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TRELLIDOR HOLDINGS LIMITED - General Repurchase Of Ordinary Shares

Release Date: 05/06/2019 10:45
Code(s): TRL     PDF:  
 
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General Repurchase Of Ordinary Shares

Trellidor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1970/015401/06)
Share Code: TRL
ISIN Code: ZAE000209342
(“the Company” or “the Group”)

GENERAL REPURCHASE OF ORDINARY SHARES

At the annual general meeting of the Company held on 15 November 2018 (“AGM”),
shareholders, by special resolution, granted a general authority to the board of directors of the
Company (“Board”) to repurchase up to 20% of the issued ordinary share capital of the
Company, on the terms and subject to the conditions specified in the general authority
obtained.

Shareholders are hereby advised that, during open periods commencing on 12 September
2018 to 27 May 2019, the Company has repurchased an aggregate of 1 649 214 ordinary
shares, representing 1.53% of the issued ordinary share capital of the Company. The
aforementioned ordinary shares were repurchased for an aggregate value of R 7 114 332,
funded out of the Company’s available cash resources, as follows:

Aggregate number        Highest price per       Lowest price per        Aggregate value of
of ordinary shares      ordinary share          ordinary share          shares repurchased
repurchased             repurchased             repurchased
1 649 214               R4.90                   R3.75                   R 7 114 332

Given the Group’s strong cash generating business model and gearing headroom, the Board
is of the opinion that it is in the best interest of shareholders of the Company to continue with
the repurchase program, in line with the abovementioned shareholders’ approval, due to the
fact that the price at which the shares of the Group are trading currently, represents a
significant discount to the intrinsic value of the Company.

Durban
5 June 2019

Sponsor and Corporate Adviser
PSG Capital

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