ABSA GROUP LIMITED - Dealings by directors. prescribed officers and company secretary of Absa Group

Dealings by directors. prescribed officers and company secretary of Absa Group

ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number: 1986/003934/06
ISIN: ZAE000255915
JSE share code: ABG
Bond Issuer Code: ABGI
("Absa Group" or "the Group")


  DEALINGS BY DIRECTORS, PRESCRIBED OFFICERS AND COMPANY SECRETARY OF ABSA
  GROUP

  In accordance with paragraph 3.63 of the JSE Limited Listings Requirements, shareholders are advised
  that the following ordinary shares have been awarded to executive directors, prescribed officers, and the
  company secretary of Absa Group:

  1.     Absa Group Share Incentive Plan (SIP) – Share Incentive Plan Performance Award/s

  The Share Incentive Plan ("SIP") Long-Term Performance Award is designed to incentivise long-term
  performance with vesting of awards, subject to fulfilment of a combination of financial and non-financial
  Absa Group performance targets (as disclosed in the Group's Remuneration Report for 2023) measured
  over a three-year performance period. Award will vest on or around the third anniversary of the grant date,
  subject to the achievement of the performance targets, and continued employment requirements, as set
  out in the SIP rules. Dividend equivalents may be added to the Awards at the vesting of an Award in terms
  of the Share Incentive Plan Rules and will be paid to the extent that the shares vest.

  The number of shares under the Award was fixed with reference to the 20-day volume-weighted average
  price preceding the grant date (being 2 April 2024). The Awards were granted as set out in the table below,
  and have since been accepted on the date indicated below.

                                                                             Number of                        On Target value at
                                                                                              Price of
                                       Acceptance                              Shares                         award date (ZAR),
       Officer        Grant Date                           Award Type                        Shares at
                                          Date                                Awarded                       subject to performance
                                                                                            Grant (ZAR)
                                                                               (*note)                          targets (*note)
Arrie Rautenbach      2 April 2024    17 April 2024       Performance         110 046          154.48            16 999 906.08
                                                             Award
Chris Snyman          2 April 2024    17 April 2024       Performance          32 366          154.48               4 999 899.68
                                                             Award
Charles Russon        2 April 2024    17 April 2024       Performance          77 679          154.48               11 999 851.92
                                                             Award
Faisal Mkhize         2 April 2024    17 April 2024       Performance          48 549          154.48               7 499 849.52
                                                             Award
Cowyk Fox             2 April 2024    17 April 2024       Performance          29 129          154.48               4 499 847.92
                                                             Award
Geoffrey Lee          2 April 2024    17 April 2024       Performance          61 496          154.48               9 499 902.08
                                                             Award
Nadine Drutman        2 April 2024    17 April 2024       Performance          24 598          154.48               3 799 899.04
                                                             Award

    Note:
    * The value and number of shares will vest, subject to the extent that the performance targets have been met.

                                                                                                                       
  2.      Absa Group Share Incentive Plan (SIP) - Deferred Awards

  The number of shares under the Deferred Awards (in respect of short-term incentives paid for the 2023
  financial year's performance, and as already set out in the Group's 2023 Remuneration Report) was fixed
  with reference to the 20-day volume-weighted average price preceding 2 April 2024 (the grant date). The
  table below sets out the deferred short-term incentives which were awarded under the Deferred Award and
  granted to the executive directors, prescribed officers and company secretary. Deferred Awards will vest
  in three equal tranches, on or around the first, second and third anniversary of the grant date subject to the
  rules of the SIP (as amended from time to time). Dividend equivalents may be added to the Deferred
  Awards at the vesting of a Deferred Award tranche. The Deferred Award is subject to continued
  employment at date of vesting.

  These Deferred Awards have since been accepted on the date indicated below.

                                                                   Number of
                                  Acceptance                                   Price of Shares    Value at Award
       Officer      Grant Date                     Award Type        Shares
                                     Date                                      at Grant (ZAR)       Date (ZAR)
                                                                    Awarded
Arrie Rautenbach   2 April 2024   17 April 2024   Deferred Award    37 545          154.48         5 799 951.60

Chris Snyman       2 April 2024   17 April 2024   Deferred Award    10 519          154.48         1 624 975.12

Charles Russon     2 April 2024   17 April 2024   Deferred Award    38 839          154.48         5 999 848.72

Faisal Mkhize      2 April 2024   17 April 2024   Deferred Award    12 137          154.48         1 874 923.76

Cowyk Fox          2 April 2024   17 April 2024   Deferred Award     9 813          154.48         1 515 912.24

Geoffrey Lee       2 April 2024   17 April 2024   Deferred Award    13 848          154.48         2 139 239.04

Nadine Drutman     2 April 2024   17 April 2024   Deferred Award     5 825          154.48          899 846.00


  Clearance to deal has been obtained for the above-mentioned transactions and all transactions were
  executed off market.

Johannesburg
19 April 2024

Enquiries:
Alan Hartdegen – Head of Investor Relations
E-mail: alan.hartdegen@absa.africa

Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Joint Sponsor:
Absa Bank Limited (Corporate & Investment Bank)




                                                                                                   

Date: 19-04-2024 10:35:00
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