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LETSHEGO HOLDINGS LIMITED - Notice To Shareholders On Share Buy-Back - LHL17, LHL18, LHL19, LHL26

Release Date: 23/10/2017 12:15
Code(s): LHL18 LHL19 LHL17 LHL26     PDF:  
Wrap Text
Notice To Shareholders On Share Buy-Back - LHL17, LHL18, LHL19, LHL26

Letshego Holdings Limited

Incorporated in the Republic of Botswana

Registration number 98/442



Instrument code: LHL17 ISIN: ZAG000132234

Instrument code: LHL18 ISIN: ZAG000132242

Instrument code: LHL19 ISIN: ZAG000132259

Instrument code: LHL26 ISIN: ZAG000141268



(“Letshego Holdings” or “the Company” or “the issuer”)

Notice to Shareholders on Share Buy-back

This announcement is being released on the Johannesburg Stock Exchange for
information purposes only in respect of Letshego Holdings Limited’s Note
Programme.

Letshego Holdings Limited was incorporated in 1998, is headquartered in Gaborone
and has been publicly listed on the Botswana Stock Exchange (BSE) since 2002. It
is an inclusive finance focused group with consumer lending, micro finance and
deposit-taking subsidiaries across sub-Saharan Africa.

The Board of Directors (the “Board”) of the Company hereby announces that it has
exercised its power under the general mandate to buyback (the “Share Buy-back
Mandate”) shares of the Company (the “Shares”) granted by the Shareholders of the
Company (the “Shareholders”) to the Board at the annual general meeting (the
“AGM”) of the Company held on 24 May 2017, which was a renewal of the original
Shareholder mandate provided in May 2015.

Pursuant to the Share Buy-back Mandate, the Company is allowed to buy-back up to
214,404,514 Shares on the Botswana Stock Exchange for an amount which shall not
exceed the sum of retained profits of the Company based on its latest financial
statement of the Company, nor a monetary value of BWP 561,519,726 in total. The
Share Buy Back Mandate also has the following conditions:

The Company cannot purchase shares from individuals or entities        (or    their
associates) that hold more than 5% of the ordinary shares in issue;

The Company cannot purchase shares from Directors, management or staff of the
Company or its subsidiaries;

The price cannot be more than a 5% (five) premium to the previous 5 (five)
trading days weighted average share price; and

The Company can only trade in its shares when it is not in a closed period.




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On 9th October 2017 the Company bought back on market a total of 24,400,000
Shares, representing approximately 1.0% of the issued share capital of the
Company. The highest purchase price per Share was BWP 1.97, the lowest purchase
price per Share was BWP 1.97 and the average purchase price was BWP1.97. The
aggregate consideration for the buy-back of Shares was BWP 48,068,000. The Share
Buy Back has been implemented in accordance with all applicable regulations and
conditions the Board is subject to.

These shares will be held as treasury shares in accordance with the Shareholder
approval obtained on 24 May 2017.

The Board believes that the Company’s solid financial position will enable it to
conduct the Share Buy-back while maintaining sufficient resources for the
continued growth of the Company’s and Group’s operations.

Shareholders and potential investors should note that the exercise of the Share
Buy-back by the Company will, in accordance with the Share Buy Back Mandate,
subject to market conditions, be implemented at the absolute discretion of the
Board and as per the conditions of the Shareholder mandate. There is no assurance
of the timing, quantity or price of any further Share Buy-back. Further updates,
by way of a notice to Shareholders will be provided as appropriate.



For and on behalf of the Board of Directors:



E Banda

Chairman

23 October 2017



Debt sponsor in South Africa

The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division



Sponsoring broker in Botswana

African Alliance Securities




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Date: 23/10/2017 12:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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