Absa Group Limited - Renewal Of Cautionary Announcement
Absa Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/003934/06)
(JSE Code: ASA)(Issuer Code: AMAGB)
(ISIN : ZAE 000013389)
(`Absa`)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the various cautionary announcements released on
SENS regarding the discussions of the possible acquisition of a majority stake
in Absa by Barclays Bank PLC (`Barclays`).
Shareholders are advised that agreement has not yet been reached on any offer
being made by Barclays to acquire a majority stake in Absa, however discussions
with Barclays are continuing. In respect of the application in terms of the
Banks Act, shareholders are referred to a media statement released by the
National Treasury in which it was confirmed that the Minister of Finance hosted
a meeting with Absa and Barclays on 3 April 2005. The meeting was exploratory
and the outcome non-binding in nature. The discussions included an evaluation of
conditions under which such an acquisition may be permitted, taking into account
the requirements of the Banks Act, ongoing maintenance of the soundness of the
South African financial system and prevailing policy objectives. The parties
regard these discussions as having afforded an opportunity, without prejudice to
the position of Barclays or that of the regulatory authority, to assist the
respective boards of Barclays and Absa to give further consideration to the
matter. No decision regarding regulatory approval will be made until such time
as Absa and Barclays have reverted to the Minister on these matters.
Shareholders are advised to continue exercising caution when dealing in Absa
securities until a further announcement is made.
JOHANNESBURG
4 April 2005
Financial advisers
Goldman Sachs Merrill Lynch Absa Corporate &
Merchant Bank
Legal advisers International legal
Webber Wentzel Bowens advisers
Linklaters
Lead sponsor Co-sponsor
Merrill Lynch Absa Corporate
Merchant Bank
Date: 04/04/2005 08:06:25 AM
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