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TRELLIDOR HOLDINGS LIMITED - General Repurchase Of Ordinary Shares

Release Date: 06/12/2019 08:00
Code(s): TRL     PDF:  
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General Repurchase Of Ordinary Shares

Trellidor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/015401/06)
Share Code: TRL
ISIN Code: ZAE000209342
(“the Company” or “Trellidor”)

GENERAL REPURCHASE OF ORDINARY SHARES

At the annual general meeting of the Company held on 14 November 2019 (“AGM”),
shareholders, by special resolution, granted a general authority to the board of directors of the
Company (“Board”) to repurchase up to 20% of the issued ordinary share capital of the
Company, on the terms and subject to the conditions specified in the notice of AGM.

Shareholders are hereby advised that, on 4 December 2019, the Company repurchased an
aggregate of 5 084 300 ordinary shares, representing 4.83% of the issued ordinary share
capital of the Company. The aforementioned ordinary shares were repurchased for an
aggregate value of R19,893,036, funded out of the Company’s available cash resources.

The total number of shares repurchased under the repurchase programmes, which
commenced on 12 September 2018, were funded out of the Company’s available cash
resources. Details of the repurchases made under the repurchase programmes up to date are
as follows:

 Aggregate number        Highest price per       Lowest price per        Aggregate value
 of ordinary shares      ordinary share          ordinary share
 repurchased             repurchased             repurchased
 7 689 987               R4.90                   R 3.70                  R 30 980 703

The repurchases were made in terms of the general authorities granted by shareholders at
the 2018 and 2019 annual general meetings and were effected through the order book
operated by the JSE Limited trading system without any prior understanding or arrangement
between the Company and the counterparties. The requirements for the general repurchase
of ordinary shares in terms of paragraph 5.72(a) of the JSE Limited Listings Requirements,
have been complied with.

The Company may repurchase up to a further 15 973 279 ordinary shares, 15.17% of the
ordinary shares in issue as at the date on which the authority was granted, in terms of the
current general authority, which is valid until the Company’s next annual general meeting.

As at the date of this announcement, the Company held 5 084 300 ordinary shares in treasury.
The impact of the repurchases of the ordinary shares on the financial position of the Company
is immaterial, as the repurchases were funded out of the Company’s available cash resources.

OPINION OF THE BOARD

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

-    the Company and its subsidiaries (“the Group”) will be able, in the ordinary course of
     business, to repay their debts;
-    the consolidated assets of the Company and the Group will be in excess of the
     consolidated liabilities of the Company and the Group;
-    the Company’s and the Group’s share capital and reserves will be adequate for the
     ordinary business purposes of the Company and the Group; and
-    the Company and the Group will have sufficient working capital for ordinary business
     purposes.

Durban
6 December 2019

Sponsor
Transaction Adviser
PSG Capital

Date: 06-12-2019 08:00:00
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