Absa Bank Limited Updates on Preference Share Repurchase Scheme

Strategic Insights -

Absa Bank Limited has announced updates on the proposed scheme of arrangement to repurchase preference shares. The implementation of the scheme remains subject to the TRP issuing a compliance certificate, which is anticipated to be received during or about the week commencing 30 June 2025. The relevant dates set out in the circular to preference shareholders dated 2 May 2025 have been extended, and a finalisation announcement will be published in due course stipulating the salient dates and times for implementation of the scheme.

Key Takeaways:

  • Absa Bank Limited has announced updates on the proposed scheme of arrangement to repurchase preference shares.
  • The implementation of the scheme remains subject to the TRP issuing a compliance certificate, which is expected during or about the week commencing 30 June 2025.
  • The relevant dates set out in the circular to preference shareholders dated 2 May 2025 have been extended.
  • A finalisation announcement will be published in due course stipulating the salient dates and times for implementation of the scheme.
  • The Independent Board and the Board, individually and collectively, accept full responsibility for the accuracy of the information contained in the announcement.
  • The Independent Board and the Board have made all reasonable enquiries to ascertain that no facts have been omitted, and that the announcement contains all information required by law.
  • The announcement was made on the Stock Exchange News Service ("SENS") on 24 June 2025.

Statistics:

  • 30 June 2025: anticipated week for TRP to issue compliance certificate.
  • 2 May 2025: date of circular to preference shareholders.
  • 24 June 2025: date of announcement on Stock Exchange News Service ("SENS").

Sources:

  • Johannesburg Stock Exchange company announcement, 24 June 2025.
  • Circular to preference shareholders dated 2 May 2025.
  • Firm intention announcement released on the Stock Exchange News Service ("SENS") on 17 April 2025.
  • Results of the Scheme Meeting released on the SENS on 3 June 2025.