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General Repurchase of Ordinary Shares
SILVERBRIDGE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1995/006315/06)
Share code: SVB ISIN: ZAE000086229
(“SilverBridge” or “the Company”)
GENERAL REPURCHASE OF ORDINARY SHARES
SilverBridge shareholders are referred to the notice of the annual general meeting held on 30
October 2020 (“the AGM”), whereat shareholders approved the repurchase of ordinary shares
by way of a special resolution. Shareholders were further advised that any repurchases under
the general authority would be at market value in accordance with the provisions set out under
the relevant special resolution. At the AGM, shareholders granted a general authority to the
board of SilverBridge to repurchase up to 20% of the issued ordinary share capital of the
Company.
Shareholders are hereby advised that SilverBridge has repurchased 1 013 119 ordinary
shares, representing 3.02% of the issued ordinary share capital as at the date of the authority
to repurchase the ordinary shares was granted, out of the Company’s available cash
resources. The ordinary shares were repurchased for an aggregate value of R1,128,876.79.
Date of Number of Highest price Lowest price Aggregate value
repurchase ordinary per ordinary per ordinary
shares share shares
repurchase
1 November 1 013 119 1.30 0.8 R1,128,876.79
2020 to 25
March 2021
The repurchases were made in terms of the general authority granted by shareholders at the
AGM and were effected through the order book operated by the JSE trading system without
any prior understanding or arrangement between the Company and the counterparties. The
general repurchase of ordinary shares has been complied with in terms of paragraph 5.72(a)
of the JSE Listings Requirements.
The Company is entitled to repurchase a further 5 704 695 ordinary shares (16.98% of the
ordinary shares in issue as at the date of the authority), in terms of the current general
authority, which is valid until it’s next annual general meeting.
As at the date of this announcement, the Company held 106 240 ordinary shares in treasury,
which shares exclude the shares that are the subject of this announcement.
The ordinary shares were repurchased from excess working capital resources of the Company
and the interest that would have been generated for the group’s banking facility is minimal.
OPINION OF THE BOARD OF THE COMPANY
The board of SilverBridge has considered the effect of the repurchases 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
their debts for a period of 12 months after the date of the board approval;
- the consolidated assets of the Company and the Group will be in excess of the
consolidated liabilities of the Company and the Group for a period of 12 months after the
date of the board approval;
- the Company’s and the Group’s share capital and reserves will be adequate for the
purposes of the business of the Company and the Group for a period of 12 months after
the date of the board approval; and
- the Company and the Group will have sufficient working capital for ordinary business
purposes for a period of 12 months after the date of the board approval.
Pretoria
26 March 2021
Designated Advisor
PSG Capital
Date: 26-03-2021 12:26:00
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