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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 held on 18 November 2020, Alviva has cumulatively repurchased 3,732,492 ordinary
shares in aggregate, representing 3.02% of the Company’s issued shares (excluding the 6 384
955 shares repurchased on 13 November 2020, as per the SENS announcement dated 16
November 2020, and the Forfeitable Share Plan (“FSP”) shares) (“Repurchase(s)”).
2. DETAILS OF THE REPURCHASES
Date of Repurchases: 19 November 2020
Number of shares repurchased: 3,732,492
Lowest repurchase price per share (cents): 780
Highest repurchase price per share (cents): 800
Total value of Repurchases: R29 165 319.24
Following the repurchases the Company will hold a total of 10,117,447 shares, including the
above 3,732,492 shares, all of which will be cancelled and delisted before 30 November 2020.
The Company holds 6,415,000 FSP shares as Treasury Shares, both before and after the above
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 20,971,066 ordinary shares, representing 16.98% of the total issued shares of Alviva,
at the time the authority was granted.
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 decrease by R29 165 319.24 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 took place outside of any closed period.
Midrand
23 November 2020
Company Secretary: Ms SL Grobler
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 23-11-2020 08:30:00
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