METAIR INVESTMENTS LIMITED - General repurchase of shares

General repurchase of shares

METAIR INVESTMENTS LIMITED
(Reg No. 1948/031013/06)
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE000090692
(“Metair” or the “Company”)

GENERAL REPURCHASE OF SHARES

1. INTRODUCTION

   Metair shareholders (“Shareholders”) are referred to the announcement published on SENS on
   22 October 2018, wherein Shareholders were advised that the Company had established a share
   repurchase programme in terms of which the Company and / or its subsidiaries may repurchase
   up to 9 949 294 ordinary shares (“Shares”), being 5% of the Company’s issued share capital,
   pursuant to and in accordance with the authority granted by Shareholders at the Company’s annual
   general meeting held on Wednesday, 2 May 2018 (“General Authority”).

   In terms of paragraph 11.27 of the JSE Limited Listings Requirements (“Listings Requirements”),
   Shareholders are advised that the Company has cumulatively repurchased 5 969 577 Shares,
   which represent 3% of the issued shares of the Company, on the open market of the JSE Limited
   (“Repurchase”). The Repurchase was funded from the Company’s available cash resources.

2. DETAILS OF THE REPURCHASE

   Dates of repurchases of securities:                             Between 22 October 2018 and
                                                                   7 December 2018, both days
                                                                     inclusive
   Highest price paid per Share:                                   R19.84 per share
   Lowest price paid per Share:                                    R14.13 per share
   Value of Shares repurchased:                                     R104 369 314.05
   The number of Shares which may still be repurchased by          3 979 717
   the Company in terms of the General Authority:
   The percentage of Shares which may still be repurchased         2%
   by the Company in terms of the General Authority:
   Total shares in issue as at the date of this                    198 985 886
   announcement:

3. STATEMENT BY THE BOARD

   The directors of Metair (“Directors”) confirm that, after considering the effect of the Repurchase,
   for a period of 12 months after the date of this announcement:

       i.   Metair and its subsidiaries (the “Group”) will be able in the ordinary course of business to
            pay its debts;
      ii.   the assets of Metair and the Group will be in excess of the liabilities of Metair and the Group;
     iii.   the share capital and reserves of Metair and the Group will be adequate for ordinary
            business purposes; and
      iv.   the working capital of Metair and the Group will be adequate for ordinary business purposes.
   
   The Directors further confirm that paragraph 5.72(a) of the Listings Requirements has been
   complied with. All repurchased Shares will not be cancelled and will remain listed as they will be
   held in treasury.

4. IMPACT OF THE REPURCHASE ON THE FINANCIAL INFORMATION

   The impact of the Repurchase on the company’s financial position is limited to a reduction in cash
   of R104 872 734.31 and an increase in treasury shares to 6 702 399 Shares. There will be no
   impact on the issued share capital.


Johannesburg
10 December 2018

Sponsor
One Capital

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