ABSP - ABSA Bank Limited - ABSA Bank Preference Sh
JSE ABSP
ABSP
ABSP - ABSA Bank Limited - 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 - 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 of ABSP preference shares for the five-
day period preceding the November issue date is R840,74, which is equivalent
to an effective yield of 76,35% of the prime interest rate (prime). Since
this effective yield exceed s the 75% of prime cap referred to above, Absa
Bank has decided not to issue further ABSP preference shares in November
2007.
Enquiries:
Carel Gronum
Group Treasurer
Tel: (+2711) 350 8995
e-mail: carelg@absa.co.za
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Johannesburg
1 November 2007
Date: 01/11/2007 15:44:01 Produced by the JSE SENS Department.
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