NOVUS HOLDINGS LIMITED - Repurchase of ordinary shares

Repurchase of ordinary shares

Novus Holdings Limited
(Incorporated in the Republic of South Africa)
JSE share code: NVS
ISIN: ZAE000202149
(“Novus Holdings”, “the Company” or “the Group”)


REPURCHASE OF ORDINARY SHARES


INTRODUCTION

In terms of a general authority granted by Novus Holdings shareholders at the Company’s annual general
meeting held on 17 August 2018, a special resolution was passed to approve the repurchase of its ordinary
shares.

AUTHORISED LIMITS

In terms of the special resolution:

 (a) The general authority is limited to a maximum of 20% of Novus Holdings issued ordinary share capital
     being 69 466 491 shares.
 (b) Any repurchase may not be made at a price greater than 10% above the weighted average of the market
     value of the ordinary shares for the five business days immediately preceding the date of such
     repurchase.
 (c) The repurchase of shares being affected through the order book operated by the Johannesburg Stock
     Exchange trading system and done without any prior understanding or arrangement between Novus
     Holdings and the counter party.

IMPLEMENTATION

Details are as follows:

Total number of ordinary shares repurchased during the period which represents 3.67% of the total issued

ordinary shares (22 August 2018 to 11 September 2018)                                       12 758 403
Total value of ordinary shares repurchased                                                  R59 297 689.96
Highest price paid per ordinary share                                                       R4.8000
Lowest price paid per ordinary share                                                        R4.1000
Average price paid per ordinary share including costs                                       R4.6477
The number of ordinary shares which may still be purchased
by Novus Holdings in terms of the general authority                                         56 708 088
The percentage of ordinary shares which may still be repurchased
by Novus Holdings in terms of the general authority                                         16.33%
Ordinary shares in issue on 31 March 2018, the date of Novus Holdings
most recent published financial year end results                                            347 332 454
Ordinary shares in issue on 10 November 2017, the date of Novus Holdings
most recent published half year end results                                                 347 332 454
Treasury shares held after the repurchase                                                   40 545 000
SOURCE OF FUNDS

The repurchases to date have been funded from available cash resources and it is intended that all future
purchases will also be funded from available cash resources.

OPINION OF THE DIRECTORS

The Directors of Novus Holdings have considered the impact of the share repurchase and are of the opinion
that:

    - Novus Holdings and its subsidiaries will be able, in the ordinary course of business, to repay its debts
      for a period of 12 months from date of this announcement.

    - The assets of Novus Holdings and its subsidiaries are in excess of the liabilities, measured in accordance
      with the accounting policies used in the audited results for the year ended 31 March 2018.

    - The ordinary share capital and reserves of Novus Holdings and its subsidiaries will be adequate for a
      period of 12 months from the date of this announcement.

    - The working capital of Novus Holdings and its subsidiaries will be adequate for a period of 12 months
      from the date of this announcement.

FINANCIAL INFORMATION

Novus Holdings cash balance decreased by R59 651 193.35 as a result of the repurchase and costs related
thereto. The repurchased shares are being held as treasury shares.

For and on behalf of the Board.

Cape Town

13 September 2018
Sponsor: Investec Bank Limited

Date: 13/09/2018 08:15:00 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.