ASA/ABSP - ABSA Group/ABSA Bank - Acquisition Of Further MEEG Bank Shares By
JSE ASA ABSP
ABSP AMAGB
ASA/ABSP - ABSA Group/ABSA Bank - Acquisition Of Further MEEG Bank Shares By
ABSA Group
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa or Absa Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
ACQUISITION OF FURTHER MEEG BANK SHARES BY ABSA GROUP
Shareholders are hereby advised that Absa subscribed for additional ordinary
shares in Meeg Bank Limited (Meeg Bank) for R53 million cash on 7 March 2008,
which has resulted in Absa, directly and indirectly via Absa Bank, increasing
its ordinary shareholding in Meeg Bank from 49,7% to a preliminary 74,5%. The
subscription price shall be equal to the audited net asset value per Meeg Bank
ordinary share at 31 March 2008 and accordingly the preliminary number of shares
subscribed for by Absa on 7 March 2008 will be adjusted once the 31 March 2008
year-end audited net asset value for Meeg Bank is determined.
The transaction described above is an affected transaction in terms of the
Securities Regulation Code on Takeovers and Mergers and the Rules of the SRP.
Accordingly, Absa shall make an offer to acquire 100% of the remaining Meeg Bank
ordinary shares that Absa does not already own at a cash price equal to the
audited net asset value per Meeg Bank ordinary share at 31 March 2008, plus a
premium of 20%.
Johannesburg
19 March 2008
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Enquiries:
Absa Investor Relations
Ms Nerina Bodasing
Tel: +27 11 350 2598
Fax: +27 11 350 6487
Email: nerina.bodasing@absa.co.za
Date: 19/03/2008 08:00:02 Produced by the JSE SENS Department.
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