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shares in Super Group on the open market
(Registration number1943/016107/06)
SPG
ZAE000011334
Repurchase of a further 3% of the issued ordinary shares in Super Group on
the open market
Repurchase
The directors of Super Group are authorised to announce the repurchase of an
additional 10 357 600 (3,0% 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"). These purchases were conducted
from 11 June 2001 to 30 August 2001.
Details of the cumulative share repurchases
The details of the cumulative share repurchases as at 16:00 on 30 August
2001 are set out below:
Number of ordinary shares repurchased 31 245 200
Percentage of the company's issued ordinary shares 9.0%
on the date of the granting of the general authority
Total value of ordinary shares purchased R234 415
886.45
Highest value paid per ordinary share purchased 955 cents
Lowest value paid per ordinary share purchased 544 cents
Number of ordinary shares which may still be 3 468 865
repurchased by the company in terms of the general
authority
Percentage of the company's issued ordinary shares 1.0%
which may still be repurchased by the company in
terms of the general authority
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
repurchase 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; and
the working capital available to the company and its subsidiaries is
sufficient for the company 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 9% of
Super Group's issued ordinary share capital on its headline earnings per
share and net tangible asset value per share:
Before After the Increase
the repurchas (Decrease
repurchas e )
e
Fully diluted headline 89.40 90.70 1.45%
earnings per share (cents) }
Net tangible asset value per 420.40 379.40 (9.75%)
share (cents)
Net asset value (cents) 430.80 390.80 (9.29%)
Notes:
The financial effects based on the consolidated financial statements for the
year ended 31 March 2001.
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 September 2001
Sponsor
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Pty) Limited
(Registration number 1995/011798/07)
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