THE FOSCHINI GROUP LIMITED - Implementation of share repurchase agreement

Release Date: 19/09/2014 14:31
Code(s): TFG
Wrap Text
Implementation of share repurchase agreement

The Foschini Group Limited
Registration No. 1937/009504/06
Code: TFG
ISIN: ZAE000148466

Implementation of share repurchase agreement

As announced on 1 September 2014, shareholders of the Company approved a specific repurchase
of 11 000 000 ordinary shares from its subsidiary Foschini Stores (Proprietary) Limited at the
Company’s Annual General Meeting held on 1 September 2014. Shareholders are now advised that
the effective date of the specific repurchase is today, 19 September 2014 with a purchase price of
R 117.39 per share (being the weighted average traded price for the 30 business days prior to the
effective date). The total consideration of R1 291 290 000 will be discharged by way of inter-
company loans.

The Company will deal with the necessary formalities, including notifying the relevant regulatory
authorities as required by the Companies Act. As soon as practically possible the repurchased shares
will be cancelled and restored to authorised share capital.

Cape Town

19 September 2014


UBS South Africa (Pty) Ltd

Date: 19/09/2014 02:31:00 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.

Email this JSE Sens Item to a Friend.

Share This Story