Purchase of Shares by The TWK Customer Loyalty Scheme Trust And The TWK Agri Aandele Aansporings Trust 17-11-2017
|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 of TWK 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 their intention to provide a joint mandate to an independent broker to purchase shares in TWK 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 1,500,000 shares in the open market at the prevailing share price. Share purchases will commence on 02 January 2018 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.
Since the purchase price will be the prevailing market price of the TWK shares and will not exceed the 30 VWAP by more than 15% in any given timeframe, the TWK Board is of the opinion that the intended purchase of shares by the Trusts is fair and reasonable.
Place: Piet Retief
Appointed Adviser: MJ Potgieter (e-mail: email@example.com)