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Absa Group Limited (JSE:ABG) News - Results f Absa Group Remuneration Implementation Report Shareholder Engagement
Absa Group Limited
Registration number: 1986/003934/06
Incorporated in the Republic of South Africa
JSE share code: ABG
ISIN: ZAE000255915
Bond Issuer Code: ABGI
(“Absa Group”, “Group” or “Company”)
RESULTS OF ABSA GROUP REMUNERATION IMPLEMENTATION REPORT SHAREHOLDER ENGAGEMENT
Following the Absa Group annual general meeting held on Friday, 3 June 2022, as a result of there being more than
25% of the votes exercised against the non-binding advisory vote number 2 (the remuneration implementation report),
shareholders representing approximately 7% of issued Absa Group ordinary shares attended a Microsoft Teams call
with our Group Chairman, Sello Moloko, and the Chairman of our Group Remuneration Committee, Rose Keanly, on
Thursday, 30 June 2022.
Shareholders raised comments relating to the determination of the short-term incentive pool, normalised headline
earnings as a metric, and the settlement arrangements with the previous Chief Executive Officer. These matters will
be reported on in the Group’s next integrated report, in accordance with King IV.
The Group Chairman thanked shareholders for taking the time to engage with the Group.
Johannesburg
1 July 2022
Enquiries:
Nadine Drutman (Group Company Secretary)
Nadine.Drutman@absa.africa
Sponsors:
Lead independent sponsor
J. P. Morgan Equities South Africa Proprietary Limited
Joint sponsor
Absa Bank Limited (Corporate and Investment Bank)
Date: 01-07-2022 10:00:00
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