To view the PDF file, sign up for a MySharenet subscription.

MPACT LIMITED - General Repurchase of Shares

Release Date: 20/10/2020 08:10
Code(s): MPT     PDF:  
Wrap Text
General Repurchase of Shares

Mpact Limited

(Incorporated in the Republic of South Africa)

(Registration number 2004/025229/06)

JSE share code: MPT ISIN: ZAE000156501

(“Mpact” or “the Company”)


GENERAL REPURCHASE OF SHARES

1.       DETAILS OF THE REPURCHASE
         In terms of paragraph 5.79 and 11.27 of the Listings Requirements of the JSE Limited (“JSE”), shareholders
         are advised that the Company has purchased 8 665 225 of its own ordinary shares (“Repurchased
         Shares”), representing 5% of the Company’s issued share capital in terms of the general authority granted
         by shareholders at the Company’s annual general meeting held on 4 June 2020 (the “General
         Repurchase”). There are no further shares outstanding under the authority granted by shareholders.



         The General Repurchase was effected through the order book operated by the JSE trading system without
         any prior understanding or arrangement between Mpact and the counter parties. No shares were
         repurchased during any prohibited period. The General Repurchase was funded from available cash
         resources.

         Dates of General Repurchase:                                        Between 28 September 2020 and 19
                                                                             October 2020
         Average price paid per share:                                       R8.4708
         Lowest price paid per share:                                        R8.1099
         Highest price paid per share:                                       R8.6499
         Number of shares repurchased:                                       8 665 225
         Total value of Shares repurchased:                                  R73,401,201


         There has been no change to the number of treasury shares of the Company following the General
         Repurchase.


         The Company will be applying to the JSE for the cancellation and delisting of the Repurchased Shares at
         a date as approved by the JSE which is expected to be on or about 23 October 2020.

2.       STATEMENT BY THE DIRECTORS
         The board of directors of Mpact confirm that, after considering the effect of the General Repurchase, for a
         period of 12 months after the date of the General Repurchase:

     -    The Company and its subsidiaries will be able to pay its debts in the ordinary course of business.
     -    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 annual Group 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.

     -    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.

3.       IMPACT OF THE GENERAL REPURCHASE ON THE FINANCIAL INFORMATION OF THE COMPANY
         The Company’s cash balances decreased by R73,627,793 as a result of the General Repurchase.


Melrose Arch
20 October 2020


Sponsor: The Standard Bank of South Africa Limited

Date: 20-10-2020 08:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.