ABSA INCREASES CONFIDENCE IN UNIFER AND BEEFS UP ITS INTEREST
In line with Absa Group's strong commitment to financial services to the
emerging market, it has used a unique opportunity in the market to take an
additional 7% equity stake in UniFer Holdings, a leading emerging market
financial services provider.
UniFer CE, Gavin Kretzschmar, welcomed Absa's strengthened interest in the
group. "We have developed a strong relationship with our majority
shareholder and their backing has proved to be inestimable," he said, "and
Absa's increased interest in UniFer, reinforces the partnership,
particularly since the impact on the market free-float strengthens
credibility."
Bert Griesel, Absa group executive director commented: "An opportunity
presented itself whereby a block of UniFer shares from a non-strategic
shareholder became available. We are fully committed to the emerging market,
and see UniFer as our engine of financial services growth in this sector. We
took the opportunity to increase our stake."
"UniFer will continue to be an independently managed entrepreneurial
business and the importance that we place on this end of the market can not
be over-emphasised. We believe that our partnership with UniFer, combined
with Absa's Nupay and Flexi Banking Services, will do much to consolidate
this industry into one which is sustainable, viable and growing at above
average rates." said Griesel.
Kretzschmar noted that Absa's increased stake will not impact negatively on
the free-float of UniFer shares but rather presents the possibility that the
free-float will increase. Absa's hand is now a lot stronger in that they
have the ability to make a strategic play without loosing control of UniFer.
"There is an essential role to play in providing ethical affordable banking
to the emerging market. Absa's enlarged holding confirms that they are
serious about making UniFer the progressive and innovative leader in its
field."
"Business will continue as normal. We are committed to remaining a dynamic
market leader based on our knowledge of our tightly defined end of the
market," concludes Kretzschmar.
ENDS
ISSUED BY: Bullion PR and Communications
Contact person: Lola Lazarus
Tel: (011) 803-3615
e-mail: lola@bullionpr.com
ON BEHALF OF: UniFer Holdings Limited
Contact person: Gavin Kretzschmar; Chief Executive
Tel: (011) 259-7030
Mobile: 082 555 8483
Contact person: Ron l M ller; Investor Relations
Tel: (011) 259-7040
Mobile: 083 326 5996
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