BCK - Blackstar Group SE - Blackstar Group SE announcement of share buy-back

BCK - Blackstar Group SE - Blackstar Group SE announcement of share buy-back    
programme                                                                       
Blackstar Group SE                                                              
Previously Blackstar Group PLC                                                  
(Incorporated in England and Wales)                                             
(Company number SE 30)                                                          
(registered as an external company with limited liability in the Republic of    
South Africa under registration number 2011/008274/10)                          
Share code: BCK                                                                 
ISIN: GB00B0W3NL87                                                              
("Blackstar")                                                                   
BLACKSTAR GROUP SE                                                              
ANNOUNCEMENT OF SHARE BUY-BACK PROGRAMME                                        
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO        
U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN        
20 December 2011                                                                
Further to today`s joint announcement relating to the withdrawal of             
Blackstar Group SE`s ("Blackstar" or the "Company") offer to acquire the        
entire issued share capital of Mvelaphanda Group Limited by way of a scheme     
of arrangement, the Company would like to reiterate that, while it is           
naturally disappointing not to be proceeding with the proposed acquisition,     
Blackstar`s management is committed to seeking new opportunities that will      
continue to enhance value for Blackstar shareholders.                           
Blackstar would like to announce the launch of a share buy-back programme       
(the "Programme") with the objective of reducing the discount to NAV at         
which the Company`s shares currently trade. The Programme will commence with    
effect from today and will be conducted in accordance with the authorisation    
granted to the Company by shareholders at the AGM held on 22 June 2011.         
Blackstar has appointed Liberum Capital Limited ("Liberum") to manage the       
Programme and has authorised Liberum to effect on-market purchases of           
ordinary shares of 0.76 Euro (the "Shares") on behalf of the Company on the     
AIM Market of the London Stock Exchange plc (the "Exchange").                   
Pursuant to and during the term of the Programme, Liberum may independently     
of, and without influence by Blackstar, purchase Shares from time to time at    
its absolute discretion provided that:                                          
1.)  the maximum price payable for a Share on the Exchange is 105 per       
         cent. of the average market value of the Company`s Shares for the      
         five business days immediately preceding the day on which such         
         share is contracted to be purchased; and                               
2.)  the aggregate number of Shares which may be acquired on behalf of      
         the Company in connection with the Programme shall not exceed          
         11,215,696, which at the time of the AGM held on 22 June 2011          
         represented 14.99% of the Company`s issued Shares and which            
currently represents 13.15% of the Company`s issued Shares.            
Due to the limited liquidity in the Shares, a buy-back of Shares pursuant to    
the Programme on any trading day is likely to represent a significant           
proportion of the daily trading volume in the Shares on the Exchange.           
Blackstar will announce any market repurchase of Shares no later than 7.30      
a.m. on the business day following the calendar day on which the repurchase     
occurred. Shares bought back under the Programme are expected to be held in     
treasury for a short time until they are cancelled in accordance with           
applicable law.                                                                 
-ENDS-                                                                          
For further information:                                                        
Blackstar Group SE                                                              
John Kleynhans                                                                  
Tel: +352 402 505 427                                                           
Liberum Capital Limited                                                         
Paul Rostas / James Bouverat                                                    
Chris Bowman / Christopher Britton                                              
Tel : +44(0)20 3100 2251                                                        
Date: 20/12/2011 09:51:01 Supplied by www.sharenet.co.za                     
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