THE FOSCHINI GROUP LIMITED - Repurchase of ordinary shares on the open market

Repurchase of ordinary shares on the open market

THE FOSCHINI GROUP LIMITED
Reg. No.: 1937/009504/06
Code: TFG
ISIN: ZAE000148466
("TFG" or the "company")

Repurchase of ordinary shares on the open market

1.   Introduction
Further to the announcement made on 18 September 2007,
shareholders are advised that TFG has purchased an additional
6 755 937 ordinary shares, representing 3,0% of its own shares,
at a cost of R634 327 649, on the open market, utilising the
general authorities granted by TFG shareholders at various
annual general meetings, the latest of which was at the annual
general meeting of the company held on 2 September 2013 to
repurchase a maximum of 22 516 284 ordinary shares (being 10%
of the issued share capital).

2.   Implementation
The details relating to the repurchase of the 6 755 937 TFG
ordinary shares between 17 September 2007 and 8 October 2013
are as follows:

Number of ordinary shares repurchased                       6 755 937
Value of ordinary shares repurchased                     R634 327 649
Highest price paid per ordinary share (cents)               11 593,73
Lowest price paid per ordinary share (cents)                 5 196,82
Average price paid per ordinary share (cents)                9 389,19
Cumulative number of ordinary shares repurchased           13 531 610
Cumulative value of ordinary shares repurchased        R1 057 195 719
Number of ordinary shares which may still be               21 034 498
repurchased in terms of the general authority
Ordinary shares in issue on date of this                  225 162 840
announcement

The requirements of paragraph 5.72 of the JSE Listings
Requirements have been complied with in the repurchasing of
these shares.

3.   Source of funds
Repurchases to date have been funded from available cash resources.

4.   Opinion of the directors
The directors have considered the impact of the share repurchase 
and are of the opinion that:

4.1   the company and its subsidiaries will be able, in the
ordinary course of business, to pay its debts for a period of
12 months from the date of this announcement;

4.2   the   consolidated   assets  of   the   company  and  its
subsidiaries are in excess of the consolidated liabilities,
measured in accordance with the accounting policies used in the
audited results for the year ended 31 March 2013;

4.3   the ordinary share capital and consolidated reserves of
the company and its subsidiaries will be adequate for a period
of 12 months from the date of this announcement; and

4.4   the working capital of the company and its subsidiaries
will be adequate for a period of 12 months from the date of
this announcement.

5.   Financial effects
The pro forma financial effects set out below are the
responsibility of the directors of TFG and are provided for
illustrative purposes only. Due to the nature of pro forma
financial information, it may not give a fair reflection of
shareholders` financial position, changes in equity, results
of operations or cash flows after the repurchase.

                   Before the       After the
                   repurchase      repurchase
                      (cents)         (cents)           Change (%)
Earnings per
share                   856,4             863,5                   0,83
Headline
earnings per
share                   858,6             865,8                   0,84
Net asset
value                 3 352,6           3 404,6                   1,55
Net tangible
asset value           3 295,0           3 346,3                   1,56

Note 1: The above calculations are based on TFG’s audited results for 
the year ended 31 March 2013.

Note 2: The financial effects are calculated based on the assumption 
that the repurchases had been carried out on the 1st of April 2012.

6.   Treasury shares
Of the shares purchased, 3,3m have been cancelled on 30 July 2013 
and the remainder are still held as treasury stock.


Cape Town
10 October 2013

SPONSOR
UBS South Africa (Pty) Ltd

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