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TRENCOR LIMITED - Textainer announces share repurchase program

Release Date: 04/09/2019 11:07
Code(s): TRE     PDF:  
 
Wrap Text
Textainer announces share repurchase program

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TEXTAINER ANNOUNCES SHARE REPURCHASE PROGRAM

We draw attention to the following news release issued by Textainer Group Holdings
Limited, in which Trencor has a 47,48% interest:

“Hamilton, Bermuda, Sept. 3, 2019 /PRNewswire/ - Textainer Group Holdings Limited
(NYSE: TGH) (“Textainer”), one of the world’s largest lessors of intermodal containers,
today announced that its Board of Directors has authorized a share repurchase program
under which Textainer may repurchase up to $25,000,000 in the aggregate of the
Company's outstanding shares of common stock. Repurchases under this program may be
made from time to time through open market purchases, privately negotiated transactions
or such other manners as will comply with applicable laws and regulations.

“The share repurchase program reflects our confidence in the strength of our business and
the long-term outlook for Textainer. We remain committed to delivering value to our
shareholders while maintaining a strong financial position to support the future growth of
our business,” said Olivier Ghesquiere, President and Chief Executive Officer of
Textainer Group Holdings Limited.

The timing and actual number of shares repurchased will depend on a variety of factors
including price, corporate and regulatory requirements, market conditions and other
corporate liquidity requirements and priorities. The repurchase program does not obligate
Textainer to purchase any particular number of shares and there is no guarantee as to the
exact number of shares that will be repurchased by Textainer. Textainer may suspend,
modify or terminate the program at any time and for any reason, without prior notice. The
Company intends to finance the repurchases with free cash flow and excess cash and
available liquidity.

Contact Information
+1 415-658-8333
ir@textainer.com”

Trencor Services (Pty) Ltd
Secretaries
4 September 2019

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

Date: 04/09/2019 11:07:00
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