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Delisting of Ordinary Shares Pursuant to a General Repurchase and Intra-Group Distribution of ARM Treasury Shares
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or "the Company")
ANNOUNCEMENT OF CANCELLATION AND DELISTING OF ORDINARY
SHARES PURSUANT TO A GENERAL REPURCHASE AND INTRA-GROUP
DISTRIBUTION OF ARM TREASURY SHARES
The board of directors of the Company ("Board") hereby
advises shareholders that ARM, in accordance with the
general authority granted by shareholders at the
Company's annual general meeting held on 6 December
2024 ("General Authority"), has cumulatively
repurchased and cancelled 3,239,681 ordinary shares
("Repurchased Shares"). The Repurchased Shares were
acquired through the order book operated by the JSE
Limited ("JSE"), in a series of unrelated transactions
without any prior understanding or arrangement between
the Company and the counterparty between 31 March 2025
and 25 April 2025 at an average price of R154.27 per
share representing a total consideration of R499.8
million. This voluntary update on the general
repurchase will be supplemented by a regulatory
announcement in terms of the JSE Listings Requirements,
if ARM cumulatively repurchases 3% in terms of its
General Authority.
The Board further notifies shareholders that on 20 June
2025 Opilac Proprietary Limited ("Opilac"), a wholly-
owned subsidiary of ARM, effected a distribution in
specie of its entire shareholding in ARM, being
12,717,328 ordinary shares ("Treasury Shares"), to the
Company. As this is being effected pursuant to a
distribution by Opilac, no consideration is payable by
the Company for the Treasury Shares. Application for
the cancellation and delisting of the Treasury Shares
will be submitted to the JSE on 20 June 2025.
The cancellation of the Treasury Shares has no impact
on the earnings per share and headline earnings per
share of ARM.
The issued share capital of the Company following the
cancellation of the Repurchased Shares and the
cancellation of the Treasury Shares will comprise
208,710,769 ordinary shares in aggregate.
Sandton
20 June 2025
Sponsor: Investec Bank Limited
Date: 20-06-2025 12:55:00
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