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09/03/2012 : 12:57:01
ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend
ABSP
Posted Fri, 09 Mar 2012

JSE ABSP ABSAB ABSP - ABSA Bank Limited - ABSA Bank Limited: The increase in the dividend tax and its effect on ABSA Bank Limited non-cumulative non-redeemable Preference Shares ABSA BANK LIMITED Registration number: 1986/004794/06 Authorised financial services and registered credit provider (NCRCP7) Incorporated in the Republic of South Africa ISIN: ZAE000079810 JSE share code: ABSP (Absa Bank) ABSA BANK LIMITED: THE INCREASE IN THE DIVIDEND TAX AND ITS EFFECT ON ABSA BANK LIMITED NON-CUMULATIVE NON-REDEEMABLE PREFERENCE SHARES Holders of Absa Bank non-cumulative non-redeemable preference shares (ABSP Preference Shares) are referred to our SENS announcement of 6 February 2012 dealing with dividends payable in respect of the ABSP Preference Shares being adjusted (grossed up) and the 2012 Budget Speech presented by the Minister of Finance on 22 February 2012, during which it was announced that dividend tax is to be levied at a rate of 15%. As stated in our 6 February 2012 SENS announcement, "the gross-up will be limited to the introduction of the dividend tax in its current form and does not extend to any future amendments thereto". The "current form" of the dividend tax at the time of the 6 February 2012 SENS announcement was 10%. Absa will maintain this position and accordingly symbol "B" in the formula referred to under "Entitlements to dividends" in the pre-listing statement will be increased from 63% to 70% as stated in our SENS announcement of 6 February 2012, subject to approval by holders of ABSP Preference Shares at the general meeting on Wednesday, 14 March 2012. Johannesburg 9 March 2012 Sponsor: J.P. Morgan Equities Limited Enquiries: Alan Hartdegen (Head of Investor Relations) Telephone: (+27 11) 350 5926 Telefax: (+27 11) 350 5924 E-mail: Investorrelations@absa.co.za Date: 09/03/2012 12:57:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.


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