INDEQUITY GROUP LIMITED - General Repurchase of Shares

General Repurchase of Shares

INDEQUITY GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1998/015883/06
Share code: IDQ ISIN: ZAE000016606
(“Indequity” or “the Company”)


GENERAL REPURCHASE OF SHARES


1. INTRODUCTION

   In compliance with paragraph 11.27 of the Listings Requirements of JSE Limited, the board of directors of
   Indequity (“the Board”) hereby advises shareholders that Indequity has cumulatively repurchased 477 879
   Indequity ordinary shares, representing 4.04% of the Company’s issued share capital, in terms of the
   general authority granted by shareholders at the annual general meeting held on 22 January 2020
   (“Repurchase”).


2. DETAILS OF THE REPURCHASE

   Details of the Repurchase are as follows:
   Date of repurchases:                           20 February 2020 to 22 June 2020
   Number of shares repurchased:                  477 879
   Lowest repurchase price per share:             600 cents
   Highest repurchase price per share:            800 cents
   Total value of shares repurchased:             R3 403 872.71

   The Repurchase was effected through the order book operated by the JSE and done without any prior
   understanding or arrangement between the Company and the counter parties. None of the shares
   repurchased were done so during a closed period.

   Following the Repurchase, Indequity holds 1 100 000 shares as treasury shares, representing 9.64% of
   the Company’s ordinary shares in issue as at the date of this announcement.

   Following the Repurchase, the extent of the general authority to repurchase shares outstanding is
   1 489 604 ordinary shares, representing 12.07% of the total issued share capital of the Company as at
   the beginning of the Company's financial year.

   339 464 of the shares repurchased have been cancelled and delisted. The remainder of 138 415 shares
   will be cancelled and delisted on or about 30 June 2020.


3. OPINION OF THE BOARD

   The Board has considered the effect of the Repurchase and is of the opinion that, for a period of
   12 months following the date of this announcement:

    -   the Company and the group will be able, in the ordinary course of business, to repay its debts;
    -   the assets of the Company and the group will be in excess of the liabilities of the Company;
    -   the share capital and reserves of the Company and the group will be adequate for ordinary
        business purposes; and
    -   the Company and the group will have adequate working capital for ordinary business purposes.


4. FINANCIAL INFORMATION PERTAINING TO THE REPURCHASE

   The impact of the Repurchase has been calculated and the Board can confirm that the implementation of
   the Repurchase is limited to a reduction in cash of R3 403 872.71 as the Repurchase was funded from
   the Company’s available cash resources.


Johannesburg
23 June 2020

Sponsor
Merchantec Capital

Date: 23-06-2020 04:40:00
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