ONELOGIX GROUP LIMITED - Voluntary announcement: General repurchase of shares

Release Date: 17/01/2018 17:00
Code(s): OLG
 
Wrap Text
Voluntary announcement: General repurchase of shares

ONELOGIX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG ISIN: ZAE000026399
(“OneLogix” or “the company” or “the group”)


VOLUNTARY ANNOUNCEMENT: GENERAL REPURCHASE OF SHARES


Shareholders are advised that OneLogix has cumulatively repurchased 5 205 540 shares, representing 1.8% of
the company’s issued share capital, in terms of the general authority granted by shareholders at the annual
general meetings held on 24 November 2016 and 23 November 2017 (“Repurchase”).

Details of the Repurchase are as follows:

Dates of Repurchase:                                       17 October 2017 to 15 January 2018
Number of shares repurchased:                              5 205 540
Lowest repurchase price per share (cents):                 299.00
Highest repurchase price per share (cents):                306.00
Total value of shares repurchased:                         R15 811 116

Application for the delisting of the repurchased shares will be done in due course and no shares shall be held 
as treasury shares.

Following the Repurchase, the extent of the general authority to repurchase shares (granted at the annual general
meeting held on 23 November 2017) outstanding is 52 779 096 ordinary shares, representing 18.2% of the total
issued share capital of OneLogix, at the time the general authority was granted.

The board has considered the effect of the Repurchase and believes that for a period of twelve months following
the date of this announcement:

•   the company and the group will be able in the ordinary course of business to pay its debts;
•   the assets of the company and the group will be more than the liabilities of the company and the group. For
    this purpose, the assets and liabilities were recognised and measured in accordance with the accounting
    policies used in the latest audited annual group financial statements;
•   the share capital and reserves of the company and the group will be adequate for ordinary business
    purposes;
•   the working capital of the company and the group will be adequate for ordinary business purposes; and
•   the company and the group have passed the solvency and liquidity test and since the test was performed,
    there have been no material changes to the financial position of the group.

The Repurchase was funded from the group’s available cash resources. Cash balances decreased by
R15 811 116 as a result of the Repurchase. The impact on other areas of the company’s financial information is
immaterial.

The Repurchase was put in place pursuant to a repurchase programme prior to the commencement of the closed
period (which commenced on 30 November 2017) in accordance with the JSE Listings Requirements.

17 January 2018


Sponsor
Java Capital

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