TRANSPACO LIMITED - Proposed Specific Repurchase of Transpaco Ordinary Shares
Proposed Specific Repurchase of Transpaco Ordinary Shares
Transpaco Limited
(Incorporated in the Republic of South Africa)
(Registration number 1951/000799/06)
Share code: TPC
ISIN: ZAE000007480
(“Transpaco”)
Proposed Specific Repurchase Of Transpaco Ordinary Shares
1. Introduction and background
Transpaco shareholders are advised that Transpaco has concluded an agreement with
Manufacturers Investment Company (Pty) Limited in terms of which Transpaco will repurchase
1 100 000 Transpaco ordinary shares for a cash consideration of R30 613 000 (the “Specific
Share Repurchase”) that are held by Manufacturers Investment Company (Pty) Limited.
The Specific Share Repurchase is not from a “related party” as defined in paragraph 10.1(b)(i)
to (viii) of the JSE Limited (“JSE”) Listings Requirements.
2. Terms of the Specific Share Repurchase
2.1. The Specific Share Repurchase will be undertaken at a price of R27.83 per Transpaco
ordinary share which represents a 10.10% discount to the 30-business day weighted
average traded price as at Friday, 1 September 2023, being the day before the Directors
resolved to proceed with the Specific Share Repurchase.
2.2. The Specific Share Repurchase is subject to the approval of Transpaco shareholders.
2.3. The Transpaco ordinary shares proposed to be repurchased in terms of the Specific Share
Repurchase (“Repurchased Shares”) represent 3.67% of the issued ordinary shares of
Transpaco.
2.4. Subsequent to the approval of the Specific Share Repurchase by shareholders, the
Repurchased Shares will revert back to authorised but unissued ordinary shares in the
ordinary share capital of the Transpaco and application will be made to the JSE for the
delisting of the Repurchased Shares.
3. Impact of the Specific Share Repurchase
3.1. The Specific Share Repurchase is for cash only and will therefore reduce Transpaco’s cash
resources by R30 613 000 being the consideration for the Specific Share Repurchase.
3.2. The Specific Share Repurchase will result in a decrease of Transpaco’s ordinary shares in
issue by 1 100 000 ordinary shares.
4. Circular and general meeting
A circular setting out the details of the Specific Share Repurchase and incorporating a notice
of general meeting (the “Circular”), will be distributed to Transpaco shareholders in due
course.
Wynberg
11 September 2023
Financial Advisor and Sponsor
Investec Bank Limited
Date: 11-09-2023 10:37:00
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