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4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Barclays Africa Group Ltd    ASAJ   ZAE000174124

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Absa Group Limited : Non-executive director changes to Absa boards of directors

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02/25/2013 | 11:28am CEST
ABSA GROUP LIMITED ABSA BANK LIMITED (Incorporated in the (Incorporated in the Republic of South Africa) Republic of South Africa) (Registration number: (Registration number:

1986/003934/06) 1986/004794/06)
ISIN: ZAE000067237 ISIN: ZAE000079810
JSE share code: ASA JSE share code: ABSP Issuer code: AMAGB (Absa Bank)
(Absa Group, Absa or the Group)

NON-EXECUTIVE DIRECTOR CHANGES TO ABSA BOARDS OF DIRECTORS

Shareholders are informed that Antony Jenkins has resigned from the Boards of Absa Group and Absa Bank as Barclays Bank PLC ("Barclays") representative, effective 28 February 2013.
Antony, who joined the Absa Boards on 23 March 2009, was appointed as Group Chief Executive of Barclays PLC on 30 August
2012.
Absa Group Chairman, Garth Griffin, said: "We extend our sincere gratitude to Antony for his contribution to the Boards of Absa Group and Absa Bank, as well as to the Board committees on which he served. His expertise will be sorely missed, but we very much look forward to Antony's leadership as Chief Executive of Barclays."
Shareholders are also informed that Patrick Clackson and Ashok Vaswani are joining the Absa Boards, as Barclays representatives, with effect from 1 March 2013.
Patrick replaces Ivan Ritossa, who stood down from the Boards on
31 December 2012, and Ashok replaces Antony Jenkins.
Patrick is the Chief Executive of Barclays Corporate and Investment Banking in Europe, the Middle East and Africa. He joined Barclays Investment Bank in December 1998. He was previously the Chief Financial Officer for Sumitomo Bank's London and Asian investment banking activities and, before that, a senior manager at PricewaterhouseCoopers.
Ashok is the Chief Executive of Barclays Retail and Business Banking. He joined Barclays in 2010 and was the Chief Executive of the Barclays Africa businesses from October 2010 to September
2011. Before joining Barclays, he was a partner at Brysam Global
Partners LLC, a New York-based private equity firm focused on
building retail financial service businesses in emerging markets, and also spent twenty years in a number of senior roles at Citigroup.
In accordance with Absa Group's Memorandum of Incorporation, shareholders will be requested to confirm the appointment of Patrick and Ashok at the Group's annual general meeting, to be held on Thursday, 2 May 2013.
Johannesburg
21 February 2013

Enquiries

Alan Hartdegen
Head of Investor Relations, Absa Group
+27 (0) 11 350 2598
E-mail: [email protected]

Lead Sponsor:

J.P. Morgan Equities South Africa Proprietary Limited

Joint Sponsor:

Absa Corporate and Investment Banking, a division of Absa Bank

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Financials ( ZAR)
Sales 2017 75 908 M
EBIT 2017 27 170 M
Net income 2017 15 567 M
Debt 2017 -
Yield 2017 7,22%
P/E ratio 2017 7,87
P/E ratio 2018 7,18
Capi. / Sales 2017 1,61x
Capi. / Sales 2018 1,50x
Capitalization 122 390 M
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Mean consensus HOLD
Number of Analysts 11
Average target price 166  ZAR
Spread / Average Target 15%
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Managers
NameTitle
Maria Ramos Group Chief Executive Officer & Executive Director
Wendy Elizabeth Lucas-Bull Non-Executive Chairman
Charles Russon Chief Operating Officer
Jason P. Quinn Finance Director
Trevor Stewart Munday Lead Independent Non-Executive Director
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