ABSP - Absa Bank Preference Shares (ABSP Preferenc
JSE ABSP
ABSP
ABSP - Absa Bank Preference Shares (ABSP 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 - 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 quoted
below:
"Absa Bank has further decided to initiate a monthly ABSP preference share
issuance programme. The programme duration will be from 1 May 2007 to 31
December 2007. The details of the issuance programme are as follows:
- on the first Thursday of every month (or the first business day
thereafter if not a business day), Absa Bank will place further ABSP
preference shares, up to a maximum of R300 million per issue, to
selected investors;
- each such placement of further ABSP preference shares will be priced
at the volume-weighted average price of ABSP preference shares on the
JSE for the preceding five trading days, capped at an effective yield
of 75% of the prime interest rate."
As the volume-weighted average price (VWAP) of ABSP preference shares in
the five-day period preceding the October issue date is R841,64, equivalent
to an effective yield of 75,65%, which exceeds the 75% cap referred to
above, Absa Bank has decided not to issue further ABSP preference shares in
October 2007.
Enquiries:
Carel Gronum
Group Treasurer
Tel: (+2711) 350 8995
e-mail: carelg@absa.co.za
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Johannesburg
3 October 2007
Date: 03/10/2007 12:38:31 Produced by the JSE SENS Department.
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