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GENERAL REPURCHASE OF SHARES ANNOUNCEMENT
Alviva Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “The Company”)
GENERAL REPURCHASE OF SHARES ANNOUNCEMENT
1. INTRODUCTION
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.
2. 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 Limited 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.
3. OPINION OF THE BOARD
The Board had considered the effect of the Repurchases and was of the opinion that, for a period
of 12 months following the dates of the respective repurchases:
- the Company and the group will be able in the ordinary course of business to pay its
debts;
- the assets of the Company and the group will be in excess of the liabilities of the
company and the group. For this purpose, the assets and liabilities were recognised
and measured in accordance with the accounting policies used in the latest audited
group annual financial statements;
- the share capital and reserves of the Company and the group will be adequate for
ordinary business purposes;
- the working capital of the Company and the group will be adequate for ordinary
business purposes; and
- the Company and the group have passed the solvency and liquidity test and since the
test was performed, there have been no material changes to the financial position of
the group.
4. SOURCE OF FUNDS
The Repurchases were funded from the Company’s available cash resources.
5. 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.
6. COMPLIANCE WITH PARAGRAPH 5.72 OF THE JSE LISTINGS REQUIREMENTS
The Repurchases were put in place pursuant to a repurchase programme prior to the
commencement of the prohibited period in accordance with the JSE Listings Requirements.
Midrand
27 May 2021
Company Secretary: Ms SL Grobler
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 27-05-2021 04:29:00
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