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General Repurchase of Ordinary Shares
Novus Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2008/011165/06)
JSE share code: NVS ISIN: ZAE000202149
("Novus Holdings" or "the Company")
GENERAL REPURCHASE OF ORDINARY SHARES
1. INTRODUCTION
In compliance with paragraph 11.27 of the Listings Requirements of the JSE Limited ("JSE"), the board
of directors of Novus Holdings ("the Board") hereby advises shareholders that, in accordance with the
general authority granted by shareholders at the Company's annual general meeting held on 25 August
2023, Novus Holdings' subsidiary, Novus Packaging Proprietary Limited ("Novus Packaging"), has
cumulatively repurchased 10 438 968 Novus ordinary shares, representing 3.01% of the Company's
issued share capital as at the date of the annual general meeting ("Repurchase").
2. DETAILS OF THE REPURCHASE
Details of the repurchase are as follows:
Date of repurchase: 17 January 2024
Number of shares repurchased: 10 438 968
Price paid per security: R4.36
Total value of shares repurchased: R45 513 900.48
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. The shares were not
repurchased during a prohibited period.
Following the Repurchase, the extent of the general authority to repurchase shares outstanding is
58 892 302 ordinary shares representing 16.99% of the total issued share capital of the Company as at
the beginning of the Company's financial year.
Following the Repurchase, Novus Holdings holds 35 773 055 shares as treasury shares, representing
10.3194% of the Company's ordinary shares in issue as at the date of this announcement. Accordingly,
application will be made to the JSE for the delisting and cancellation of 1 142 086 repurchased shares
as soon as possible.
3. OPINION OF THE BOARD
The Board has considered the effect of the Repurchase and is of the opinion that, for a period of 12
months from 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;
- the consolidated assets of the Company and the Group will be in excess of the consolidated
liabilities, measured in accordance with the accounting policies used in the audited results for the
year ended 31 March 2023;
- the ordinary share capital and reserves of the Company and the Group will be adequate for
ordinary business purposes; and
- the working capital of the Company and the Group will be adequate for ordinary business
purposes.
4. FINANCIAL INFORMATION
As a result of the Repurchase, Novus Holdings' cash balance decreased by R45 627 955.43 (including
transaction costs of R114 054.95) and will have the effect of reducing the number of shares in issue for
purposes of earnings per share and headline earnings per share calculations by 10 438 968, which will
be weighted according to the date of the Repurchase. The Repurchase was funded by the Company's
available cash resources.
For and on behalf of the Board.
Cape Town
19 January 2024
Sponsor
Merchantec Capital
Date: 19-01-2024 08:25:00
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