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General Repurchase of Shares
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP
ISIN: ZAE000138459
("SepHold" or "the Company")
GENERAL REPURCHASE OF SHARES
At the annual general meeting of SepHold held on 18 September 2023 ("AGM"), shareholders, by special resolution,
granted a general authority to the board of directors of the Company and its subsidiaries ("the Group") for the
Company to repurchase up to 20% and for its subsidiaries to repurchase up to 10% 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, during the period commencing on 8 December 2023 to 20 December 2023, the
Company's subsidiary, Métier Mixed Concrete Proprietary Limited, repurchased an aggregate of 8,858,180 ordinary
shares, representing 3.48% of the issued ordinary share capital of the Company as at the date on which the authority
to repurchase the ordinary shares was granted. The aforementioned ordinary shares were repurchased for an
aggregate value of R8,796,711 (including transaction costs), funded out of the Group's available cash resources, as
follows:
Date of Aggregate number Highest price per Lowest price per Aggregate value
repurchases of ordinary shares ordinary share ordinary share (excluding
repurchased repurchased repurchased transaction costs)
11-12-23 95,337 98c 90c 94,002.14
9-12-23 104,500 95c 95c 100,817.07
12-12-23 5,815,045 98c 94c 5,734,031.23
13-12-23 282,682 99c 95c 279,888.95
14-12-23 918,343 100c 90c 920,309.34
18-12-23 384,093 101c 96c 388,680.45
19-12-23 20,000 100c 100c 20,000.00
20-12-23 1,238,180 101c 101c 1,250,561.80
The repurchases were made in terms of the general authority granted by shareholders at the AGM and were effected
through the order book operated by the JSE Limited trading system without any prior understanding or arrangement
between the Company or subsidiary and the counterparties. All of the requirements for the general repurchase of
ordinary shares in terms of paragraph 5.72 of the JSE Limited Listings Requirements, have been complied with.
The Company's subsidiary may repurchase up to a further 16,590,464 ordinary shares (6.52%) 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 Group held 8,858,180 ordinary shares in treasury, including the repurchased
shares referred to in this announcement.
As all the shares have been repurchased by a wholly-owned subsidiary of the Company, such shares will not be
cancelled but will remain listed and held in treasury. As a result, the Group's cash balances decreased by R8,796,711.51
(including transaction costs of R59,128.95) and the repurchases will have the effect of reducing the number of shares
in issue used for purposes of the earnings per share and headline earnings per share calculations by an additional
8,858,180 shares, which will be weighted according to the dates of the various repurchases.
STATEMENT BY 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 the Group will be able to pay its debts in the ordinary course of business;
- the consolidated assets of the Company and the Group will be in excess of the consolidated 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;
and
- the working capital of the Company and the Group will be adequate for ordinary business purposes. 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.
21 December 2023
Enquiries contact:
Neil Crafford-Lazarus
Financial Director
info@sephold.co.za
012 684 6300
Sponsor to Sephaku Holdings: Questco Corporate Advisory Proprietary Limited
About Sephaku Holdings Limited
Sephaku Holdings Limited is a building and construction materials company with a portfolio of investments in the
cement and mixed concrete sectors in South Africa. The Company's core investments are a 36% stake in Dangote
Cement South Africa (Pty) Ltd and 100% in Métier Mixed Concrete (Pty) Ltd. SepHold's strategy is to generate income
and realise value for shareholders through the production of cement and ready mixed concrete in Southern Africa.
www.sephakuholdings.com.
Date: 21-12-2023 10:30:00
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