ALVIVA HOLDINGS LIMITED - General Repurchase Of Shares Announcement

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 Alviva has
      cumulatively repurchased 8,375,264 ordinary shares in aggregate, representing 6.37% of the
      Company’s issued shares (excluding Forfeitable Share Plan (“FSP”) shares), in terms of the
      general authority granted by shareholders through a special resolution, at the annual general
      meeting held on 21 November 2019 (“Repurchase(s)”).

2.    DETAILS OF THE REPURCHASES

      The Repurchases were approved by the Board under two separate board resolutions the details
      of which are as follows:

      Resolution 1
      Dates of Repurchases:                           2 December 2019 to 24 March 2020
      Number of shares repurchased:                   1,990,309
      Lowest repurchase price per share (cents):      390
      Highest repurchase price per share (cents):     1 446
      Total value of shares repurchased:              R19,185,525.97

      1,990,309 shares were cancelled and delisted
       on or around 15 April 2020

      Resolution 2
      Date of Repurchase                              13 November 2020
      Number of shares repurchased                    6,384,955
      Lowest repurchase price per share (cents):      708
      Highest repurchase price per share (cents):     709
      Total value of shares repurchased               R45,237,406.18

      6,384,955 shares will be cancelled and delisted before 30 November 2020.

      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.

      Alviva holds 7,180,750 shares as FSP shares, representing 5.53% of the Company’s issued
      shares before and after the cancellation. The Repurchases had no effect on the number of FSP
      shares.

      Following the Repurchases, the extent of the balance of the general authority to repurchase
      shares is 17,907,627 ordinary shares, representing 13.63% 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 R64,422,932.15 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
16 November 2020


Company Secretary: Ms SL Grobler
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 16-11-2020 04:14:00
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