Circular to shareholders regarding a general repurchase of shares
(Incorporated in the Republic of South Africa)
(Registration number: 2016/216015/06)
Share code: L4L ISIN: ZAE000243119
(“Long4Life” or “the Company”)
CIRCULAR TO SHAREHOLDERS REGARDING A GENERAL AUTHORITY TO REPURCHASE SHARES AND NOTICE OF GENERAL MEETING
Shareholders are referred to the announcement released on the Stock Exchange News Service
(“SENS”) of the JSE Limited (“JSE”) on Monday, 21 December 2020 in terms of which shareholders
were advised that the Company purchased an additional 35 135 094 of its own ordinary shares and
cancelled 50 401 801 shares being 5,87% of the shares in issue immediately preceding the
After the SENS announcement referred to above, the Company has authority to repurchase an
additional 95 071 578 shares in terms of the general authority granted by shareholders at the
Company’s annual general meeting held on Wednesday, 1 July 2020.
The Company has surplus liquidity in excess to its current needs. In place of paying a dividend to
shareholders of the Company, the Company has been buying back its own shares in the market
and intends to continue to do so.
The JSE rules prohibit companies from buying back more than 20% of their issued share capital in
aggregate in any given financial year. In order to provide Long4Life with maximum flexibility in its
general buyback programme in the 2022 financial year, the Company is proposing that the general
buy back resolution become effective on 1 March 2021 rather than presenting this resolution at the
Company’s AGM which is expected to be held in July 2021.
Shareholders are therefore accordingly advised that a circular to shareholders, detailing a proposed
general authority for Long4Life to repurchase up to 20% of the issued shares during the financial
year commencing on 1 March 2021 (“General Repurchase”) and incorporating a notice of a special
general meeting (“General Meeting”) and, where applicable, a form of proxy, has been distributed
to shareholders today, Monday, 18 January 2021 ("the Circular").
The Circular is also available on the Company's website at https://www.long4life.co.za/investors-
2. Notice of General Meeting and salient dates and times
The implementation of the General Repurchase is subject to, inter alia, shareholders passing the
requisite resolutions at the General Meeting of shareholders to be held at 09h30 on Tuesday,
16 February 2021 at 7th Floor, Rosebank Towers, 13–15 Biermann Avenue, Rosebank,
The record date, to determine who will be eligible to participate in and vote at the General Meeting,
is Friday, 5 February 2021.
Shareholders may participate (but not vote) electronically in the General Meeting, in accordance
with the provisions of the Companies Act. Shareholders wishing to participate electronically in the
General Meeting are required to deliver written notice to the Company Secretary at the Company’s
business address at 7th floor Rosebank Towers, 13–15 Biermann Avenue, Rosebank,
Johannesburg, 2196 or by e–mail to the Company Secretary on email@example.com by no later
than 09h30 on Friday, 12 February 2021 that they wish to participate via electronic communication
at the General Meeting (“Electronic Notice”). Teleconferencing facilities will be made available for
this purpose and may be accessed at the Shareholder’s cost.
The salient dates pertaining to the Special General Meeting (“SGM”) at which the General
Repurchase authority will be sought, also contained in the Circular, are set out below:
Record date for receipt of notice of SGM Friday, 8 January
Distribution of Circular and SGM notice Monday, 18 January
Last day to trade to be eligible to participate in and vote at the SGM Tuesday, 2 February
Record date to determine which Long4Life shareholders are Friday, 5 February
entitled to participate in and vote at the SGM
Last day to lodge forms of proxy with the transfer secretaries Monday, 15 January
for the SGM
Hand proxy to Chairman prior to the commencement of the SGM Tuesday, 16 January
if not lodged by 15 February 2021
Special General Meeting to be held at 09h30 Tuesday, 16 February
Results of Special General Meeting released on SENS Tuesday, 16 February
1. All references to dates and times are to local dates and times in South Africa. These dates and times are
subject to amendment. Any such amendment will be released on SENS.
2. Shares may not be rematerialized or dematerialised between Tuesday, 2 February 2021 and Friday,
5 February 2021.
18 January 2021
The Standard Bank of South Africa Limited
Date: 18-01-2021 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.