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Alviva - general repurchase of shares
The board of directors of Alviva (“the Board”) hereby advises shareholders that Alviva has cumulatively repurchased 5 096 063 ordinary shares in aggregate, representing 3.29% of the Company’s issued share capital (excluding treasury shares), in terms of the general authority granted by shareholders at the annual general meeting (“AGM”) held on 23 November 2017 (“Repurchase”).
Details of the Repurchases are as follows:
- Dates of repurchases: 7 December 2017 to 4 April 2018
- Number of shares repurchased: 5 096 063
- Lowest repurchase price per share (cents): 1 650.00
- Highest repurchase price per share (cents): 2 100.00
- Total value of shares repurchased: R105 172 239
461 494 shares were delisted and cancelled on 19 March 2018 and 4 634 569 will be cancelled and delisted before 30 June 2018.
The repurchases were effected through the order book operated by the JSE Limited and done without any prior understanding or arrangement between the Company and the counter parties.
Alviva will hold 9 905 000 shares as treasury shares, representing 6.58% of the Company’s issued share capital after the cancellations. The repurchase had no effect on the number of treasury shares.
Following the repurchase, the extent of the general authority to repurchase shares outstanding is 25 916 520 ordinary shares, representing 16.71% of the total issued share capital of Alviva, at the time the authority was granted.
Source of funds
The repurchases were funded from the Company’s available cash resources.
Financial information
Cash balances decreased by R105 172 239 as a result of the General Repurchase. The impact on other areas of the Company’s financial information is immaterial.
Compliance
The Repurchase was put in place pursuant to a repurchase programme prior to the commencement of the prohibited period in accordance with the JSE Listings Requirements.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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