Long4Life to spend up to R114m buying back its shares
The group managed a small half-year profit in spite of Covid-19, citing its discount as a reason to buy its own shares instead of making acquisitions
07 December 2020 - 13:05
Brian Joffe’s investment group, Long4Life, has announced it will buy back as much as R113.8m of its own shares, continuing its repurchases after saying recently it saw no acquisition opportunities that would be a better use for its cash.
The group, which owns beauty chain Sorbet and Chill Beverages, will spend a maximum of R3.16 per share to purchase as much as 36-million shares — about 4.7% of its paper in issue — from December 7-14...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.