ALVIVA HOLDINGS LIMITED - Voluntary general repurchase announcement

Voluntary general repurchase announcement

Alviva Holdings Limited
(Formerly Pinnacle Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “The Company”)

VOLUNTARY GENERAL REPURCHASE ANNOUNCEMENT

1.     INTRODUCTION

      The board of directors of Alviva (“the Board”) hereby advises shareholders that Alviva has
      cumulatively repurchased 3 840 000 ordinary shares, representing 2.3% of the Company’s
      issued share capital (excluding treasury shares), in terms of the general authority granted by
      shareholders at the annual general meeting (“AGM”) held on 25 November 2016 (“Repurchase”).

2.    DETAILS OF THE GENERAL REPURCHASE

      Details of the repurchases are as follows:

      Dates of repurchases:                             6 April 2017 to 17 May 2017
      Number of shares repurchased:                     3 840 000
      Lowest repurchase price per share (cents):        1 901.47
      Highest repurchase price per share (cents):       2 090.00
      Total value of shares repurchased:                R79 246 799

      The shares were delisted and cancelled on 24 May 2017.

      The repurchases were effected through the order book operated by the JSE and done without
      any prior understanding or arrangement between the Company and the counter parties.

      Alviva holds 9 720 000 shares as treasury shares, representing 5.74% of the Company’s issued
      share capital. The repurchase had no effect on the number of treasury shares.

      Following the repurchase, the extent of the general authority to repurchase shares outstanding
      is 29 506 514 ordinary shares, representing 17.7% of the total issued share capital of Alviva, at
      the time the authority was granted.

3.    OPINION OF THE BOARD

      The Board has considered the effect of the repurchase and is of the opinion that, for a period of
      12 months following the date of this announcement:

      -    the Company and the Group will be able, in the ordinary course of business, to repay their
           debts;
      -    the assets of the Company and the Group will be in excess of the liabilities of the Company
           and the Group;
      -    the Company and the Group’s ordinary capital and reserves will be adequate for ordinary
           business purposes; and
      -    the Company and the Group will have adequate working capital for ordinary business
           purposes.
4.    SOURCE OF FUNDS

      The repurchases were funded from the Company’s available cash resources.

5.    FINANCIAL INFORMATION

      Cash balances decreased by R79 246 799 as a result of the General Repurchase. The impact
      on other areas of the Company’s financial information is immaterial.

Midrand
29 June 2017
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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