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TRU - Partial Cancellation and Delisting of Company Shares

Release Date: 21/02/2007 09:57
Code(s): TRU
Wrap Text

TRU - Partial Cancellation and Delisting of Company Shares TRUWORTHS INTERNATIONAL LIMITED (Incorporated in the Republic of South Africa) (Registration number 1944/017491/06) JSE Code: TRU NSX Code: TRW ISIN: ZAE000028296 ("the Company") PARTIAL CANCELLATION AND DELISTING OF COMPANY SHARES The board of the Company advises that on 20 February 2007, the Company cancelled and applied for the de-listing of 36 214 812 of its issued ordinary shares. These shares had been purchased from a subsidiary company on that date in terms of the general authority granted by special resolution of the shareholders taken at the annual general meeting held on 9 November 2006. The purposes of the share purchase and cancellation are to restructure the group`s balance sheet and enable the group to continue its treasury share repurchase programme, which has had added significant shareholder value over the past three years in terms of enhancing earnings and net asset value per share. The shares had been acquired by the subsidiary company during the 2002, 2003 and 2004 financial years, in accordance with the Company`s general share repurchase programme. The cancellation of the shares has no financial impact on the Company or the group, save for the incurral of non-material transaction costs. The shares cancelled represented 7.47% of the issued shares of the Company prior to the cancellation, and following the cancellation the number of shares in issue comprises 448 286 569 ordinary shares of 0.015 cent each. By order of the board Chris Durham Company Secretary Cape Town 21 February 2007 Lead Sponsor Barnard Jacobs Mellet Corporate Finance (Pty) Ltd Date: 21/02/2007 09:57:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.

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