YORK TIMBER HOLDINGS LIMITED - General repurchase of shares

General repurchase of shares

York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company”)


GENERAL REPURCHASE OF SHARES



1. INTRODUCTION

    In terms of paragraphs 5.79 and 11.27 of the JSE Limited Listings Requirements (“JSE”) (“Listings
    Requirements”), York shareholders are advised that the Company has concluded a general
    repurchase of 13 072 289 York ordinary shares (“Shares”), which represent 3.9% of the issued
    shares of the Company, on the open market of the JSE (“Repurchase”). The Repurchase was
    effected in accordance with the general authority approved by York shareholders at the annual
    general meeting held on Wednesday, 4 November 2015 to repurchase up to 10% of the Company’s
    issued shares (“General Authority”). The Repurchase was funded from available cash resources.

2. INFORMATION PERTAINING TO THE REPURCHASE

    Dates of repurchases of securities:                Between 12 May 2015 and 8 June 2016
    Highest price paid per Share:                      300c per share
    Lowest price paid per Share:                       234c per share
    Number of Shares repurchased:                      13 072 289
    Value of Shares repurchased:                       R34 826 056
    The number of Shares which may still be            20 051 771
    repurchased by the Company in terms of the
    General Authority:
    The percentage of Shares which may still be        6.1%
    repurchased by the Company in terms of the
    General Authority:
    Total shares in issue as at the date of this       331 240 597
    announcement:

3. OPINION OF THE DIRECTORS

    The directors of York confirm that, after considering the effect of the Repurchase, for a period of
    12 months after the date of this announcement:

    -     York and its subsidiaries the (“Group”) will be able in the ordinary course of business to pay
          its debts;
    -     the assets of York and the Group will be in excess of the liabilities of York and the Group;
    -     the share capital and reserves of York and the Group will be adequate for ordinary business
          purposes;
    -     the working capital of York and the Group will be adequate for ordinary business purposes;
          and
    -     the Company has satisfied the solvency and liquidity tests as set out in the Companies Act
          No.71 of 2008 prior to implementing the Repurchase.
  
   The directors of York further confirm that paragraph 5.72(a) of the Listings Requirements has been
   complied with.

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 R34 826 056 and an increase in treasury shares to 13 072 289 ordinary shares. There will be
   no impact on the issued share capital.



Sabie, Mpumalanga
9 June 2016


Sponsor
One Capital

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