JSE Sens

INDEQUITY GROUP LIMITED - General Repurchase of Shares

11 January 2019 - 07:00 AM
IDQ
General Repurchase of Shares

INDEQUITY GROUP LIMITED
Incorporated in the Republic of South Africa
Registration number 1999/010069/06
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 654 228
  Indequity ordinary shares, representing 4.99% of the Companys issued share capital, in terms of the
  general authority granted by shareholders at the annual general meeting held on 16 January 2018
  (Repurchase).

2. DETAILS OF THE REPURCHASE

  Details of the Repurchase are as follows:
  Date of repurchases:                           20 March 2018 to 9 January 2019
  Number of shares repurchased:                  654 228
  Lowest repurchase price per share:             305 cents
  Highest repurchase price per share:            700 cents
  Total value of shares repurchased:             R 2 600 118.50

  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 1 245 000 shares as treasury shares, representing 9.5% of
  the Companys issued share capital.

  Following the Repurchase, the extent of the general authority to repurchase shares outstanding is
  1 966 898 ordinary shares, representing 15.01% of the total issued share capital of the Company at the
  time the authority was granted.

  311 522 of the shares repurchased have been cancelled and delisted. The remainder of 342 706 shares
  will be cancelled and delisted on or about 18 January 2019.

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 R2 600 118.15 as the Repurchase was funded from
  the Companys available cash resources.


Johannesburg
11 January 2019

Sponsor
Merchantec Capital

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