Repurchase of Ordinary Shares
Mazor Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/017221/06)
Share code: MZR ISIN: ZAE000109823
(“Mazor” or “the Company”)
REPURCHASE OF ORDINARY SHARES
Mazor herewith announces the repurchase of 4,319,349 (3.95% of the issued ordinary shares) Mazor
ordinary shares, since and in accordance with the general authority granted by Mazor shareholders at the
annual general meeting held on 31 July 2017 (“the Repurchase”).
Details of the Repurchase are as follows:
Total number of ordinary shares repurchased: 4,319,349
Total Value of ordinary shares repurchased: R 6,656,712
Highest price paid per ordinary share: R 1.60
Lowest price paid per ordinary shares: R1.50
The number of ordinary shares which may still be repurchased
by the Company in terms of the general authority: 17,550,939
The percentage of ordinary shares which may still be
repurchased by the Company in terms of the general authority: 16.05%
Total shares in issue: 109,351,442
Number of shares held in treasury after the repurchase: 4,420,854
Dates of Repurchase: 25 August 2017 to 4 June 2018
The 4,420,854 Mazor ordinary shares will not be cancelled and will be held as treasury shares.
In compliance with paragraph 5.72(a), of the Listing Requirements of the JSE Limited (“JSE”), 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 Repurchase was put
in place pursuant to a repurchase programme prior to a prohibited period in accordance with the JSE
3. SOURCE OF FUNDS
Repurchases to date have been funded from available company cash resources.
4. STATEMENT BY THE BOARD OF DIRECTORS
The directors of Mazor have considered the impact of the repurchases and are of the opinion that:
- Mazor and the group will be able, in the ordinary course of business, to pay its debts for a period
of 12 months from the date of this announcement;
- the assets of Mazor and the group will be in excess of the liabilities of the Company and the
group for a period of 12 months after the date of this announcement, measured in accordance
with the accounting policies used in the last published audited financial statements;
- the ordinary share capital and reserves of Mazor and the group will be adequate for ordinary
business purposes for a period of 12 months from the date of this announcement; and
- the working capital of Mazor and the group will be adequate for ordinary business purposes for a
period of 12 months from the date of this announcement.
5. IMPACT OF THE REPURCHASE ON FINANCIAL INFORMATION
The impact of the General Repurchase on the financial information of the Company has not been material
and has resulted in a cash outflow of R6,656,712. Interest earned on the cash resources used to acquire
the Ordinary Shares will be forgone.
5 June 2018
Sponsor: Bridge Capital Advisors Proprietary Limited
Date: 05/06/2018 01:51:00 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.