ASA - Absa Group - Value Accruing To Absa Followin
ASA
AMAGB
ASA - Absa Group - Value Accruing To Absa Following The Visa Inc Initial
Public Offering
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 or the Group)
VALUE ACCRUING TO ABSA FOLLOWING THE VISA INC INITIAL PUBLIC OFFERING
On 19 March 2008, Visa Inc. (Visa), previously an association of banks,
listed on the New York Stock Exchange (NYSE). As part of this initial
listing, all associated banks, including Absa were allotted shares based on
their proportional membership of Visa.
Shareholders of Absa Group are advised that, pursuant to the listing of Visa
on the NYSE, the following cash and shares accrued to the Group:
- Cash (following the mandatory, partial redemption of allotted shares)
of $52 million (before tax)
- Shares (at an initial offering price of $44 per share) amounting to $42
million (before tax)
The value received in terms of the above transaction is not materially
higher than anticipated by management and accordingly has no material impact
on the performance guidance provided by management at the release of the
Group`s 2007 results on 19 February 2008.
Johannesburg
4 April 2008
Enquiries
Jacques Schindehutte
Group executive director
(+2711) 350-4850
E-mail: jacquessc@absa.co.za
Nerina Bodasing
Head: Investor Relations
(+2711) 350-2598
E-mail : nerina.bodasing@absa.co.za
Sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Date: 04/04/2008 16:55:08 Produced by the JSE SENS Department.
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