CMP - Cipla Medpro South Africa Limited - Voluntary disclosure of share
CMP
CMP
CMP - Cipla Medpro South Africa Limited - Voluntary disclosure of share
buyback
CIPLA MEDPRO SOUTH AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2002/018027/06)
(ISIN Number: ZAE000128179 Share Code: CMP)
("Cipla Medpro" or "the Company")
VOLUNTARY DISCLOSURE OF SHARE BUYBACK
The directors of Cipla Medpro ("the Directors") are pleased to advise
shareholders that as announced in the interim results for the six months ended
30 June 2011, the Company has now undertaken a repurchase of its shares ("the
repurchase") in terms of a general authority to repurchase shares approved by
shareholders at the annual general meeting held on 25 May 2011.
Details of the repurchase which was done over the period 16 November 2011 to
25 November 2011 are as follows:
- 7,564,796 shares were acquired at a price of between R6.49 and R6.60 per
share;
- the repurchase represents approximately 1.7% of Cipla Medpro`s issued
share capital; and
- the total value of the repurchase, including costs, was R50 million.
The Directors believe that the current Cipla Medpro share price is undervalued
and as a result resolved to buy back shares below a certain price level. The
Directors will reassess the position as required, to determine if more shares
should be repurchased.
Durban
30 November 2011
Sponsor
Nedbank Capital
Date: 30/11/2011 15:27:11 Produced by the JSE SENS Department.
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