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EQSTRA HOLDINGS LIMITED - Repurchase of Eqstra ordinary shares in terms of the Lereko BEE transaction

Release Date: 04/06/2015 17:12
Code(s): EQS     PDF:  
Wrap Text
Repurchase of Eqstra ordinary shares in terms of the Lereko BEE transaction

Eqstra Holdings Limited 

(Incorporated in the Republic of South Africa) 

(Registration number 1998/011672/06) 

ISIN: ZAE000117123 

JSE share codes: EQS 

(“the Company” or “ Eqstra” or “the Group”) 

REPURCHASE OF EQSTRA ORDINARY SHARES IN TERMS OF THE LEREKO BEE TRANSACTION 

Shareholders are referred to the Eqstra unbundling circular / pre-listing statement dated 20 March 2008 
and to various Stock Exchange News Service (“SENS”) announcements issued by both the Company and 
by Imperial Holdings Limited, including that dated 30 September 2010, wherein the issue of equity 
shares to Lereko Mobility Proprietary Limited (“Lereko”) in terms of a Black Economic Empowerment 
(‘BEE’) transaction, were detailed (“Lereko BEE transaction”). The terms of the Lereko BEE transaction, 
including the possible repurchase of its ordinary shares by Eqstra, were approved by shareholders on 14 
March 2008. In terms of the Lereko BEE transaction, Eqstra was granted a call option, in terms of which 
it has the right to repurchase a formula-determined number of Eqstra shares from Lereko at their 
original subscription price of 0.1 cent each (“the repurchase right”). 

Shareholders are advised that, in terms of the repurchase right, Eqstra has today repurchased 5 864 944 
Eqstra ordinary shares (representing 1.426% of the Company’s current issued ordinary share capital) 
held by Lereko (‘the Eqstra repurchased shares”). 

The Eqstra repurchased shares will be delivered to the Company on 15 June 2015 and application will be 
made for their delisting and cancellation, with effect from 15 June 2015. Given that the Eqstra 
repurchased shares will be cancelled and returned to authorised, unissed share capital, Eqstra’s exercise 
of its repurchase right has no effect on the number of treasury shares held prior to the repurchase.  

Likewise, Eqstra’s exercise of the repurchase right will have no material impact on the Group’s financial 
position, profit or loss and cash flow statements.  

4 June 2015 

Kempton Park 

Sponsor 

RAND MERCHANT BANK (A division of FirstRand Bank Limited) 

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