award is designed to incentivise long-term
performance with vesting of awards, subject to fulfilment of a combination of financial and non-financial
Absa Group performance targets (as disclosed in the Group’s Remuneration Report for 2020) measured
over a three-year performance period. For executive directors and the prescribed officers, this Award will
vest in three equal tranches on the third, fourth and fifth anniversary of the grant date subject to the
achievement of the performance targets, and continued employment requirements as set out in the SIP
rules. Dividend equivalents may be added to the Awards at the vesting of an Award tranche in terms of
the SIP Rules and will be paid to the extent that the shares vest.
The number of shares under the Award was fixed with reference to the 20-day volume-weighted average
price preceding the grant date (being 1 April 2021), which was the Award date determined by the Absa
Group Remuneration Committee at the time that the quantum of the Awards was determined, having
regard to 2020 Group performance and individual ability to support and influence the future execution of
the Group strategy. The Awards were granted to the executive directors, prescribed officers and
company secretary as set out in the table below, and have since been accepted on the date indicated
below.
Number of On Target value at
Price of
Acceptance Shares award date (ZAR),
Officer Grant Date Award Type Shares at
Date Awarded subject to performance
Grant (ZAR)
(*note) targets (*note)
Daniel Mminele 01 April 2021 13 April 2021 Performance Award 117,702 R127.44 R14,999,942.88
Jason Quinn 01 April 2021 13 April 2021 Performance Award 78,468 R127.44 R9,999,961.92
Arrie Rautenbach 01 April 2021 13 April 2021 Performance Award 80,430 R127.44 R10,249,999.20
Charles Russon 01 April 2021 13 April 2021 Performance Award 54,927 R127.44 R6,999,896.88
Nadine Drutman** 01 April 2021 13 April 2021 Performance Award 26,679 R127.44 R3,399,971.76
Notes:
* The value and number of shares will vest, subject to the extent that the performance targets have been met.
** For the company secretary, vesting will be on the third anniversary of the grant date, but also subject to the Absa Group
performance conditions and continued employment.
2. Absa Group Share Incentive Plan - Deferred Award
The number of shares under the Deferred Awards (in respect of the 2020 financial year performance, and
as already set out in our 2020 Remuneration Report) was fixed with reference to the 20-day volume-
weighted average price preceding 1 April 2021 (the grant date). The table below sets out the deferred
incentives which were awarded under the Deferred Award and granted to the executive directors,
prescribed officers and company secretary off market. Deferred Awards will vest in three equal tranches,
on the first, second and third anniversary of the grant date subject to the rules of the SIP (as amended
from time to time). Dividend equivalents may be added to the Deferred Awards at the vesting of a
Deferred Award tranche. The Deferred Award is subject to continued employment at date of vesting.
These Deferred Awards have since been accepted on the date indicated below.
Number of
Acceptance Price of Shares Value at Award
Officer Grant Date Award Type Shares
Date at Grant (ZAR) Date (ZAR)
Awarded
Daniel Mminele* 01 April 2021 13 April 2021 Deferred Award 39,234 R127.44 R4,999,980.96
Jason Quinn* 01 April 2021 13 April 2021 Deferred Award 37,664 R127.44 R4,799,900.16
Arrie Rautenbach* 01 April 2021 13 April 2021 Deferred Award 37,664 R127.44 R4,799,900.16
Charles Russon* 01 April 2021 13 April 2021 Deferred Award 31,387 R127.44 R3,999,959.28
Nadine Drutman 01 April 2021 13 April 2021 Deferred Award 980 R127.44 R124,891.20
Note:
* The short-term incentives for 2020 were fully deferred into these Deferred Awards.
Clearance to deal has been obtained for the above-mentioned transactions.
Johannesburg
15 April 2021
Enquiries:
Alan Hartdegen – Head of Investor Relations
(+27 72) 576-2713
E-mail: alan.hartdegen@absa.africa
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Absa Bank Limited (Corporate & Investment Bank)
Page 2 of 2
Date: 15-04-2021 12:24:00
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