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JSE ABSP ASA
ABSP AMAGB
ASA/ABSP - Absa Group Limited/Absa Bank Limited - Premature Release of Absa
Interim Results
ABSA GROUP LIMITED
Authorised financial services
and registered credit provider (NCRCP7)
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(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)
Premature Release of Absa Interim Results
The JSE Limited (JSE) and Absa Group Limited (Absa) confirm that the
independent investigation into the circumstances surrounding the premature
release of Absa`s interim results has been concluded. It has been established
that an unintentional breach of Rule 3.5 of the JSE Listings Requirements
occurred in that price sensitive information was provided to the media prior
to its release over SENS. Rule 3.5 stipulates that price sensitive information
may not be provided to the media prior to its release on SENS even where such
information is only to be published after release over SENS.
The JSE has decided not to impose a further penalty on Absa after considering
the following:
- the mitigation implemented by Absa to prevent or minimise any
potential undesirable effects;
- the public censure that has already occurred;
- that the Absa results were in line with the trading update published
on 29 July 2010;
- that the results had very little impact on the volumes and value
traded after their release; and
- the immediate notification of the JSE by Absa once it was discovered
that the breach had occurred.
Absa is also further implementing a number of enhanced governance actions and
controls to ensure that a similar incident does not occur in future, including
reviewing third party supplier governance and limiting publication to daily
newspapers.
9 September 2010
Sponsor:
J.P. Morgan Equities Limited
Date: 09/09/2010 17:02:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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