Results and Completion of the Senwes Share Repurchase Programme 2017
|Name of Issuer||Senwes Limited|
|Country of Incorporation||ZA|
Results and Completion of the Senwes Share Repurchase Programme 2017 (“the Repurchase Programme”)
Senwes hereby notifies shareholders of the results of the repurchase programme launched on 30 June 2017 in terms of the general authority granted by shareholders on 26 August 2016 and 24 August 2017. The duration of the programme was determined by the repurchase consideration of R45 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 R12.21. The number of Senwes Shares repurchased is 3 611 286 at a total value of R44 102 762.00 (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
Company Secretary/Appointed Adviser:
E M JOYNT (Mrs)