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Repurchase of Shares
LONG4LIFE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2016/216015/06)
Share code: L4L ISIN: ZAE000243119
("Long4Life" or “the Company” or “the Group”)
REPURCHASE OF SHARES
1. INTRODUCTION
In terms of paragraph 5.79 and 11.27 of the Listings Requirements of the JSE Limited, shareholders are advised
that the Company has purchased an additional 58 155 130 of its own ordinary shares being 6,77% which,
together with the previous repurchases equals 15,70% of the Company’s issued share capital as at the time of
the general authority granted by shareholders at the Company’s annual general meeting held on 1 July 2020
(the “General Repurchase”).
In terms of the general authority granted by shareholders at the Group’s annual general meeting held on
1 July 2020, the Group had the authority to buy back 171,7 million shares of which 134,8 million shares have
been repurchased to date, leaving a balance of 36,92 million shares, representing 4,30% of the Company’s
issued share capital as at the time of the general authority was granted by shareholders, which the Group may
still repurchase.
The General Repurchase was effected through the order book operated by the JSE trading system without any
prior arrangement between Long4Life and the counter parties. No shares were repurchased during any
prohibited period. The General Repurchase will be funded from available cash resources.
Date of General Repurchase: 28 January 2021
Average price paid per share: R4,00
Lowest price paid per share: R4,00
Highest price paid per share: R4,00
Number of shares repurchased: 58 155 130
Total value of Shares repurchased: R232,6 million
Number of treasury shares (after the General Repurchase): 94 792 821
The Company will apply to the JSE for the delisting of 58 155 130 shares.
2. STATEMENT BY THE DIRECTORS
The board of directors of Long4Life confirm that, after considering the effect of the General Repurchase, for a
period of 12 months after the date of this announcement:
- The Company and its subsidiaries will be able to pay its debts in the ordinary course of business.
- The assets of the Company and the Group will be in excess of the liabilities of the Company and the Group.
For this purpose, the assets and liabilities were recognised and measured in accordance with the accounting
policies used in the latest audited annual Group financial statements.
- The share capital and reserves of the Company and the Group will be adequate for ordinary business
purposes.
- The working capital of the Company and the Group will be adequate for ordinary business purposes.
- The Company and the Group have passed the solvency and liquidity test and since the test was performed,
there have been no material changes to the financial position of the Group.
3. IMPACT OF THE GENERAL REPURCHASE ON THE FINANCIAL INFORMATION OF THE COMPANY
The Company’s cash balances will decrease by R232,6 million as a result of the General Repurchase.
Johannesburg
29 January 2021
Sponsor: The Standard Bank of South Africa Limited
Date: 29-01-2021 12:12:00
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