JSE ABSP
ABSP
ABSP - ABSA Bank Limited - 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 - 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
such day is 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."
The volume-weighted average price of ABSP preference shares for the five-day
period preceding the December issue date is R845,97, which is equivalent to an
effective yield of 76,65% of the prime interest rate). Since this effective
yield exceeds the 75% of the prime cap referred to above, Absa Bank has decided
not to issue further ABSP preference shares in December 2007.
Enquiries:
Carel Gronum
Group Treasurer
Tel: (+2711) 350 8995
e-mail: carelg@absa.co.za
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Johannesburg
6 December 2007
Date: 06/12/2007 14:12:02 Produced by the JSE SENS Department.
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