NOVUS HOLDINGS LIMITED - Repurchase of Ordinary Shares

Repurchase of Ordinary Shares

Novus Holdings Limited
(Incorporated in the Republic of South Africa)
JSE share code: NVS
ISIN: ZAE000202149
(“Novus Holdings”, “the Company” or “the Group”)


REPURCHASE OF ORDINARY SHARES


INTRODUCTION

In terms of a general authority granted by Novus Holdings shareholders at the Company’s annual general
meeting held on 17 August 2018, a special resolution was passed to approve the repurchase of its ordinary
shares.

Further to the SENS released on 13 September 2018, shareholders are accordingly advised of the total number
of ordinary shares repurchased during the period which represents 6,5% of the total issued ordinary shares (22
August 2018 to 31 October 2018).

AUTHORISED LIMITS

In terms of the special resolution:

 (a) The general authority is limited to a maximum of 20% of Novus Holdings issued ordinary share capital
     being 69 466 491 shares.
 (b) Any repurchase may not be made at a price greater than 10% above the weighted average of the market
     value of the ordinary shares for the five business days immediately preceding the date of such
     repurchase.
 (c) The repurchase of shares being affected through the order book operated by the Johannesburg Stock
     Exchange trading system and done without any prior understanding or arrangement between Novus
     Holdings and the counter party.

IMPLEMENTATION

Details are as follows:

Total number of ordinary shares repurchased during the period which represents 
6,5% of the total issued ordinary shares (22 August 2018 to 31 October 2018)               22 611 673
Total value of ordinary shares repurchased                                            R101 032 370,71
Highest price paid per ordinary share                                                         R4,8000
Lowest price paid per ordinary share                                                          R4,1000
Average price paid per ordinary share including costs                                         R4,4682
The number of ordinary shares which may still be purchased
by Novus Holdings in terms of the general authority                                        46 854 818
The percentage of ordinary shares which may still be repurchased
by Novus Holdings in terms of the general authority                                             13,5%
Ordinary shares in issue on 31 March 2018, the date of Novus Holdings
most recent published financial year end results                                          347 332 454
Ordinary shares in issue on 10 November 2017, the date of Novus Holdings
most recent published half year end results                                               347 332 454
Treasury shares held after the repurchase                                                  50 398 270

SOURCE OF FUNDS

The repurchases to date have been funded from available cash resources and it is intended that all future
purchases will also be funded from available cash resources.

OPINION OF THE DIRECTORS

The Directors of Novus Holdings have considered the impact of the share repurchase and are of the opinion
that:

    - Novus Holdings and its subsidiaries will be able, in the ordinary course of business, to repay its debts
      for a period of 12 months from date of this announcement.
    - The assets of Novus Holdings and its subsidiaries are in excess of the liabilities, measured in accordance
      with the accounting policies used in the audited results for the year ended 31 March 2018.
    - The ordinary share capital and reserves of Novus Holdings and its subsidiaries will be adequate for a
      period of 12 months from the date of this announcement.
    - The working capital of Novus Holdings and its subsidiaries will be adequate for a period of 12 months
      from the date of this announcement.

FINANCIAL INFORMATION

Novus Holdings cash balance decreased by R101 634 942,32 as a result of the repurchase and costs related
thereto. The repurchased shares are being held as treasury shares, of which 24 313 272 shares are held in the
share trust.

For and on behalf of the Board.

Cape Town
01 November 2018

Sponsor: Investec Bank Limited

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