Share Repurchase Programme
|Name of Issuer||Senwes Limited|
|Country of Incorporation||ZA|
RESULTS AND COMPLETION OF THE SENWES SHARE REPURCHASE PROGRAMME 2019/2020 (“the Repurchase Programme”)
Senwes hereby notifies shareholders of the results of the repurchase programme launched on 3 July 2019 in terms of the general authority granted by shareholders on respectively 22 August 2018 and 22 August 2019. The duration of the programme was determined by the repurchase consideration of R54 million being expended, or 2% (two percent) of the ordinary issued Senwes shares (“Senwes Shares”) having been repurchased, whichever event occurred first.
An independent broking firm was mandated to effect the repurchase of the Senwes Shares through ZAR X via a subsidiary of Senwes. The Repurchase Programme has been implemented according to its terms and 2% (two percent) of Senwes shares were repurchased at an average market price of R11.93. The number of Senwes Shares repurchased is 4 230 470 at a total value of R51,4 million (excluding costs).
The Repurchase Programme has thus been completed and the Senwes Shares will be held as treasury stock in accordance with section 48 (2)(b) of the Companies Act, 2008.
By order of the Board of Directors.
Date: 26-03-2020 Place: Klerksdorp
Company Secretary: EM JOYNT (e-mail: Elmarie.firstname.lastname@example.org)
Notifications Officer: CLAUDI SMIT (e-mail:Claudi.email@example.com)