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MOR - Morvest Business Group Limited - Close Period Share Repurchase

Release Date: 31/05/2012 16:00
Code(s): MOR
Wrap Text

MOR - Morvest Business Group Limited - Close Period Share Repurchase Programme MORVEST BUSINESS GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration No. 2003/012583/06) Share code: MOR ISIN code: ZAE000152567 ("Morvest" or "the Company") Close Period Share Repurchase Programme Morvest announces that an agreement has been entered into in relation to the purchase of its shares by a subsidiary company during its closed period, which commences on 1 June 2012 and ends on 31 August 2012 when the company`s results are expected to be published. The maximum number of shares to be repurchased during this period is 25 million for an aggregate consideration of R4 500 000. The mandate in the agreement is for an irrevocable, non-discretionary programme to purchase the Company`s shares. Any purchases will be effected within certain pre-set parameters within the limits of the programme, the Listings Requirements of the JSE Limited, the Companies Act and the special resolution passed by Morvest shareholders at the Annual General Meeting held on 22 November 2011. 31 May 2012 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 31/05/2012 16:00:10 Supplied by www.sharenet.co.za 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.

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