INTERWASTE HOLDINGS LIMITED - General Repurchase of Shares Announcement

General Repurchase of Shares Announcement

Interwaste Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/037223/06)
JSE code: IWE
ISIN: ZAE000097903
(“the company”)

GENERAL REPURCHASE OF SHARES ANNOUNCEMENT

Introduction

The board of directors of the company (the “Board”) hereby advises shareholders that
the company has cumulatively repurchased 28,975,306 ordinary shares, representing
6.18% of the company’s issued share capital at an average purchase price of 86.6 c per
share, in terms of the general authority granted by shareholders at the annual general
meeting held on Wednesday 28th June 2017.

Details of the general repurchase

Details of the general repurchase are as follows:
Dates of the repurchases:                           From 28 June 2017 to 3 May 2018
Number of shares purchased:                         28,975,306
Lowest repurchase price per share (cents):          75
Highest repurchase price per share (cents):         97
Total value of shares repurchased:                  R 25,092,950

The shares are held by a subsidiary company.

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.

The company holds 34,072,945 shares as treasury shares, representing 7.26% of the
company’s issued share capital.

Following the repurchase, the extent of the general authority to repurchase shares
outstanding is 64,843,269 ordinary shares, representing 13.82% of the total issued
share capital of the company, at the time the authority was granted. The company is
monitoring certain thresholds imposed by the Companies Act and is able to repurchase
a total of 9,567,454 ordinary shares, representing 2.04% of the total issued share capital
of the company without triggering any additional requirements.

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.

Source of funds
The general repurchase were funded from the company’s available cash resources.

Financial information
Cash balances decreased by R 25,092,950 as a result of the general repurchase. The
impact on other areas of the company’s financial information is immaterial.

4 May 2018
Johannesburg

Sponsor
Grindrod Bank

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