LONG4LIFE LIMITED - Repurchase of Shares

Repurchase of Shares

LONG4LIFE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2016/216015/06)
Share code: L4L ISIN: ZAE000243119
("Long4Life" or “the Company” or “the Group”)

REPURCHASE OF SHARES

1.       INTRODUCTION
         In terms of paragraph 5.79 and 11.27 of the Listings Requirements of the JSE Limited(“JSE”), shareholders
         are advised that the Company has purchased an additional 15 636 393 of its own ordinary shares, which
         is 3.5% of the Company’s issued share capital as at the time of the general authority granted by
         shareholders at the Company’s annual general meeting held on 20 August 2019 (the “General
         Repurchase”).

         The General Repurchase was effected through the order book operated by the JSE trading system without
         any prior understanding or arrangement between Long4Life and the counter parties. No shares were
         repurchased during any prohibited period. The General Repurchase was funded from available cash
         resources.

2.       DETAILS OF THE REPURCHASE
         Date of General Repurchase:                                        15 October 2019
         Average price paid per share:                                      R4.34
         Lowest price paid per share:                                       R4.00
         Highest price paid per share:                                      R4.35
         Number of shares repurchased:                                      15 636 393
         Total value of Shares repurchased:                                 R67 899 814
         Number of treasury shares (after the General Repurchase):          78 656 086


3.       STATEMENT BY THE DIRECTORS
         The board of directors of Long4Life confirm that, after considering the effect of the General Repurchase,
         for a period of 12 months after the date of this announcement:
     -    The Company and its subsidiaries will be able to pay its debts in the ordinary course of business.
     -    The assets of the Company and the Group will be in excess of the 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.
     -    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.

4.       IMPACT OF THE GENERAL REPURCHASE ON THE FINANCIAL INFORMATION OF THE COMPANY
         The Company’s cash balances decreased by R68 million as a result of the Repurchase.


Johannesburg
16 October 2019

Sponsor: The Standard Bank of South Africa Limited

Date: 16/10/2019 01:50:00
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