Repurchase Of Further 3% Of The Issued Ordinary Sh
Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1943/016107/06)
("Super Group" or "the company")
REPURCHASE OF A FURTHER 3% OF THE ISSUED ORDINARY SHARES IN SUPER GROUP ON THE
OPEN MARKET
1. Repurchase
The directors of Super Group are authorised to announce the repurchase of an
additional 10 351 700 (3% of the issued ordinary shares) of the company's own
shares on the open market, acting on the general authority granted to the
directors by Super Group shareholders at the general meeting held on 21
September 2000 ("the general authority").
2. Details of the cumulative share repurchases
The details of the cumulative share repurchases during the current financial
year at 16:00 on 29 March 2001 are set out below:
- Number of ordinary shares repurchased 20 887 600
- Percentage of the company's issued ordinary shares on the
date of the granting of the general authority 6,0%
- Total value of ordinary shares purchased R140 386 200,40
- Highest value paid per ordinary share purchased 775 cents
- Lowest value paid per ordinary share purchased 544 cents
- Number of ordinary shares which may still be repurchased
by the company in terms of the general authority 13 826 465
- Percentage of the company's issued ordinary shares
which may still be repurchased by the company
in terms of the general authority 4,0%
3. Source of funds
The share repurchase was implemented using funds generated in the ordinary
course of business.
4. Directors' opinion
The directors of Super Group have considered the effects of the share
repurchases and are unanimously of the opinion that:
- the company and its subsidiaries will be able to meet their debt obligations
in the ordinary course of business for a period of 12 months after the date of
this announcement;
- the assets of the company and its subsidiaries, fairly valued in accordance
with Generally Accepted Accounting Practice, will remain in excess of the
liabilities of the company and its subsidiaries;
- the issued capital and reserves of the company and its subsidiaries are
adequate for the purposes of the business for a period of 12 months after the
date of this announcement;
- the working capital available to the company and its subsidiaries is
sufficient for the company's and its subsidiaries' requirements for a period of
12 months after the date of this announcement.
5. Financial effects of the repurchase
The table below sets out the financial effects of the repurchase of 6% of Super
Group's issued ordinary share capital on its headline earnings per share and
net tangible asset value per share:
Increase/
Before the After the (Decrease)
repurchase repurchase %
Fully diluted headline earnings
per share (cents)2 39,8 40,2 1,01
Net tangible asset value
per share (cents) 351,9 328,9 (6,54)
Notes:
1. The financial effects based on the consolidated financial statements for the
six months ended 30 September, 2000.
2. This assumes that the ordinary shares had been repurchased on 1 April 2000
with the funds in hand on which there would have been a loss of interest
received, calculated at an after-tax rate of 10,2% per annum.
6. Stock exchange listing
The shares repurchased will not be cancelled but will be retained by a
wholly-owned subsidiary of Super Group. Accordingly, the shares will continue
to be listed on the JSE Securities Exchange South Africa.
Sandton
3 April 2001
Sponsor
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Pty) Limited
(Registration number 1995/011798/07)
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