| Wed 9 Nov 2016, 17:40 | | IMPERIAL HOLDINGS LIMITED - Specific Repurchase of Imperial Treasury Stock |
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IPL 201611090045A
Specific Repurchase of Imperial Treasury Stock
Imperial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021048/06)
Ordinary share code: IPL ISIN: ZAE000067211
(“Imperial” or the “Company”)
SPECIFIC REPURCHASE OF IMPERIAL TREASURY STOCK
1. INTRODUCTION AND RATIONALE
Imperial herewith announces the repurchase of 7,864,456 ordinary shares
(equivalent to c. 3.8% of the Company’s issued ordinary shares), held as
treasury stock, from Imperial Corporate Services (Pty) Limited, a wholly
owned subsidiary of Imperial, in accordance with the specific authority
approved by Imperial shareholders at the Annual General Meeting held on 31
October 2012 (“Repurchase”).
The board resolved that Imperial should repurchase the treasury stock from
the subsidiary in order to create new capacity for the Company to repurchase
further Imperial shares through its subsidiaries.
3. THE TERMS OF THE REPURCHASE
In terms of the approval, Imperial has repurchased 7,864,456 ordinary shares
on 4 November 2016 at a price of R167.58 per ordinary share, being the
closing share price of an Imperial ordinary share on the JSE on 3 November
2016.
Following the completion of the repurchase, Imperial will have nil shares
remaining as treasury stock.
4. SOURCE OF FUNDS
No funds or cash resources have been utilised for the repurchase as this is
an intra-group transaction.
6. FINANCIAL EFFECTS
No significant cash will flow outside of the Group, as this repurchase is
intra-group, as such the financial effects are immaterial and therefore have
not been disclosed.
8. JSE LISTING
Following the completion of the repurchase, the repurchased ordinary shares
will be cancelled and restored to the status of authorised shares. The
listing of the repurchased shares will be terminated upon granting approval
by the JSE Limited.
Bedfordview
9 November 2016
Sponsor:
Merrill Lynch South Africa (Pty) Limited
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