ZXTWI-Purchase of Shares by The TWK Customer Loyalty Scheme Trust And The TWK Agri Aandele Aansporings Trust
|Name of Issuer||TWK Investments Limited|
|Country of Incorporation||ZA|
Intended purchase of shares by the TWK Customer Loyalty Scheme Trust and the TWK Agri Aandele Aansporings Trust
Shareholders are hereby advised that the trustees of the TWK Customer Loyalty Scheme Trust and the TWK Agri Aandele Aansporings Trust have notified the company of its intention to provide a mandate to an independent broker to purchase shares in TWK Investments Ltd. on their behalf.
The reason for the intended purchase is to ensure the future availability of sufficient shares to be awarded to TWK clients in terms of the TWK Customer Loyalty Scheme and to TWK staff in terms of the TWK Long Term Staff Incentive Option Scheme.
The trustees have indicated their intention to jointly purchase up to 1,100,000 (One million and one hundred thousand) shares in the open market at prevailing share prices from time to time. Share purchases will commence on 07 January 2019 and will continue until the respective Trusts have acquired the intended number of shares, or until the trustees terminate the mandate provided to the broker.
The TWK Board is of the opinion that the intended purchase of shares by the Trusts is fair and reasonable.
MJ Potgieter (e-mail: email@example.com)
Place: Piet Retief