Absa Group Limited - Cautionary announcement
Absa Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/003934/06)
JSE code: ASA Issuer code: AMAGB
ISIN: ZAE000013389
("Absa")
Cautionary announcement
Shareholders are advised that Absa is in advanced negotiations with regard to
the introduction of Empowerment Shareholders at the Absa Group level. These
negotiations include the appointment of a consortium led by Messrs Tokyo
Sexwale and Leslie Maasdorp and Mrs Nthobi Angel to assist in the formation of
an appropriate empowerment grouping. The grouping is to be broad-based and
representative of a countrywide spectrum of empowerment parties. The process
is well underway and appropriate announcements will be made in due course. It
is envisaged that a holding of 10% will be made available for this purpose.
Should these negotiations be successfully concluded it may have an effect on
the price at which Absa shares trade on the JSE Securities Exchange South
Africa. Accordingly, shareholders are advised to exercise caution when trading
in Absa"s shares until further announcements are made. The proposed
transaction is subject to the necessary shareholder and regulatory approvals.
Johannesburg
24 November 2003
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
Co-sponsor
ABSA Corporate and Merchant Bank
Corporate Finance
Absa Bank Limited
Reg. No. 1986/004794/06
Date: 24/11/2003 07:07:01 AM Supplied by www.sharenet.co.za
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