LIGHTHOUSE CAPITAL LIMITED
(formerly Greenbay Properties Ltd)
(Incorporated in the Republic of Mauritius on 14 August 2014)
(Registration number C124756 C1/GBL)
SEM share code: GFP.N0000
JSE share code: LTE
("Lighthouse" or "the Company")
At the Annual General Meeting of the Company held on 28 February 2019, shareholders of Lighthouse provided the
Company with a general authority to repurchase up to 5% of the Company's issued share capital as at the date on
which the general authority was granted. The Board of directors of Lighthouse ("the Board") has resolved to
repurchase up to a maximum of 4.999% of the issued share capital of the Company as at 28 February 2019,
representing 22 884 928 ordinary shares in the Company ("the Proposed Buyback"). The Proposed Buyback will
run from 4 June 2019 to 31 December 2019 and will be at a price calculated based on the prevailing market price at
the time, limited to a maximum of the net asset value per share of the Company at the time of repurchase and not
more than 5% above the weighted average of the market value of the shares as traded on the JSE Limited ("JSE") for
the five business days immediately preceding the date that the repurchase is effected.
The shares that are bought back by the Company will be cancelled.
The Board is of the opinion that it is in the best interest of shareholders to proceed with the Proposed Buyback, due
to the fact that the price at which the shares of Lighthouse are trading currently, represents a significant discount to
the intrinsic value of the Company. A reduction in share capital will therefore have the effect of increasing the net
asset value per share of the Company.
Any amendment to these terms will be announced on the Stock Exchange of Mauritius Ltd ("SEM") website and the
Stock Exchange News Service of the JSE.
An Explanatory Statement relating to the Proposed Buyback has been distributed to the shareholders of the Company
The Company has a primary listing on both the Official Market of the SEM and the Main Board of the JSE.
By order of the Board
28 May 2019
This notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and Rule 5(1) of the
Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board of Directors of Lighthouse Capital
Limited accepts full responsibility for the accuracy of the information contained in this announcement.
Tel: +27 11 722 3050
SEM authorised representative and sponsor
Tel: +230 402 0890
Intercontinental Trust Ltd
Tel: +230 403 0800
Date: 28/05/2019 02:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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