Metair - share repurchase programme
Metair shareholders (“Shareholders”) are advised that the Company has established a share repurchase programme in terms of which the Company and / or its subsidiaries may repurchase up to 9 949 294 ordinary shares (“Metair Shares”), being 5% of the Company’s issued share capital, pursuant to and in accordance with the authority granted by shareholders at the Company’s annual general meeting held on Wednesday, 2 May 2018 (“Repurchase Programme”). The total capital allocated by Metair for the Repurchase Programme is R150 million.
The Repurchase Programme will commence on 22 October 2018 and will extend to 15 March 2019.
Metair shares purchased in terms of the Repurchase Programme may not be made at a price greater than 10% above the volume weighted average trading price of Metair Shares over the five trading days immediately preceding any particular repurchase and will be effected through the order book operated by the JSE Ltd., without any prior understanding or arrangement between the Company and / or its subsidiaries and the counterparties.
The Repurchase Programme may be discontinued at any time and the Company and / or its subsidiaries have no obligation to repurchase any amount of Metair Shares under the Repurchase Programme.
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