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
  1 954 727 Indequity ordinary shares, representing 16.51% 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 27 July 2020
  Number of shares repurchased:                  1 954 727
  Lowest repurchase price per share:             600 cents
  Highest repurchase price per share:            800 cents
  Total value of shares repurchased:             R15 182 727.75

  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 950 000 shares as treasury shares, representing 8.74% 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 12 756
  ordinary shares, representing 0.10% of the total issued share capital of the Company as at the beginning
  of the Company's financial year.

  781 967 of the shares repurchased have been cancelled and delisted. The remainder of 1 172 760
  shares will be cancelled and delisted on or about 31 July 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 R15 182 727.75 as the Repurchase was funded from
  the Company’s available cash resources.

Johannesburg
28 July 2020

Sponsor
Merchantec Capital

Date: 28-07-2020 03:25:00
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