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JSE
ABSP
Absa Bank - Preference Shares Announcement
Absa Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/004794/06)
JSE code: ABSP ISIN: ZAE000079810
("Absa Bank")
RESULTS OF PRIVATE PLACEMENT OF 3 000 000 NON-CUMULATIVE, NON-REDEEMABLE
PREFERENCE SHARES IN ABSA BANK AT A SUBSCRIPTION PRICE OF R1 000,00 EACH AND
COMMENCEMENT OF LISTING OF THE ABSA BANK PREFERENCE SHARES
Shareholders are referred to the announcement in the press and on SENS on
18 April 2006 containing the abridged pre-listing statement of Absa Bank for
the purposes of providing information on the non-cumulative, non-redeemable
preference shares in Absa Bank ("Absa Bank preference shares") and on Absa Bank
in terms of the Listings Requirements of the JSE Limited ("JSE").
By way of an auction process, 3 000 000 Absa Bank preference shares have been
allocated to selected financial institutions and other investors, thereby
raising R3 billion. The total amount of applications was in excess of R10,1
billion, making the issue 3,37 times oversubscribed. Absa Bank preference shares
have been allocated at a coupon rate of 63% of the prime overdraft lending rate
of Absa Bank.
The JSE has agreed that the Absa Bank preference shares will be listed on the
JSE from the commencement of business on Tuesday, 25 April 2006 in the
"Preference Shares - Preference Shares" sector under the abbreviated name "Absa
Bank - P" (share code: ABSP and ISIN: ZAE000079810).
Absa Bank preference shares will be issued to subscribers who applied for
dematerialised shares on Tuesday, 25 April 2006 against receipt of payment from
their CSDP or broker.
Johannesburg
24 April 2006
Legal adviser
Webber Wentzel Bowens
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
Arranger, investment bank and co-sponsor
ABSA
Corporate and Merchant Bank
Corporate Finance
ABSA Bank Limited
(Registration number 1986/004794/06)
Date: 24/04/2006 05:15:35 PM Produced by the JSE SENS Department
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