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General Repurchase of Shares
TRANSPACO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1951/000799/06)
Share code: TPC & ISIN: ZAE000007480
("Transpaco" or "Company")
GENERAL REPURCHASE OF SHARES
Shareholders are advised that Transpaco has cumulatively repurchased 1 000 000 shares (the "repurchased
shares") in terms of the general authority granted by shareholders at the annual general meeting held on 29
November 2024 (the "AGM") (the "repurchase"). The repurchased shares represent 3.47% of the Company's
issued share capital at the date of the notice of AGM, being 28 839 388 shares. The extent of the authority
outstanding is 4 767 877 shares or 16.53% of number of shares in issue.
The details of the repurchase are as follows:
- Date of repurchase: 21 February 2025
- Number of repurchased shares: 1 000 000
- Lowest repurchase price per share: R37.00
- Highest repurchase price per share: R37.50
- Volume weighted average repurchase price per share: R37.0003 (excluding transaction costs)
- Total value of shares repurchased: R37 000 300.00 (excluding transaction costs)
The board of directors of Transpaco has considered the effect of the repurchase and is of the opinion that, for a
period of 12 months following the date of this announcement:
- the Company and its subsidiaries (the "Group") will be able, in the ordinary course of business, to
repay its debts for a period of 12 months after the date of this announcement;
- the assets of the Company and the Group, as fairly valued, will equal or exceed the liabilities of the
Company and the Group, as fairly valued for a period of 12 months after the date of this
announcement;
- the Company's and the Group's share capital and reserves will be adequate for the ordinary business
purpose of the Company and the Group for a period of 12 months following the date of this
announcement; and
- the Company and the Group will have sufficient working capital for ordinary business purposes for 12
months following the date of this announcement.
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.
The repurchase was made within the pre-determined parameters for the repurchase to not exceed 20% of the
Company's issued share capital as at the commencement date of the financial year and for the repurchase
price to not be greater than 10% above the weighted average of the market value of the shares for the five
business days immediately preceding the date of the repurchase.
The repurchase was funded from the Company's available cash resources. Cash balances decreased by
R37 000 300.00 as a result of the repurchase (excluding transaction costs).
Following the repurchase, there will be a subsequent cancellation of the 1 000 000 shares. Application will be
made in due course to the JSE for the delisting of the shares repurchased.
The repurchase was not effected during any prohibited period and the Company holds no treasury shares.
The repurchase was effected through the order book operated by the JSE and done without any prior
understanding or arrangement between the Company and the counterparties. Accordingly, the Company has
complied with paragraph 5.72 (a) of the JSE Listings Requirements.
Sandton
24 February 2025
Sponsor:
Investec Bank Limited
Date: 24-02-2025 03:20:00
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