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Alviva - general repurchase of shares
The board of directors of Alviva (“the Board”) hereby advises shareholders that, in terms of the general authority granted by shareholders through a special resolution at the annual general meeting (“AGM”) held on 18 November 2020, the Company has repurchased 3,679,996 ordinary shares, representing 2.98% of the Company’s issued ordinary shares (excluding treasury shares and the Forfeitable Share Plan (“FSP”) shares) at the time the authority was granted (“Initial number”) (“Repurchases”).
This brings the cumulative number of shares repurchased since the AGM to 7 412 488 ordinary shares, representing 6.00% of the Initial number of shares.
Details of the Repurchases
Date of Repurchases: 4 December 2020 to 25 May 2021
Number of shares repurchased: 3 679 996
Lowest repurchase price per share (cents): 922
Highest repurchase price per share (cents): 1 270
Total value of Repurchases: R40 009 280.13
2 178 388 Shares were cancelled and delisted on 8 March 2021 and the remaining 1 501 608 shares will be cancelled and delisted before 15 June 2021.
The Company holds 6 415 000 FSP shares as Treasury Shares, both before and after the repurchases.
The repurchases were effected through the order book operated by the JSE Ltd. and done without any prior understanding or arrangement between the Company and the counterparties.
Following the Repurchases, the extent of the balance of the general authority to repurchase shares is 17 291 070 ordinary shares, representing 14.00% of the Initial number of shares.
Source of funds
The Repurchases were funded from the Company’s available cash resources.
Financial information
Cash balances and issued share capital decreased by R40 009 280.13 as a result of the Repurchases. The impact on other areas of the Company’s financial information is immaterial.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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