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Absa Group Limited (JSE:ABG) News - 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) – Long-Term Performance Award (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 2021) measured
over a three-year performance period. Award will vest on 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 1 April 2022). 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 01 April 2022 19 April 2022 Performance Award 94,528 179.84 16,999,916
Jason Quinn 01 April 2022 19 April 2022 Performance Award 69,506 179.84 12,499.959
Punki Modise** 01 April 2022 19 April 2022 Performance Award 55,604 179.84 9,999,823
Charles Russon 01 April 2022 19 April 2022 Performance Award 55,604 179.84 9,999,823
Nadine Drutman 01 April 2022 19 April 2022 Performance Award 19,094 179.84 3,433,865
Notes:
* The value and number of shares will vest, subject to the extent that the performance targets have been met.
** Punki Modise was an Executive Director for the period 23 April 2021 to 29 March 2022. She is a prescribed officer from
29 March 2022.
2. Absa Group Share Incentive Plan - Deferred Award
The number of shares under the Deferred Awards (in respect of short-term incentives paid for the 2021
financial year’s performance, and as already set out in the Group’s 2021 Remuneration Report) was fixed
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with reference to the 20-day volume-weighted average price preceding 1 April 2022 (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 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 01 April 2022 19 April 2022 Deferred Award 31,972 179.84 5,749,844
Jason Quinn 01 April 2022 19 April 2022 Deferred Award 44,483 179.84 7,999,823
Punki Modise* 01 April 2022 19 April 2022 Deferred Award 25,022 179.84 4,499,956
Charles Russon 01 April 2022 19 April 2022 Deferred Award 31,972 179.84 5,749,844
Nadine Drutman 01 April 2022 19 April 2022 Deferred Award 5,560 179.84 999,910
Note:
* Punki Modise was an Executive Director for the period 23 April 2021 to 29 March 2022. She is a prescribed officer from
29 March 2022.
Clearance to deal has been obtained for the above-mentioned transactions and all transactions were
executed off market.
Johannesburg
21 April 2022
Enquiries:
Alan Hartdegen – Head of Investor Relations
(+27 72) 576-2713
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)
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Date: 21-04-2022 04:27:00
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