ABSP - Absa Bank Limited - Private Placement Of Ab
JSE ABSP
ABSP
ABSP - Absa Bank Limited - Private Placement Of Absa Bank Preference Shares
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
ABSA BANK LIMITED - PRIVATE PLACEMENT OF ABSA BANK PREFERENCE SHARES ("ABSP
preference shares")
Investors are referred to Absa Bank`s announcement dated 20 March 2007 relating
to the monthly ABSP preference share issuance programme.
As part of this programme, Absa Bank intends to privately place further ABSP
preference shares to selected investors at R878.87 per preference share,
equivalent to an effective dividend yield of 72.90% of prime. The share price
was determined with reference to the pricing mechanism announced in the above
announcement, being the volume-weighted average price of ABSP preference shares
on the JSE for the preceding five trading days.
An amount up to ZAR 300 million of ABSP preference shares will be issued
pursuant to this placement, which closes at 12h00 on Thursday 03 May 2007.
The new Absa Bank preference shares will rank pari passu with the Absa Bank
preference shares already in issue.
Application will be made to JSE Limited for the new Absa Bank preference shares
to be listed on the "Preference Shares" sector of the JSE lists.
For further information, please contact:
Enquiries
Carel Gronum
General Manager: Capital Management
Tel: (+2711) 350 8995;
e-mail: carelg@absa.co.za
Issued by:
Jacques Badenhorst
Head: Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg
Tel: (+2711) 350-4061 Fax: (+2711) 350-6487
E-mail: jacques.badenhorst@absa.co.za
Lead sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Co-sponsor:
Absa Capital, a division of Absa Bank Limited
Johannesburg
02 May 2007
Date: 02/05/2007 15:12:01 Produced by the JSE SENS Department.
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