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TRUWORTHS INTERNATIONAL LIMITED - Cancellation and delisting of the company's shares

Release Date: 20/12/2013 17:24
Code(s): TRU     PDF:  
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Cancellation and delisting of the company's 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”)


CANCELLATION AND DELISTING OF PORTION OF THE COMPANY’S SHARES

Shareholders of the Company (“Shareholders”) are advised that on 20
December 2013, the board of the Company cancelled and applied for the de-
listing from the stock exchange operated by the JSE Limited of 43 853 997 of
the Company’s issued ordinary shares (“Shares”).

The Shares had been acquired in the open market by wholly owned
subsidiary companies over the period from 2004 to 2013, in accordance with
the Company’s general share repurchase programme.

These Shares were purchased by the Company from the subsidiary
companies on 20 December 2013 in terms of the authority granted by special
resolution of the Shareholders taken at the annual general meeting held on 7
November 2013.

The purposes of the share purchase and cancellation are to restructure the
Company and its subsidiaries’ (“Group”) balance sheets and enable the
Group to continue its share repurchase programme, which has had added
significant shareholder value over the years in terms of enhancing earnings
and net asset value per share.

The cancellation of the Shares has no financial impact on the Company or the
Group, save for the incurral of non-material professional costs.

The Shares represent ed 9.43% of the issued shares of the Company prior to
the cancellation, and following the cancellation the number of shares in issue
comprises 421 168 723 ordinary shares of 0.015 cent each.

By order of the board

Chris Durham
Company Secretary

Cape Town
20 December 2013

Sponsor
One Capital Sponsor Services (Pty) Ltd

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