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Absa Group Limited - Implementation And Results Of The Odd-lot Offer
Release Date: 08/09/2003 14:47:01 Code(s): ASA
ABSA GROUP LIMITED - IMPLEMENTATION AND RESULTS OF THE ODD-LOT OFFER
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/003934/06)
JSE code: ASA
Issuer code: AMAGB
ISIN: ZAE000013389
("Absa")
IMPLEMENTATION AND RESULTS OF THE ODD-LOT OFFER
1. IMPLEMENTATION OF THE ODD-LOT OFFER
Ordinary shareholders are advised that the odd-lot offer to ordinary
shareholders, who held less than 100 ordinary shares in Absa ("odd-lot
shareholders") at the close of business on Friday, 5 September 2003, has
been duly implemented.
2. RESULTS OF THE ODD-LOT OFFER
2.1 The total number of ordinary shares made available by those odd-lot
shareholders who elected to sell their odd-lot shareholdings and by those
who failed to make an election and who were therefore deemed to have sold
their odd-lot shareholdings is 503 174 ordinary shares which have been
repurchased by Absa, in terms of a specific authority granted at the
general meeting held on Friday, 22 August 2003, at R38,03 per ordinary
share (being the offer price of R36,22 per ordinary share plus a 5%
premium) for a total consideration of R19 135 707,22. These ordinary
shares will be cancelled, delisted and restored to the status of authorised
ordinary share capital.
2.2 The total number of ordinary shares purchased by those odd-lot shareholders
who elected to purchase sufficient additional ordinary shares to increase
their odd-lot shareholdings to holdings of 100 ordinary shares is 11 499
ordinary shares which have been issued by Absa, in terms of a specific
authority granted at the general meeting held on Friday, 22 August 2003, at
R36,22 per ordinary share for a total cash consideration of R416 493,78.
The listing of these ordinary shares has been approved by the JSE
Securities Exchange South Africa.
2.3 The total number of ordinary shares which continue to be held by those odd-
lot shareholders who elected to retain their odd-lot shareholdings is
18 645. As a result of the implementation of the odd-lot offer, the number
of ordinary shareholders has been reduced by 18 270.
3. ODD-LOT SHAREHOLDERS WHO HOLD CERTIFICATED ORDINARY SHARES
3.1 In respect of those odd-lot shareholders who hold certificated ordinary
shares and who elected to purchase additional ordinary shares, new share
certificates reflecting the additional shares purchased will be posted at
the risk of such odd-lot shareholder on or about Monday, 8 September 2003.
Cheques and electronic transfers in respect of the sale of odd-lot
shareholdings will be posted to the relevant odd-lot shareholders or
effected on or about Monday, 8 September 2003, at the risk of such odd-lot
shareholders and against surrender of their relevant documents of title.
3.2 Certificated odd-lot shareholders who elected to sell their odd-lot
shareholdings or who failed to make an election and who were therefore
deemed to have sold their odd-lot shareholdings are reminded that in
order for their payments, in respect of their sold odd-lot shareholdings,
to be effected they are required to submit their relevant documents of
title to the transfer secretaries, Computershare Limited, Ground Floor, 70
Marshall Street, Johannesburg, 2001 (PO Box 61051, Marshalltown, 2107).
These odd-lot shareholders are also reminded that their documents of title
will no longer be good for trading after Friday, 5 September 2003, and will
have no value other than to receive the proceeds of the sale of shares at
the offer price plus a 5% premium upon surrender.
3.3 No interest will be paid on cheques not deposited or amounts held in
trust, pending the surrender of documents of title of those certificated
odd-lot shareholders who have not dematerialised their shares.
4. ODD-LOT SHAREHOLDERS WHO HOLD DEMATERIALISED ORDINARY SHARES
Any movement in the number of ordinary shares held and amounts
payable/receivable by an odd-lot shareholder who has dematerialised
his/her ordinary shares, as a result of the implementation of the odd-
lot offer, will be automatically updated and debited/credited in the
odd-lot shareholder"s account with the Central Securities Depository
Participant or stockbroker selected by that odd-lot shareholder on or
about Monday, 8 September 2003.
Johannesburg
8 September 2003
HELPLINE:
0861 100 724 or + 27 11 775 3448 if calling from outside South Africa
Merchant bank and co-sponsor
Corporate & Merchant Bank
Corporate Finance
Absa Bank Limited
Reg. No. 1986/004794/06
Lead sponsor
Merrill Lynch
Global Markets & Investment Banking Group
Merrill Lynch South Africa (Pty) Ltd
Registration number 1995/001805/07
Registered Sponsor and Member of the JSE Securities Exchange South Africa
Legal advisers
Webber Wentzel Bowens
Information agent
Georgeson Shareholder
Transfer secretaries
Computershare Limited
(Registration number 2000/006082/06)
Date: 08/09/2003 02:47:03 PM Produced by the JSE SENS Department
