ABSA GROUP LTD - ABSA GROUP LIMITED: FINALISATION OF THE BATHO BONKE CONSORTIUM
Absa Group Ltd (`Absa`)
JSE Share code: ASA
ISIN number: ZAE000013389
FINALISATION OF THE BATHO BONKE CONSORTIUM
Absa shareholders are referred to the Absa announcement dated 6 April 2004, the
circular to Absa shareholders dated 28 May 2004 and the results of general
meeting announcement dated 25 June 2004.
On 1 July 2004 the initial members (Tokyo Sexwale, Leslie Maasdorp, Nthobi Angel
and the ten regional co-ordinators) of the Batho Bonke consortium beneficially
owned, as principal, all of the issued shares of Main Street 169 (Proprietary)
Limited (`Batho Bonke`). Batho Bonke owns 73 152 300 redeemable preference
shares (voting shares), representing 10% of the enlarged issued share capital of
Absa. Each redeemable preference share confers the right on the registered
holder thereof to subscribe, with effect from the option exercise dates during
the option period, for one Absa ordinary share at the option strike price.
As indicated in the circular to shareholders dated 28 May 2004, Batho Bonke, and
the initial members are obliged to identify the broad-based members of the Batho
Bonke consortium and ensure that the Batho Bonke shares earmarked for these
future members are sold and transferred from the relevant initial members to
such future members, by 30 September 2004.
Absa undertook to publish details on SENS as and when such shares are sold and
transferred to future members. The process is well advanced, and the future
members have been identified. As indicated in the circular to Absa shareholders
dated 28 May 2004, these future members have to be approved by Absa. This
process still has to take place. Once the future members of the Batho Bonke
consortium have been approved by Absa, an announcement in this regard will be
made by no later than the end of October 2004.
Inquiries:
Frans du Toit
Group executive director
5th Floor Absa Towers East
170 Main Street
Johannesburg 2001
Tel: 27(11) 350 4250
Fax: 27(11) 350 5100
Email: fransdt@absa.co.za
Issued by:
Willie Roux
Investor Relations
4th Floor Absa Towers East
170 Main Street
Johannesburg 2001
Tel: 27(11) 350 4061
Fax: 27(11) 350 6487
Email: willier@absa.co.za
ingridl@absa.co.za
4 October 2004
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