BARCLAYS AFRICA GROUP LIMITED - BARCLAYS AFRICA GROUP/ABSA BANK - High court sets aside Public Protector's remedial actions.
BGA ABSP 201802190019A
BARCLAYS AFRICA GROUP/ABSA BANK - High court sets aside Public Protector's remedial actions.
BARCLAYS AFRICA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000174124
JSE share code: BGA
(“Barclays Africa Group”)
ABSA BANK LIMITED
Authorised financial services and registered credit provider (NCRCP7)
Incorporated in the Republic of South Africa
Registration number: 1986/004794/06
JSE share code: ABSP
ISIN: ZAE000079810
(“Absa”)
HIGH COURT SETS ASIDE PUBLIC PROTECTOR’S REMEDIAL ACTIONS
Barclays Africa Group shareholders are advised that the North Gauteng High Court delivered its
judgment in the matter between Absa Bank (Absa) and the Public Protector on Friday.
As indicated on 20 June 2017, Absa applied to the High Court to set aside the Public Protector’s
final report and its remedial actions, which included recovering R1.125bn from Absa relating to
its acquisition of Bankorp in April 1992.
The High Court found in Absa’s favour by setting aside the Public Protector’s remedial actions
and awarding punitive costs against the Public Protector.
Johannesburg
19 February 2018
Enquiries:
Alan Hartdegen
(+2711) 350-2598
E-mail: Alan.Hartdegen@barclaysafrica.com
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Corporate and Investment Bank – a division of Absa Bank Limited
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