QUANTUM FOODS HOLDINGS LIMITED - General Repurchase Of Ordinary Shares

General Repurchase Of Ordinary Shares

QUANTUM FOODS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2013/208598/06
Share Code: QFH
ISIN Number: ZAE000193686
("Quantum Foods" or “the Company” or “the Group”)

GENERAL REPURCHASE OF ORDINARY SHARES

At the annual general meeting of Quantum Foods held on
24 February 2017 (“AGM”), shareholders approved, by way of a
special resolution, the repurchase of ordinary shares of the
Company, on the terms and conditions set out under the relevant
special resolution in the notice of AGM. In terms of such special
resolution, shareholders granted a general authority to the
board of directors of Quantum Foods (“Board”) to repurchase up
to 20% of the issued ordinary share capital of Quantum Foods.

Shareholders are hereby advised that, during the period
commencing on 20 March 2017 to 15 September 2017, Quantum Foods
has repurchased an aggregate of 6 914 494 ordinary shares,
representing 3% of the issued ordinary share capital of Quantum
Foods as at the date on which the authority to repurchase the
ordinary shares was granted. The aforementioned ordinary shares
were repurchased for an aggregate value of R21 093 920, funded
out of the Company’s available cash resources.

  Date of      Aggregate    Highest      Lowest       Aggregate
repurchases    number of    price per    price per    value
               ordinary     ordinary     ordinary
               shares       share        share
               repurchased  repurchased  repurchased
20 March       6 914 494     R3.30       R2.70        R21 093 920
2017 to 15
September
2017

The repurchases were made in terms of the general authority
granted by shareholders at the AGM, and were effected through
the order book operated by the JSE trading system without any
prior understanding or arrangement between the Company and the
counterparties. The requirements for the general repurchase of
ordinary shares in terms of paragraph 5.72(a) of the JSE Listings
Requirements, have been complied with.

Quantum Foods may repurchase a further 39 182 130 ordinary shares
(17% of the ordinary shares in issue as at the date on which the
authority was granted), in terms of the current general
authority, which is valid until Quantum Foods’ next annual
general meeting.

The impact of the repurchase of the ordinary shares on the
financial position of the Company is immaterial, as the
repurchases were funded out of the Company’s available cash
resources.

Opinion of the Board

The Board has considered the effect of the repurchases and is
of the opinion that, for a period of 12 months following the
date of this announcement:

-   the Company and the Group will be able, in the ordinary
    course of business, to repay their debts;
-   the consolidated assets of the Company and the Group will
    be in excess of the consolidated liabilities of the Company
    and the Group;
-   the Company’s and the Group’s share capital and reserves
    will be adequate for the purposes of the business of the
    Company and the Group; and
-   the Company and the Group will have sufficient working
    capital for ordinary business purposes.

Wellington
18 September 2017

Sponsor
PSG Capital

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